Sign up for afaqs! Newsletters
Aidem Ventures to handle sales for Policybazaar.com for 5 years
Under this partnership, Policybazaar.com intends to optimise the ad space available on the website and bring forth more value proposition for the prospective customers.
Aidem Ventures, the independent media consulting, marketing and advertising sales company, has been appointed as the media representative for Policybazaar.com, an online insurance and financial products portal. The deal has been stitched for a period of five years.
Elaborating on the reason behind the tie up, Akshay Mehrotra, chief marketing officer, Policybazaar.com, says, "Consumers visit our portal to understand, compare and buy financial products like life insurance, motor insurance, health insurance, personal loans, home loans and mutual funds. With such large customer visits, we wanted to optimise the ad space available on our site. With Aidem Ventures, we look forward to a mutually profitable, long term and non-exclusive relationship."
The partnership also intends to bring forth more value proposition for the prospective customers. According to Mehrotra, Policybazaar.com brings in three value propositions for prospective customers, namely, CRM association through e-mailer and reach campaigns, influencing financially astute visitors through banner ads and pure performance campaigns.
Shailendra Shetty, head, new business initiatives, Aidem Ventures, says, "With an average user spending 16 hours a week online and an increased attention of the advertiser to the space, the medium is looking up to some good times in the near future. Today, almost every brand's path-to-purchase starts on the digital medium."
Policybazaar.com is an InfoEdge (Naukri.com) and Intel Capital investee company. It began its operations in 2008 and has been a key force in the establishment of the online insurance aggregation model in India.
According to trade analysts, India has already witnessed a surge in home-grown internet start-ups and the next decade will bring in a massive growth in the Indian internet sector. This will be supported by highly favourable demographics, growing internet/broadband penetration, launch of 3G networks, growing middle class/income levels, noticeable pick-up in technology/gadget and the mobile culture.