Indiantelevision.com > Media, Advertising & Marketing Watch > Birla Sun Life Insurance marketing spends up by 20 per cent: to focus on Children’s Dream Plan

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Birla Sun Life Insurance marketing spends up by 20%; to focus on Children’s Dream Plan

Indiantelevision.com Team

(18 June 2007 5:55 pm)

BANGALORE: Birla Sun Life Insurance (BSLI) has announced the launch of its new life insurance product – Gold Plus plan.

This is a plan that has been created based on a market survey to address the middle income (MI, earning income more than Rs.2,00,000 per annum) and the high networth individuals (HNI, earning income Rs 2 million and more per annum) segments and has been tailored to meet the requirements of those needing a medium term life insurance product. The plan has a term of 8 years with flexibility in the premium amount for the second and the third year.

As has been the norm for most offerings from the BSLI staple, Gold Plus is a unit linked plan with a number of special features, including seven different options that allow the insured person to select the level of risk ranging from zero percent to 100 percent exposure to the Indian equity markets. Presently the company plans to sell this plan through its network of 60,000 agents across the country and major distributors such as banks and direct corporate sales.

Last fiscal BSLI spent around Rs. 200 million towards outdoor and TVC campaigns according to BSLI sr. vp –marketing and communications – Anjana Grewal while speaking with Indiantelevision.co on the sidelines of a press conference. The marketing spends would be enhanced by around 20% this fiscal, and a major thrust would be towards promotion of the ‘Children’s Dream Plan’, which according to BSLI-head-investments Vikram Kotak has been fetching 20% of the new business premium income for BSLI since its launch in March 2007. BSLI plans Rs.100 million spends towards promotion of this product this fiscal. The campaign is already on according to Grewal. Vijay Kyanetti Creatives does the creative work for BSLI.

BSLI has been carrying out market research and has been launching life insurance plans to address the needs of niche segments according to company officials. Last fiscal, BLSI earned new premium income of Rs. 9.53 billion and a total premium income of Rs.17.46 billion. BLSI is a joint venture between the Rs.494.4 billion Aditya Birla Group and international financial services organization Sun Life Financials.

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