Ogilvy Landscapes has been appointed the OOH (out of home) agency on record for Canara HSBC Oriental Bank of Commerce Life Insurance. The company, which came into existence in June 2008, is a joint venture between three financial organisations. In this venture, Canara Bank holds 51 per cent equity, while HSBC Insurance (Asia Pacific) Holdings Ltd owns 26 per cent and Oriental Bank of Commerce owns 23 per cent.
The launch campaign for the life insurance company was also carried out by Ogilvy Landscapes. In late 2009, the insurance firm had called for a pitch of about 10 OOH specialist agencies, after which Ogilvy Landscapes was again awarded the duties.
Since the product (life insurance) is being marketed only through the branches of the banks in question, the target audience is well defined. "Thus, we have to plan the campaign on a micro level to avoid any sort of wastage," says Rajesh Badani, country head, Ogilvy Landscapes.
In the initial stage, Ogilvy Landscapes studied all the branches of the banks, the customer profiles and the locations of the branches. These parameters helped in putting together the right communication, so that the customer would know about the life insurance services available with the bank.
This time, too, the brand is looking to optimally target its niche target audience.
Canara HSBC Oriental Bank of Commerce Life Insurance recently introduced 'Immediate payouts on death claim', so that the deceased's family members receive the fund value immediately on registration of death claim under the unit linked policies.