GI Council and IRDA launch Non-Life Insurance Awareness Campaign

Objective

  • To increase awareness for Non-life insurance
  • First of its kind, Pan-India Campaign to be released across Television, Print and Radio medium
  • Creatives developed in 11 Indian languages

New Delhi, April 12, 2013: General Insurance Council (GI Council) has launched a first of its kind campaign to create awareness and the need to avail non-life insurance among Indian consumers. The Pan-India Campaign is being released with the support of Insurance Regulatory and Development Authority (IRDA) and would be rolled out across television, print and radio media. The campaign was inaugurated by the Honorable’ Finance Minister, Shri P. Chidambaram at an event in New Delhi.

The initiative involves distinct creative/s developed for specific non-life categories i.e. Rural, Home, Health, Motor and Motor Third party insurance. The creatives have been developed in 11 languages - English, Hindi, Marathi, Gujarati, Tamil, Telugu, Kannada, Malayalam, Bengali, Oriya, Assamese.

The creative focuses on the fundamental benefit of insurance, i.e. indemnity, wherein an insured can get back to the position before the occurrence of loss/ damage having availed insurance. The creative is based on a key consumer insight revealed through research - ‘I wish I could go back in time’, which would have allowed the individual to avail insurance and thereby mitigate the risk associated with a mishap/ calamity. Taking this insight forward, the creative uses the ‘Rewind’ mechanism which puts the insured back into the situation before the loss. The headline complements the story line with the message ‘Kar Lo Insurance. Kar Lo Rewind’.

Mr. R Chandrasekaran, Secretary General, General Insurance Council said “ We are aiming to position Non life insurance industry and products distinct from Life and other financial sector products by spreading the fundamental message of indemnity to all citizens. Awareness Campaign would be followed up by Education and Literacy campaign in various locations. Sustaining both awareness levels and enhancing knowledge amongst the insuring public through product neutral education by the Council would help to spread the message of general insurance amongst cross-sections of the Indian population (so far uninsured).

The Campaign will go on air from April 13, 2013 and will run for a period of 2 months. The second phase of the Campaign is planned from September and October 2013. 

A pre-campaign research was conducted across 22 locations (urban and rural) to gauge current awareness levels and perception regarding general insurance. The Council plans to conduct a post campaign study to evaluate the effectiveness of the advertising initiative. It will also draw a road map for further initiatives in the future thereby continuing to put efforts towards increasing the spread of general insurance amongst those so far uninsured.

The Gross Underwritten Premium (GWP of general insurance was Rs. 69,000 crores (penetration being 0.71% of GDP) for the financial year 2012-13.

 

About General Insurance Council

General Insurance Council (GI Council) is an industry association representing the General insurance industry comprising 27 Non-life Insurance companies in India. The Council’s vision is to provide leadership on issues having a bearing on the industry's collective strength and image and to shape and influence decisions made by the Government, regulator and other public authorities to benefit the industry and consumers collectively. 

The GI Council has been leading a number of initiatives by bringing together experts from its member companies, the national re-insurers and the regulator in a common forum for debating specific issues from time to time and helps resolve them in a structured fashion.

For more details, logon to www.gicouncil.in

Media contact: Mr R Chandrasekaran (Mobile No. 97693 30230)

rcsekaran@gicouncil.in

General Insurance Council

Royal Insurance Bldg., 5th floor

14, J Tata Road, Churchgate

Mumbai 400 020

Tel No. 022 2281 7511/12