The child insurance market is highly under-penetrated

Pradeep Pandey,
Director (Branding & Comm.), AEGON Religare


4Ps B&M: What has been the impact of “Star Child” ad campagin?
PP: Our objective was to release a clutter-breaking communication capturing the emotions and aspirations of middle class Indian parents. We have received a tremendous response towards the Star Child campaign. People across age groups have liked the commercial, given the unique style of execution where an 18-month-old child performs expert moves such as an ace footballer and a guitarist.

4Ps B&M: How do you see the market of child insurance?
PP: The child insurance market is highly under-penetrated, as is the case with life insurance. Every parent wants to build a secure future for their children. This require savings and or investments towards children’s career, education or marriage. AEGON Religare Star Child Plan helps the parent save systematically for their kid. A unique feature in our Child Plan is that in the case of the death of the parent, the child will get the sum assured immediately and all the future premiums will be paid by the insurer. At the end of the policy term, the child will get the fund value as well. The parent also gets the added benefit of tax saving for as long as they pay the premiums.

4Ps B&M: How are you marketing the child insurance policies? Any special strategy that you adapt for the same?
PP: Our spends for the current Star Child campaign was Rs.8 crore across TV, Print, OOH and Digital medium. TV is the lead medium for us followed by OOH. We will release a complete social media strategy for the child insurance category, among other categories, shortly.

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Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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