After having handled the creative mandate for Bharti AXA Life Insurance for about a year, Grey Advertising has also bagged the general insurance business of Bharti AXA.
The account size is estimated to be worth Rs 12-15 crore.
According to Jacob, winning the non-life business, after the agency has handled the creative duties of the life insurance part of the brand (from the Mumbai office), is a big vote of confidence from Bharti AXA.
In an official statement, Kimsoon Chua, chief operating officer, Bharti AXA General Insurance, says, "We look forward to some path-breaking creative and strategic inputs from the Grey team. At Bharti AXA, we are focused on innovation in both products and services. And we are looking to enrich our marketing and brand through equally innovative promotion techniques."
"We want our communication, be it our advertising, our product brochures or what we say in the press to demystify insurance and make it less intimidating for our customers. We found that Grey's direct approach to our campaign was both impactful and straightforward," Chua adds.
Jacob says that the market has huge potential, since the general insurance category penetration is low. To get the message across, the agency will use a combination of mass media vehicles, such as television and print, and digital and BTL activities for specialised products.
"Our future campaigns will focus on the transparency and uncomplicated insurance solutions that we offer our customers. We will focus on both brand as well as product campaigns for our retail suite of products going forward," says Chua.
Bharti AXA General Insurance Company is a joint venture between Bharti Enterprises and AXA, a world leader in financial protection. While Bharti has a 74 per cent stake in the company; the AXA Group has 26 per cent.