According to CMO Colin Chan, the review is part of the company’s regular process, and Great Eastern has not issued a formal RFP.
The company is currently rolling out a massive campaign to mark Singapore’s 50th anniversary, and has worked with several agencies for its various initiatives. Chan said the company has increased its marketing budget significantly for the year-long campaign. “As a homegrown company with a long tradition, we felt it was only right to do something to celebrate this,” Chan said.
In line with this, all babies born in 2015 will receive free insurance, worth $108, for their first year.
We will have a full interview with Chan about the 50th anniversary initiative next week.
Update, 12 December: Great Eastern has reached out to clarify that it has no plans to review its media-buying agency at this time
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