Financial Services

Share Prices

Sales and Market Share

Banks

Source: Indian Banks’ Association

Mutual Funds

Source: Association of Mutual Funds of India

Trends, Marketing Initiatives and Others

Banks

28. United Bank Plans Financial Clinics In Metros – January 29

UBI to launch ‘financial clinics’ in the four metros

United Bank of India (UBI) plans to launch ‘financial clinics’ in the four metros of Kolkata, New Delhi, Mumbai and Chennai, to push its retail products, mutual funds, insurance policies as well as several other investment instruments. The clinics will mainly target the elite customers, who have at least Rs 1 lakh to invest.

Source: The Hindu Business Line

Mutual Funds

29. Fidelity’s Novel Investor Education Initiative – The Rs. 33,990* Tax Advantage Contest – February 07

Fidelity launches the ‘Rs.33,990* Tax Advantage Contest’ to promote ELSS

On 7 February 2008, Fidelity announced the ‘Rs.33,990* Tax Advantage Contest’ to increase awareness about the ELSS (equity-linked savings scheme) category of funds as a tax-saving tool. The contest requires participants to answer four questions about ELSS after reading information provided in the entry form and mention why ELSS is a good investing option. Given the low penetration of mutual funds in India, investor education plays a significant role in increasing investments into the mutual fund. The contest runs from 7 to 21 February 2008. The winner will get a Honda City car and other prizes include 180cc Bajaj Avenger DTS-i Cruisers, Nokia N-series mobile phones and iPod Shuffles.

Source: Businesswire India

Insurance

30. From Tax Saving Instruments To Complete Financial Solutions – Insurance Advertising Has Come A Long Way – February 05

Insurance companies attempting to create brand identities

Fierce competition among insurance companies, the onset of the fourth quarter of the financial year and the entry of new players have resulted in increased promotional and marketing activities in the insurance sector. In 2006-07, the overall advertising spends of insurance companies in India amounted to approximately Rs 400 crore. Companies are increasingly shifting from brand advertising to product advertising as  new private entrants are positioning insurance as a goal protecting investment rather than a mere tax saving tool. More and more companies are showcasing themselves as complete financial providers. In addition, companies are paying more attention to media selection, product innovation and development as well as consumer activation through direct marketing activities to create a distinct brand identity in the minds of target consumers. 

Source: Exchange4media

31. 81% Rural, 62% Urban Households Have No Risk Cover: Survey – February 11

Insurance sector: High awareness but low ownership among consumers

According to the survey by Max New York Life-NCAER (National Council for Applied Economic Research) – How India Earns, Spends and Saves – while awareness about insurance is quite high in India, the ownership of insurance products is low. The survey, which is based on 2004-05 figures, states that though about 90% of the urban households are aware of the life insurance policies and their benefits, only 38% of the urban households have purchased such products. A similar set of figures for rural areas indicates that about 73% of the households were aware of insurance but only 19% households actually purchased the policies. According to the survey, awareness of insurance was high among large-income households, and it declined with decreasing income. Awareness levels were 96% among regular salary earners, followed by non-agriculture and self-employed persons with 89%, agricultural households with 77%, and labour households with 63%.

Source: Business Standard

32. Insurers Want More Feet On The Ground – February 08

Life insurance companies keen on creating direct marketing teams

According to industry experts, direct marketing is fast emerging as a distribution channel for life insurance companies. Currently, agency and bancassurance models are considered the two most effective channels.  Life insurers such as Max New York Life, Bharti Axa Life, Birla SunLife, Reliance Life, Tata AIG Life, Kotak Insurance, are creating a direct marketing team force to deal with multiple issues of productivity, increased penetration, retention and instances of possible mis-selling.

Source: DNA

Product Launches

Mutual Funds

33. Morgan Launches Fund After 13 Years – February 08

On 7 February, 2008, Morgan Stanley Investment Managers launched its Morgan Stanley ACE (Across Capitalisations Equity) Fund, which will invest in a portfolio of equity and equity-related securities, including equity derivatives.

34. Mirae Asset India Launches Opportunities Fund – February 08

On 11 February, 2008, Mirae Asset Global Investment Management (India), a South Korean mutual fund firm, launched the Mirae Asset India Opportunities Fund, an open-ended diversified equity fund.

Insurance

35. Anil Ambani's Health + Wealth Plan – February 07

On 7 February, 2008, Anil Dhirubhai Ambani Group's (ADAG) Reliance Life Insurance announced the launch of Reliance Wealth + Health Plan, which offers wealth creation and health protection in a single policy. With annual premium as low as Rs 10,000 to Rs 12,000 per annum, the insured can get health and saving benefits, and protect themselves from unexpected medical bills.

36. LIC Forays into Health Insurance – February 05

On 4 February, 2008, Life Insurance Corporation (LIC) launched its first health insurance product. The plan combines health insurance for the entire family (husband, wife and the children), and offers hospital cash benefit and major surgical benefit along with a Unit Linked Insurance Component.

Others

37. Rel Money Launches Portfolio Scheme – February 08

On 7 February, 2008, Reliance Money, the broking arm of Anil Ambani’s Reliance Capital, launched a portfolio management scheme (PMS) that allows investors to manage their funds through a group of expert advisers. The scheme targets people with an investment limit ranging between Rs 5 lakh and Rs 75 lakh.

Advertising Campaigns

Bank

38. Axis Bank Seeks A Humorous Connect – January 21

Axis Bank launches a set of TVCs highlighting their product offerings

Axis Bank has launched a set of television commercials (TVCs), with a humorous connect, highlighting the products offered by them. 

The personal loans ad shows a family standing against a backdrop of mountains, dressed in winter wear. They are actually posing for a photograph which will make them appear as if they were in Switzerland. The TVC ends with the voiceover: “If you have a desire to travel, we have personals loans to help you fulfil it.”

The second TVC for home loans shows a bride waiting for her husband. As her husband enters the room both of them steal glances at each other.

As is the custom, when the bride picks up a glass of milk to give to her husband a hand from below takes the glass and passes it to another hand that comes up just in time.

The glass is passed on by about 10 hands before it reaches the groom. When he finally takes a sip, about a dozen people are shown sleeping in the same room as the newly married couple. Here too, the voiceover ends the commercial saying: “If you desire your own space, we have home loans to help you build it.” 

The bank has used a humorous approach in its commercials to make it stand out from already cluttered financial advertising space.

Source: Agencyfaqs

Insurance

39. Look At Life Through Clay Eyes – February 04

Tata AIG Life launches TVC highlighting the flexible nature of its “Invest Assure Flexi plan”

Tata AIG Life launched a television commercial (TVC) highlighting the flexible nature of its new insurance plan, Invest Assure Flexi, with a little child, his big dreams and lots of clay.

Created by agency Bates David Enterprise, the TVC starts with the shot of a small boy getting out his clay pot to play. He makes a red cycle first, followed by a motorbike, and a big wedding cake as the little boy talks about the wedding he will have one day. He also plans to have a big house with “two-two doggies”.

The boy makes an armchair of clay depicting that he will not do any work, but rest (‘aaram’. After ‘claying’ with his life, he goes to an armchair in his house and rests a while.

The TVC ends by depicting the flexibility that the Tata AIG Invest Assure Flexi plan offers. The voiceover says, “Whatever your dreams, you can now mould your insurance plan to realise them.”

The use of clay in the advertisement depicts flexibility. According to Rajeev

Raja, executive creative director, Bates, “Life is never fixed and needs to keep changing as one grows up. So, your insurance plan needs to offer you flexibility in a crisis moment. Since this product offered by Tata AIG Life considers these twists in life and is hence flexible, there seemed no better way than the malleability of clay to depict it”.

Source: Agencyfaqs

40. MetLife:From Meeting Life To Celebrating Life, ‘Peace Of Mind Guaranteed’ – January 26

MetLife launches TVC communicating ‘Peace of mind guaranteed’ as the key proposition

On 25 January, 2008, MetLife launched a new ad campaign, which is based on the insight that if people have peace of mind they will be free of pressures and constraints. The new brand communication, designed by agency McCann Erickson, endeavours to Indianise MetLife’s brand positioning as a life insurance player that offers ‘Peace of mind guaranteed’ as the key proposition to its customers.

The film shows the head of a family being able to enjoy the little joys of life such as kicking around a football, or playfully imitating his wife’s sneeze, or horsing around with an ice-cream vendor’s cart, and even trying a sleight of hand at a game of chess.

All this is possible because of the insurance cover provided to him and his family by MetLife.

The film ends with the line stating: ‘Join the 70 million customers worldwide who trust MetLife Group for their peace of mind’. Targeted at men in their thirty’s, MetLife has adopted a 360-degree approach for this campaign that includes television, print, outdoor, internet and radio.

Source: Exchange4media

41. ‘Chintamani’ Dons The Bat For ICICI Prudential’s 100% Premium Allocation Plan – January 31

ICICI Prudential shows new avatar of Chintamani in its new TVC

ICICI Prudential launched a new tax saving campaign  based on the insight that consumers prefer products that not only help them save tax, but also give them optimal investment options. The new tax saving campaign sees ICICI Prudential’s mascot Chintamani as a cricketer. ICICI Prudential’s ‘common man’ is shown coaxing himself to give his 100% on the field to promote a plan that not only helps save tax but also provides the benefit of 100% premium allocation. The creative is based on a thought that ‘when you give 100%, you get 100%’. The new Chintamani tax saving campaign is currently running across print, radio, outdoor and TV.

Source: Exchange4media

Others

42. Barclaycard:Time To Let The Customer Grow Up – February 06

Barclaycard’s new TVC portrays its card holders as intelligent adults

Barclaycard has launched an advertisement with a premise that Barclay card holder is intelligent enough to manage and control his finances. The ad exhibits the credit card’s features such as credit limit, flexible billing cycles and repayment options.

The ad opens with the shot of a man walking into a bank, where he is treated like a child at every step.

When he makes an enquiry, he is shushed by the bank employees because another customer is sleeping nearby in his “cradle”. Another employee is cooing at adult customers in a playpen of sorts.

He then watches adult customers sporting party caps and whistles. Finally, an employee attends to him, but begins boring him with the terms of his credit card. In the middle of his monotonous chatter, he starts pinching the cheeks of the harassed customer.

A voiceover explains that with a Barclay’s card, no one will treat you like a child, and you will get to control your finances the way you want to. The tagline goes, “It’s your card. You know best.”

The approach in the ad uses the idea of communicating ‘adult to adult’, unlike other credit card companies which tend to offer irrelevant freebies to customers.

 Source: Agencyfaqs