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Carat Media wins media account of IndiaFirst Life Insurance

MUMBAI: Carat Media, Dentsu Aegis Media Network’s media communication specialist, has won the media duties of IndiaFirst Life Insurance.

The account was won in a multi-agency pitch with eight major agencies participating. The names include Lodestar, OMD and BPN. DDB MudraMax-Media was the incumbent agency.

Carat Media India MD Kartik Iyer said, “Our team looks forward to working with IndiaFirst to create strong consumer centric digitally ahead solutions that will enable IndiaFirst to become the preferred choice of consumer. We are especially pleased that the team of IndiaFirst saw value in our offerings which are redefining media in the market and we look forward to a long partnership which enhances the brand of IndaiFirst in India.”

As part of its new mandate, Carat Media will handle the traditional media mandate for IndiaFirst Life Insurance including television, print, out-of-home, radio, cinema, activation and ambient. It will, thus, aim to create an integrated media communication ecosystem for its client.

In 2014, the agency won the accounts of General Motors, Microsoft, Nokia, British Airways, Mastercard, Ayurwin and Meiji. They started the year adding IndiaFirst Life Insurance to their kitty in the West.

Carat Media SVP West Himanka Das said, “We are happy to partner with IndiaFirst Life Insurance. It gives us a market advantage to win such a competitive pitch, as it demonstrates that Carat India is riding on proprietary consumer data analytics and tools to design unique engaging communication plans across touch points, beyond traditional media planning.”

IndiaFirst Life Insurance is a joint venture between two of India’s public sector banks, Bank of Baroda (44 per cent) and Andhra Bank (30 per cent), and UK’s financial and investment company Legal & General (26 per cent).

The company sells insurance plans, including life insurance, investment funds and group policies. Its product range covers protection (term insurance), savings, education and retirement. It has a range of group insurance products in forms of credit, life, term and employee liability (gratuity and leave encashment) plans as well. They have also introduced a range of health, pension and wealth accumulation plans.