IDBI Federal Life Insurance keeps retirement blues at bay

By Anushree Bhattacharyya , afaqs!, New Delhi | In Advertising | March 23, 2011
Through the example of a 60-year-old-son and his 90-year-old father, the insurance company, in its new campaign, reinforces the need to be financially secure post-retirement.

Teenagers are known to pester their parents for pocket money. But, with age and maturity, they seek out jobs, catering for their livelihood, and for their families.

At the same time, they ensure a secure future, especially making provisions for their post-retirement days, so that they do not have to rely on anyone for financial aid.

It is this idea of living a secured life after retirement, which is being promoted in IDBI Federal Life Insurance's new campaign, in which the company talks about its new investment plan Retiresurance.

Conceptualised by Ogilvy India, the television commercial titled, Retiresurance, shows a 60-year-old son asking for pocket money and a car from his 90-year-old father, to go for a movie with his friends. To this, his father sternly replies that had the son paid a little attention in his youth towards investing for his retirement, he would not have been asking for money from his father today.

Interestingly, it was a young member from the creative team who suggested the concept of 'pocket money'. The rest of the team worked on the concept, and developed the father-son scenario.

Abhijit Avasthi, national creative director, Ogilvy India, says, "It's an inspirational idea that the television commercial (TVC) reflects. The TVC takes the father-son duo as an example to highlight the importance of assured monthly financial return after retirement."

According to Amish Tripathi, national head, marketing and product management, IDBI Federal Life Insurance, there were clear guidelines that the commercials have to be funny, and clutter-breaking when it comes to campaigns, as every second company sells the same proposition in the insurance sector. "Therefore, it is important to stand out from the rest," says Tripathi.

Explaining the concept of the commercial, he adds, "Through the TVC, we wanted to explain the benefit of a tension-free life thanks to the pension plan. The idea has been executed and presented in a humorous manner."

The insurance company has uploaded the TVC on YouTube as well, and claims that the film has already got 40,000 hits, apart from launching a microsite. In addition, IDBI Federal Life Insurance plans to launch a viral in the digital space.

Is It Funny?

While the commercial is funny to watch, industry observers believe that the idea is a bit unreal for 'real' people to believe and that this is not the first time an insurance company has tried its hand at using old people as examples.

Nitin Pradhan, executive creative director, Leo Burnett, says, "It's a tongue-in-cheek take on retired life. While the main idea has been used in many campaigns for so many years, the agency has added a twist by bringing two old men together. Although it's endearing, it is a bit unreal. But, at the end of the day, the TVC does convey its point well."

For Naresh Gupta, national head, planning, Cheil Worldwide, this is not the first time that old people have been used in insurance advertising. "There is a certain charm they bring into the story. The TVC conveys the story well, and tells you about the need for retirement planning. But, it is nowhere close to what the other commercial for the brand is. This is an old story, told many times and suffers from category clutter. Perhaps, old people are behaving like youngsters - cute, but not always relevant," says he.

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