Advertisement Effectiveness with reference to life insurance and special focus on ICICI Pru's Media Strategy

4. THE INSURANCE INDUSTRY
o The private players got entry to
this industry in 1999.
o LIC is the Market Leader.
o A dozen of Private players in the
market.
o Huge improvement in service
attitude & delivery.
o The biggest beneficiary of the
competition is the consumer.

5. Graphical Representation of Market Shares of
different private players.

6. COMPANY BACKGROUND

7. Joint Venture between ICICI Bank & Prudential PLC.

Amongst the first private sector insurance companies to

begin operations in December 2000 after IRDA approval.
Equity base of Rs. 6.75 billion, with ICICI Bank and

Prudential Plc. holding 74% and 26% stake respectively.
The company garnered total received premium (new

business + renewal) of Rs. 3,088 crores for the quarter
ended June 30, 2008 as compared to Rs 1,801 crore for
the quarter ended June 30, 2007.
The company wrote over 6 lakh policies over this period

and its assets stood at over Rs 26,900 crore.

8. VISION- ICICI Prudential Life Insurance Co.
“The vision of the company clearly states that it wants to
become the dominant Life and Pension player built on trust
by world-class people and services.”

9. BOARD OF DIRECTORS

10. PROJECT OVERVIEW
• Problem: How Indian Customers could
trust Private Life Insurers despite the
presence of LIC which is a govt.
owned body & therefore, has an
element of Security.
• Primary Objective: To Understand &
Measure the impact of Advertising in
the Life Insurance Market.
• Secondary Objective: To know the
Promotional Strategies of ICICI
Prudential Life Insurance Co. Ltd.

11. • Scope: The study presents a clear
picture of Media Strategies of the
Insurance Players. The results will help
the company to trace the loop holes
and then take the corrective
measures to rectify them.
• Sample Size: 50
• Source of Primary Data:
Questionnaires filled by respondents.

12. LITERATURE REVIEW

13. MEDIA EXPOSURE IN RURAL
MARKET
The estimated annual business from rural markets in 2008 was Rs.
1,23,000 crore, comprising Rs. 65,000 crore of FMCG, Rs. 5000 crore
of durables, Rs. 45,000 crore of agricultural inputs & Rs. 8,000 crore
of two wheelers and 4 wheelers. 29% of the rural people own
cars, 27% own colour televisions, 24% own refrigerators & 10% own
washing machines.

14. CORPORATE ADVERTISING
The advertising idea, which was encapsulated in symbols of
protection from the initial print campaign, culminated in the
corporate film where SINDOOR was used as an endearing and
lasting symbol of protection.

15. RESEARCH WORK

16. The Questionnaire
Hello Sir/Madam,
I, KARAN SACHDEV, here to conduct a research on the T.V audience with respect to
advertisement put up by LIFE INSURANCE COMPANIES. The purpose of this study is to
understand, capture, assesses and evaluate the effectiveness of the advertisement.
We would appreciate if you could spend about 15 Min. and communicate your feelings,
expression, comments and impact on you with respect to the content of the advertisement.
Please give your honest opinion and be understood that this information collected will be
purely confidential and not to be .shared with any other entity in term of
commercialization.
PERSONAL PROFILE
NAME
AGE
OCCUPATION
E-MAIL ID
POSTAL ADDRESS
CONTACT NO.

17. Which media you use for information/entertainment?

TV
Radio
Newspaper
Internet
How often do you share interesting advertising with your family or friends?

Never
Rarely
Sometimes
Often
Very often
Have you seen any Life Insurance Product Ad?

Yes
No
On Which channel you watch mostly?

Zee T.V
Sony
Star
News Channel

18. If yes can you recall the content of the Ad?
Yes
No
Based on the features advertised, in that ad…... Rank the following
Strongly Somewhat Neither Somewhat Strongly
Agree Agree Disagree Disagree
The ad message is understandable
The advertisement is believable
The ad’s message is relevant to me
The benefits told in the ad are believable
to me
After viewing this ad, I’ll consider to buy
the product
This ad is much better than other ads for
products of the same category

19. Which company ad you find mostly?

LIC India
HDFC Std. Life Insurance Co. Ltd.
Birla Sun Life Insurance Co. Ltd.
ICICI Prudential Life Insurance Co. Ltd.
Reliance Life Insurance Co. Ltd.
Do you think this ad has influence you to……………….

Buy the insurance policy
Recommend the Insurance Policy
Suggest the insurance Policy
Can you recall if your family members ever tried to influence you to buy/secure a life

insurance Policy from the insurance company of her interest?
Yes
No
Which of the Insurance Policy would you like to buy?

Life Plan
Health Plan
Child Plan
Retirement Plan

20. Other than T.V Where you saw Life insurance ad?

Internet
Newspaper
Holdings
Friends/Family
Radio
Please rank the following Life Insurance Company as per your liking

HDFC Standard Life Insurance
ICICI Prudential Life Insurance
Reliance Life Insurance
Tata AIG Insurance Solutions
Bajaj Allianz

21. Share of Life Insurance v/s other insurance

22. Growth of Life Insurance Advertising

29. LIMITATIONS
• The research is confined to a certain parts of
Delhi due to time constraints and does not
necessarily shows a pattern applicable to all of
Country.
• Some respondents were reluctant to divulge
personal information which can affect the
validity of all responses.
• In a rapidly changing industry, analysis on one
day or in one segment can change very
quickly. The environmental changes are vital to
be considered in order to assimilate the
findings.

30. FINDINGS

31. Majority of the public uses television for entertainment

or information gathering, followed by newspaper and
internet. Radio is seems to be out dated in urban
areas. But after revolution in mobile technology and
satellite radio it has again started growing.
Majority of the public goes behind brand name.

That’s why corporate advertising plays a vital role in
growing stage.
It is also found that insurance companies like to give

their ads in News/Business channel.
Liking an advertisement does not mean that public

would like to buy that product.
If we talk about the private players, public’s first

choice is ICICI Prudential followed by HDFC Standard
Life and Reliance Life Insurance.

32. RECOMMENDATIONS
• After the initial promotional campaign the
relative advantage of ICICI PRUDENTIAL Life
Insurance Co. Ltd. Over its competitor should be
highlighted.
• Hoardings at prime areas should be used
• ICICI Prudential should come forward for
development of rural sector by way of
establishing a school, digging wells in villages. It is
one of the ways to gain trust in rural sector.
• ICICI Prudential can also use to advertise by
using the way of “Nukkad Naataks”. It is the most
creative and cheapest way of advertising.

33. THANK YOU..!