NEW DELHI: MediaCom has beaten two agencies, including Zenith
Media, for the estimated US$2 million account of Dabur-CGU, the
newest joint-venture insurance entrant in the market.
The incumbent on the account, Ogilvy & Mather, has retained the creative
assignment.
MediaCom won the agency of record business for media planning and buying
from O&M.
Dabur-CGU, one of four joint-venture pairings between a local
corporation and an international insurance player since the Indian
Government opened the life insurance sector to private companies,
expects to launch operations in India in the next four months.
MediaCom India's administrative head Ashutosh Khanna said the life
insurance landscape had become very competitive since its privatisation
late last year.
"I see the fight happening at the upper end. Distribution is admittedly
important, but it won't be just a numbers game. It will be more about a
return on investment," Khanna added.
"Going forward, the challenge is to develop accurate targetting of
potential consumers - high net worth individuals - via media planning,
that is, reducing wastage as well as delivering media weights in the
most cost-effective way."
