Havas Media bags integrated media duties of Bajaj Allianz
MUMBAI: Havas Media India has bagged the integrated media duties of Bajaj Allianz Life Insurance, one of the leading private players in the insurance sector in India. The agency also handles media duties of Bajaj Finserv, the financing arm of Bajaj Group.
The account size is estimated to be upwards of Rs 50 crore and will be handled out of the Mumbai office led by Kunal Jamuar, Managing Partner – West and South, Havas Media India.
Led by Tarun Chugh (MD and CEO), Bajaj Allianz Life Insurance began operations in 2001 and today has a pan-India presence of 759 branches. It is headquartered in Pune, India.
Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv Limited (formerly part of Bajaj Auto Limited) owned by the Bajaj Group of India and Allianz SE, a European financial services company. The joint venture incorporates global expertise with local experience. The comprehensive life insurance solutions, cover a range of services, operating through Participating, Non-Participating, and Linked segments.
Bajaj Allianz Life Insurance also launched digital branches through Mosambee, a handheld device that offers the services of a mobile branch and assists customers with an entire range of customer services. Currently, Bajaj Allianz has a strong life insurance portfolio and caters to all kinds of customer needs from ULIPs to Child plans, from group insurance to health insurance.
Bajaj Allianz CMO Chandramohan Mehra said, “To offer a differentiated yet relevant proposition to our customers, we have embarked on a brand re-orientation journey. We will rely on deeper customer insights and data-driven actions for a holistic brand transformation. Agility and consumer-centric mindset from our teams and partners will be key to our deliveries. We look forward to a long and mutually beneficial relationship with Havas.”
Havas Media Group CEO India and South Asia Anita Nayyar said, “We are proud to take on the mandate of yet another pioneer brand. Bajaj Allianz combines with it comprehensive life insurance solutions, technical expertise and in-depth market knowledge and goodwill of ‘Bajaj’ brand in India. It has developed insurance solutions that cater to every segment and age-income profiles. We look forward to carving a meaningful brand strategy and taking the brand to greater heights.”
“Bajaj is a pioneer brand that thrives on consumer trust and enjoys a reputation of expertise, stability and strength. Competitive pricing and customized life insurance solutions have earned Bajaj Allianz Life the customers trust and market leadership in a very short time. At play will be Havas Media Group’s integrated media skills centered on digital and our ‘Meaningful Brands’ framework which will together map the brand chart for Bajaj Allianz. According to our research, brands that are meaningful enjoy 80% higher intent of repurchase in the insurance industry. We look forward to a successful collaboration,” added Havas Media Group India MD Mohit Joshi.