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'Thefocuscan't
justbeonscoring
highmarks'
October31,200612:43IST
Howwouldyoureactifyoufoundahorsecarriageinacarpark?Surprised?Confused?That
justaboutsumsuphowtheparkingattendantinIFFCOTokio'snewtelevisioncommercial
lookswhenheseesawelldressedexecutivetrottinginonahorsecarriage.
Andbeforehecanbegintorelatewiththisdifferentmodeoftransport,theexecutivegives
somesugarcubestotheattendanttofeedthehorsewhilehe"parks"hisvehicle.Awry
messageappearsonthescreen:"Stillwaitingforyourcarinsuranceclaim?"andthe30second
adfilmendswiththeparkingattendantstrugglingtotakecareoftheanimal.
ThenewcampaignisfurtherproofofthereinventionofIFFCOTokio.Startedin2001asa
nonlife(general)insurancecompanywithafocusoncorporateinsurancewithproductslike
fireinsurance,ITinsuranceandsoon,thecompanyisnowlookingatexpandingitsreachby
includingretailservices.
TheLove
Hormone:How
muchdoyou
know?
10powerfulways
tostandoutat
work
IndonesiaOpen:
Kashyap,Sainain
quarterfinals
Untilrecently,thecompanyhasconcentratedonruralmarkets,withspecificproductslike
weatherinsuranceandfarmers'policies.
Now,itistargetingurbanconsumerswitharetailportfoliothatincludesproductslikemotor
insurance,homeinsurance,travelinsuranceandsoon.
Thisyear,theretailportfoliowillgrow10percenttoaccountfor55percentoftotalbusiness.
Thecompanyalsoaimstoexceedlastyear's1.5millionpolicysalesfiguresbyanother40per
centthisyear.
'Restrictedentry
fornonHindusin
Somnathtemple
wrong':Paswan
Whatarelief!You
don'tneedtopay
tollontheSion
Panvelhighway
AjointventurebetweenleadingfertiliserproducerIFFCOandJapan'sTokioMarineandFire
Insurance,IFFCOTokioistheNo.3playerinthenonlifeinsurancesegmentafterICICI
LombardandBajajAllianz.
WhyAtalPension
Yojanaismost
likelytoflop
Lastyear,thecompanymarkeditsdecisiontobecomeamassplayerbybringingonboard
DenstuMarcom,Delhi,tocommunicateitsgeneralinsuranceofferingshomeinsurance,
motorinsuranceandsoon.Theawardwinningprintandtelevisioncampaign,withthetheme
"whicheverwaylifetakesyou,we'llbethere",helpedincreasebrandrecall(fromnearzero
levels).
'Ihatemyselfon
screen'
Thistimeround,thefocushasbeentweakedslightly."Lastyear'sadsspokeaboutourretail
products.Now,wewantedacommunicationthatwouldhighlightourpluseslikehasslefree
serviceandtimeliness,"explainsAjitNarain,CEOandMD,IFFCOTokio.
Todothat,thecompanydecidedtohighlightmotorinsurance,whichaccountsfor40percent
ofallnonlifeinsuranceandissecondinpopularityonlytolifeinsurance.
PIX:Bipasha,
Riteish
Deshmukh,
Parineetileave
forIIFA2015
Thechoiceofpolicyisalsoaperfectfitwiththecompany'stargetcustomersmeninthe2545
http://www.rediff.com/money/report/iffco/20061031.htm
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6/4/2015
HowIFFCOTokioattractsurbancustomersRediff.comBusiness
yearagegroup.Researchbythecompanyhasshownthatmorementhanwomenarethe
decisionmakersonnonlifeinsurancepolicies.
Thecarinsurancethemeremainsthesinglepointofcommunicationacrossallmediapress,
outdoorandonline.TheadisbeingcurrentlyairedonmassentertainmentchannelslikeStar
VidyaBalan:One
hitfilmandthings
willchangefor
meagain
Plus,SETMaxandbusinesschannelslikeAajTak.
Theprintadvertisement,too,whichshowsanundergroundcarparkwithahorsecarriage
parkedalongsideothercars,willappearingeneralnewsmagazineslikeIndiaToday,
newspapersandautomagazines.
"Theideawastohighlightcustomerservicesthroughasinglecreativethatiswidely
understoodbyourtargetaudience,asthiswouldincreasethebrandvisibilityandrecallvalue,"
saysNitinSuri,executivecreativedirector,DenstuMarcom,Delhi.
Still,neitherclientnoragencywantedtotakeachancewithanadthat'sratherdifferentfrom
theusualinsurancecommercials.Sobeforethemassrelease,Dentsuconducteddipstick
surveysamong300consumersinDelhi,MumbaiandChennai.
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BSE26,813.42
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EnterCompanyorMutualFund
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TopGainerUnitechLtd.+8.97ViewAll
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Therespondentswerealsoquizzedontherecallofvariousnonlifeinsuranceproductsandjust
howimportantwastheissueofpromptpaymentofclaims.
Theresultsweren'ttoosurprising:consumersaren'treallyawareofdifferentbrandsofnonlife
insuranceproducts,buttheydoplaceapremiumontimeliness."Theadunderlinesthefact
thatforIFFCOTokio,turnaroundtimeisasimportantasthecarinsurancepolicy,"saysSuri.
Thecompanyclaimsasuccessrateofover90percentinsettlingclaimswithinsevenworking
daysofsubmissionoftheclaim.Recentinnovationsincludeonlinetrackingofaclaim's
progressandofferingSMSalertsaboutthestatus.
"Thesemovesincreasecredibilityandalsoaddapersonaltouch,whichwillhelpincrease
customerassurance,"saysMukeshPilania,head,brandmanagement,IFFCOTokio.
RegionallanguagevariantsoftheTVChavebeenmade,ashaveshortereditsof15and10
seconds.ThesewillbeonairacrosscableTVchannelsforthenexttwotothreeweeks.Butit's
notjustaboutadvertising.CrosspromotionswithautocompanieslikeToyota,Hondaand
Suzukiarebeingplannedandongroundpromotionswillstartnextweek,retainingtheequine
theme.
ShoppersinGurgaonandMumbaiwillsoonseeacarriageparkedoutsidetheirfavourite
malls.IFFCOTokiostallshavealsobeensetupnearby,whereinformationwillbeprovidedon
thetypesofpolicies,theclaimprocessandsoon.
"Suchinteractiveactivitieswillhelpcreateastrongfootholdforthecompanyandincrease
brandassociation,"declaresSuri.There'sevenasignaturetuneforthecompanynow.It'sbeen
usedintheTVSandwillbeplayedonallcompanyphonelinesandduringcorporateevents.
http://www.rediff.com/money/report/iffco/20061031.htm
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HowIFFCOTokioattractsurbancustomersRediff.comBusiness
Ofcourse,noneofthatwouldbereallyrelevantifthecompanydidnothavethenecessary
infrastructureinplace.
Inthepastyear,IFFCOTokiohasestablishedfivecustomerservicecentres,100officesand
500exclusivedistributorpointsacrossIndia.And,thenumberofdistributorshasgoneupby
nearly150from350overthesameperiod.
"Wewantedtoensurethatourdistributionandservicesweregoodenoughtoprovidethebest,
wherepolicyholdersdon'thavetobegfortheirownmoneyduetolengthyclaimprocedures,"
explainsPilania.
WhoDidWhat
Client:IFFCOTokio
Agency:DentsuMarcom,Delhi
Creative:NitinSuriandChraneetaMann
Clientservicing:ChandyMohapatra
MeghanaBiwalkarinMumbai
Source:
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