Max New York Life scouts for second agency

The business is currently handled by Equus Red Cell, and the company is now looking at bringing another agency on board

Max New York Life Insurance, a joint venture between New York Life and Max India, is on the look-out for a second agency. The business is currently handled by Equus Red Cell, and the company wants to have another agency on board by the end of this month. The possibility of replacing Equus with the other agency is also there.

Equus has been working on this brand for the last four years. It brought in Rahul Dravid as brand ambassador for Max New York Life.

The pitch process has already started, and currently, there are four agencies in the fray.

Max New York Life scouts for second agency

The company is looking at a fresh perspective on its creative strategy. Debashis Sarkar, director, marketing, product management and corporate affairs, Max New York Life, says, “In the last four years, the company has grown in terms of size and scale and now the need is to increase the brand presence in existing and newer markets. This is also why we need to have a second agency on board.”

However, Sarkar declines to comment on the creative thought or the advertising spends set aside for the future. He says, “In a dynamic sector such as life insurance, the communication needs evolve at a fast pace. Our advertising campaigns in future will be developed keeping the changing consumer profile in mind.”

When pressed further, he hints that Max New York Life could increase its advertising budget, keeping in mind its expansion plans.

The pitch process will come to an end by the end of September. The company has decided to stick with Carat Media for its media duties.

Have news to share? Write to us atnewsteam@afaqs.com

Max New York Life Insurance Debashis Sarkar