Aims to empower them to live a ‘Fikar-free’ life
- New Brand positioning
- exemplifies the company’s focus to ‘partner’ consumers to live a Fikar-free life.
- expands the brand’s appeal with consumers across geographies, dialect, age, gender based segments
- effectively communicates Tata AIA’s diverse offerings across term insurance, guaranteed income, health & wellness and retirement solutions
- Humour led brand campaign features legendary athlete and Brand Ambassador Neeraj Chopra in a unique storyline
Bangalore, October 2023: Tata AIA Life Insurance (Tata AIA), one of India’s leading life insurance companies, has launched its new brand positioning theme, ‘Har Waqt Ke Liye Taiyaar’. The new theme highlights its focus on partnering with their consumers through diverse solutions and enabling them to lead a fikar-free life. The new positioning expands the brand’s focus on protection, effectively conveyed by the earlier theme of ‘Rakshakaran Ki Reet’. It thus enables Tata AIA to become lot more relevant and add value to consumers across the many special moments in their life.
The new positioning was finalized post multiple consumer research exercises that captured the macro trends as well as targeted survey to gauge response to specific positioning options developed. ‘Har Waqt Ke Liye Taiyaar’ stood out as the preferred choice for most of the consumers across geographies, gender, age groups etc. It specially resonates with the young and middle age groups. It is perceived as lively, action oriented, positive and projects a ‘with you’ attitude. Most importantly, the fact that ‘Har Waqt Ke Liye Taiyaar’ has been crafted in Hinglish and 6 other languages, the connect it establishes with people from different regions of Bharat is very encouraging.
To deliver this new brand theme, Tata AIA invited creative ideas from multiple agencies, eventually shortlisting the creative approach shared by Ogilvy India. The campaign centers around its Brand Ambassador, India’s legendary athlete Neeraj Chopra. In an unusual story line, Neeraj is seen in multiple avatars of Fortune Tellers. They are ranting about losing business since consumers are now fikar-free about their future with Tata AIA Life Insurance solutions. The creative has a tone of humour to it and beautifully conveys the brand’s message of empowering its consumers to be always prepared and fulfill their aspirations, while Tata AIA has their back. A consumer survey conducted post release of the campaign shows 96% of the 500 respondents really liked/ loved the campaign creative and messaging.
Commenting on the new brand philosophy/theme, Girish Kalra, Chief Marketing Officer, Tata AIA said: “‘Har Waqt Ke Liye Taiyaar’ is a clear, impactful and inspiring theme that effectively communicates our focus on partnering our consumers, enabling them to lead a fikar-free life. It resonates with our endeavor to offer innovative insurance, wealth creation, wellness and retirement solutions coupled with ‘best in class’ service to our consumers, always.”
Girish adds, “The creative is quite unique since it showcases our Brand Ambassador, Neeraj Chopra, in ‘never seen before’ avatar. Our association with Neeraj over the last 2 years has been very exciting and fulfilling for both partners. We are committed to building on this further in the years to come. He is an inspirational personality, rooted in his behaviour and an amazing human being.”
Sukesh Nayak, CCO, Ogilvy India adds, “Tata AIA’s unique offerings are designed to keep people ‘Har Waqt Ke Liye Taiyaar’. Building on this platform, the campaign takes a tongue-in-cheek view of how fortune-tellers would react to a world in which everyone is fikar-free for their future – thanks to TATA AIA’s life insurance plans. And who better to bring this alive than an elite athlete like Neeraj Chopra for whom being prepared makes all the difference. The country has time and again seen Neeraj’s talent with the javelin, but in this campaign, we hope his masterful acting – pulling off 4 different avatars, will wow audiences.”
To promote the new brand theme campaign, TATA AIA has taken a multimedia approach focusing on OTT, TV & Music Apps. The brand has tied up with Disney Hotstar and will be displaying the campaign creatives more than 500 million times during the India played matches as well Semi-finals and finals of ICC Men’s Cricket World Cup 2023. The campaign will also be telecast on 25 TV News channels in 7 languages across 14000+ ad spots spread over a period of 45 days. Additionally, the brand has also allied with Jio Saavn for video ads to be played with song lists.
Tata AIA Life Insurance is a leading brand in the market. It offers diverse solutions including Term Insurance, Guaranteed Income plans, Health & Wellness solutions as Retirement products for a diverse set of consumers including Women, HNI, NRI, MSME, Pre-retirees across the length and breadth of India.
Brand creative film – https://www.youtube.com/watch?v=QXDD0Y8J5nQ
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA) is a joint venture Company formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world, spanning 18 markets in the Asia Pacific region.
Tata AIA reported an Individual Weighted New Business Premium (IWNBP) income of INR 7,092 Cr in FY23, an increase of 59% over FY22. The Individual Death Claims Settlement ratio improved from 98.53% in FY22 to 99.01% in FY23. The Persistency ratio, reflecting the percentage of consumers who choose to renew their policies with Tata AIA, has earned the Company the top rank in four out of five cohorts, including 13th-month persistency. Compared to FY22, the 13th Month Persistency ratio (based on Premium) of the Company improved to 88.1%.
About the Tata Group
Founded by Jamsetji Tata in 1868, the Tata Group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals. The group operates in more than 100 countries across six continents, with a mission ‘To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’.
Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture. In 2022-23, the revenue of Tata companies, taken together, was $150 billion (INR 12 trillion). These companies collectively employ over 1 million people.
Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly listed Tata enterprises with a combined market capitalisation of $300 billion (INR 24 trillion) as on July 31, 2023.
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets–wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$276 billion as of 30 June 2023.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 41 million individual policies and 17 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.