Partners with Havas CX India to bring out this distinctive innovation for its product ‘iTerm Prime’
Mumbai, 28 February 2023: Aegon Life Insurance, Digital India’s life insurance company, has launched a unique campaign for its flagship term product, iTerm Prime. The campaign, dubbed ‘iTerm Toh Tension Khatam’ is a print advertisement that comes to life on mobile and sings for its audience.
Conceptualised by Havas CX India, the tension-free campaign reinforces the brand’s commitment to making every household financially secure. The innovative print ad narrates the benefits of the product along with a special 10% discount for self-employed individuals. To interact with it:
Readers scan the QR codes placed on the advertisement
Their phone comes to life and showcases the product in a way that benefits the customer.
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YouTube link of this innovative ad -https://www.youtube.com/shorts/cRgXV7TU9Qc?feature=share
Talking about the campaign, Akhil Almeida, Head of Marketing, at Aegon Life Insurance, said “iTerm Prime makes life insurance accessible to Emerging India – the aspirational class who needs insurance but does not have the documents that are required by legacy insurance companies. It removes a lot of barriers that stand in the way of consumers getting adequate financial protection. iTerm Prime is easy to buy, affordable, requires zero documentation, and can be tailored to suit a consumer’s needs.
With this latest innovation, we’re now resetting expectations for what traditional media can achieve. Not only is it building salience and trust, but it’s showcasing the product in a way that benefits the customer. A person viewing this ad doesn’t need to download an extensive brochure or get spammed by unwanted sales calls. They can make the decision right then and there – and secure their loved ones in a jiffy.
Whenever we consider a marketing innovation, we consider what value it adds to the customer. The typical buying cycle for a life insurance policy is measured in weeks, and for most brands, it requires multiple interactions with a customer before they finally make a purchase. At Aegon Life, the process is so simple now that we’ve seen customers scan our QR codes and complete a life insurance purchase in a matter of minutes. This reinforces our belief that if you create something that addresses a customer’s need and package it appropriately, the customer will adopt it. And it can drive a huge shift in the industry.
iTerm Prime’s zero-documentation process, coupled with its wide range of life-covers, enables customers to independently navigate the purchase journey with ease,” added Almeida.
The customer is always at the center of everything Aegon Life Insurance does. With ‘iTerm Toh Tension Khatam,’ the goal is not only to inform consumers about a differentiated offering but also to do so in a way that engages the audience and helps the brand stand out in a category that otherwise avoids experimenting.
On the campaign launch, Prashant Tekwani, Managing Partner, Havas CX India, said, “Life Insurance in the mind of the consumer is very confusing, and the brands and the terms and conditions don’t help much. When we partnered with Aegon Life, we fell in love with the approach of being “Easy and Honest”, and this innovation and campaign is an attempt towards the brand’s philosophy. When we first heard about the product and the inspiration behind its design for “Emerging India”, we wanted to go beyond the idea of a simple print ad. Print is an important medium in the consumer journey for the product, and when it is blended with innovative technology, the result makes you sit up and take notice. We created the interactive print ad to talk about the product and give consumers an experience that brings it to life, keeping in mind the product and its benefits for the self-employed segment of India. We are proud to make this idea come to life with Aegon Life.”
iTerm Prime Insurance plan is Aegon Life’s flagship term insurance product, catering to the needs of self-employed individuals. The company is offering a special 10% discount (5% discount in addition to a 5% online discount for all) on the 1st-year premium. Designed with Emerging India in mind, iTerm Prime offers a minimum life cover of ₹25 lakh, with no upper limit, making it accessible to a majority of the population with different insurance needs. The product can be purchased on Aegon Life’s website (www.aegonlife.com) and through its partners; the buying process is completely paperless and requires zero documentation or uploads.
The product also offers a ‘Special Exit Value’ option that allows the policyholder to get all premiums back when they turn 55 years old.
In addition, the brand is running three more ad films that depict the benefits of savings insurance humorously.
Link to digital ads –