The size of the business is around Rs 20 crore.
Carat Media, an independent media communications specialist from the Dentsu Aegis Network, has won the traditional media mandate for IndiaFirst Life Insurance in the West. The account win was through a multi agency pitch with eight major agencies taking part. The incumbent agency was DDB Mudra Max-Media.
Carat will now be looking at all media including TV, print, out-of-home, radio, activation and cinema for IndiaFirst Life Insurance, a joint venture between two of India's public sector banks - Bank of Baroda (44 per cent) and Andhra Bank (30 per cent), and UK's financial and investment company Legal & General (26 per cent). Carat will create an integrated media communication ecosystem for its latest client. The size of the business is around Rs 20 crore.
Kartik Iyer, MD India - Carat Media, said, "We are absolutely delighted to have been chosen by India First for this mandate. Our team looks forward to working with India First to create strong consumer centric digitally ahead solutions that will enable India First to become the preferred choice of consumer." Adds Himanka Das, senior vice president - west, Carat Media, "We are happy to partner with IndiaFirst Life Insurance. It gives us a market advantage to win such a competitive pitch, as it demonstrates that Carat India is riding on proprietary consumer data analytics and tools to design unique engaging communication plans across touch points, beyond traditional media planning. We are looking forward to exciting times ahead."
In 2014, Carat won a slew of accounts including General Motors, Microsoft, Nokia, British Airways, Mastercard, Ayurwin and Meiji. For the record, IndiaFirst Life Insurance sells insurance plans, including life insurance, investment funds, and group policies. The company's product range covers protection (term insurance), savings, education and retirement.