New Delhi: Following its rapid expansion into smaller cities, Insurance firm Metlife India is undertaking a brand re-positioning exercise, for which it will launch a Rs25-crore advertising campaign.
The company has also changed its slogan to ‘Peace of Mind Guaranteed´ from the earlier ‘Have you met life today´, as it looks to get in closer touch with Indian customers.
“As we penetrate deeper into the domestic market, we would like to Indianise the brand appeal in line with our expansion plan in India,” said Pankaj Raj, director marketing, Metlife India.
He said the company’s reach in the country had gone up to 600 contact points last year from 43 in 2006 and the need was to reposition the brand to make it relevant to the Indian market.
“Our aim is to be a formidable player in the insurance sector in India and grow faster than the industry growth rate,” he added.
The company will begin its new advertising campaign on 25 January for the repositioning exercise developed by Mcann Erickson.
Commenting on the growth of the company in India, Raj said in 2007, Metlife’s turnover was Rs620 crore, 150% up as compared to that in the previous year, while the overall industry growth was at 70%.
On the campaign, Debashish Paul, senior vice-president and general manager, Mcann Erickson (Delhi)said, “the move is targetted at taking the brand to the next step of evolution in India.”
The new campaign has been conceptualised by Prasoon Joshi and directed by ad filmmaker Pradeep Sarkar.