MUMBAI, February 20, 2013 /PRNewswire/ --
Insurance is all about a 'Promise'. A promise that needs to be fulfilled during the hour of need. This is a unique category where the value of the product is realised not at the time of purchase but sometime in future when an unfortunate event/accident occurs for which the insurance cover was purchased. It is this 'moment of truth' that separates one insurance company from the other in terms of whether or not a claim is settled and the speed of settlement thus adequately compensating the insured for the loss.
ICICI Lombard General Insurance Company Ltd., the country's largest private sector general insurance company, has launched a campaign that tries to exemplify this moment of truth and its commitment to honouring insurance claims. ICICI Lombard settled more than 43 lakh claims in FY 2011-12, thus earning the distinction of being India's largest settler of insurance claims during this period.
The television commercial depicts a college hostel situation, with the protagonist being highly regarded for living up to his promise at all times. The moment of truth arrives when he has to decide between wearing his lucky jacket for an interview and handing it over to a friend who he had promised to do so. True to his words, the protagonist hands over the jacket to the friend, thereby living up to his promise. The script effectively captures the company's focus on abiding by its promise of settling insurance claims in the shortest possible time. The visual story line is well supported by the audio "Vaade wahi mayne rakhte hain jo nibhaye jaaye".
Talking about the ad campaign, Mr. Shankar Nath, Head of Marketing and Direct, ICICI Lombard GIC Ltd. said, "For any customer, the true value of having purchased an insurance cover is realized at the time of claim. This is the moment of truth that tests the earlier decision of purchasing the insurance policy from a particular insurance company. Having settled over 43 lakh claims in FY 2011-12, we thought it was apt to focus on the 'Claim settlement' part of the product consumption cycle which is actually the core proposition of any insurance product."
Conceptualized and executed by Cartwheel Creative Consultancy Pvt. Ltd., the multimedia advertising campaign will be released across television, print, radio, outdoor and online media. The media plan incorporates national and regional news channels, general entertainment channels as well as the niche genre to ensure reach and frequency. Similarly on the print side, the campaign will target mainline newspapers in English and other languages. The radio and outdoor part will be executed across top 8 metros.
All media has been actioned simultaneously to ensure maximum impact.
Speaking about the campaign, D. Ramakrishna, Creative Director, Cartwheel Creative Consultancy, said, "Insurance is all about settling claims efficiently and fairly when the need arises. Its a bit like a friend keeping a promise. We decided to use a simple human story about a promise, rather than one about insurance. After all, an insurance policy is pretty much like a promise."
The commercial was produced by Lensflare Films and directed by Vijay Maurya.
About ICICI Lombard General Insurance Company Ltd.
ICICI Lombard GIC Ltd. is a joint venture between ICICI Bank Limited, India's second largest bank with consolidated total assets of over USD 91 billion at March 31, 2012 and Fairfax Financial Holdings Limited, a Canada based USD 30 billion diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management.
ICICI Lombard GIC Ltd. is the largest private sector general insurance company in India with a Gross Written Premium (GWP) of Rs 5,358 crore for the year ended March 31, 2012. The company issued over 76 lakh policies and settled over 44 laky claims and has a claim disposal ratio of 99% (percentage of claims settled against claims reported) as on March 31, 2012.
The company has been conferred the "Golden Peacock Award 2012" for Corporate Social Responsibility, "Golden Peacock Innovation Award-2010" for Rashtriya Swasthya Bima Yojana. It also received the "Skoch Financial Inclusion Award-2011" in the micro finance category. The company has been conferred with 'NASSCOM - CNBC TV18 IT User Award 2010' for Best Technology Implementation in the Insurance Sector. It has been awarded CNBC Awaaz Consumer Award 2010 for being the 'most preferred brand' in the General Insurance category. ICICI Lombard Auto Insurance has been rated highest in customer satisfaction by J.D. Power Asia Pacific in India among 11 auto insurance providers. It was awarded Customer and Brand Loyalty award in the 'Insurance Sector - Non-Life' at the 3rd Loyalty awards, 2010 and the 'General Insurance Company of the Year' at the 11th Asia Insurance Industry Awards.
ICICI Lombard allows instant policy issuance and renewal through its website http://www.icicilombard.com/ for all retail insurance products including Car Insurance, Health Insurance, Travel Insurance, Two Wheeler Insurance, Motor Insurance and Home Insurance. There are multiple payment options available including internet banking, credit card, debit card and cash card.
For more details about the company, log on to the website http://www.icicilombard.com/
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