One of the key competition factors in the insurance business is the trust on the brand. The reason LIC has been working so well is because over a period of time it has developed a very high brand equity where Insurance is concerned. The backing up by the government also helps in creating brand equity for LIC. However, Max new york life insurance now seems to have realised that besides brand equity, another thing which can attract customers is TRUST. And that is exactly the value which Max new york is targeting.
The communication seems to be very clear – Our sales representatives do not lie to you. They would squash the devil inside and would tell the truth and wait patiently for your answer. If you notice, not only is the devil shown to be ignored, but in each ad, the insurance person is shown to be waiting patiently for the customer to finalise. This aspect targets another factor involved in insurance sales which is high pressure by sales executives and thereby sales resistance by customers.
Today there are so many calls which each company makes for purchasing insurance, that insurance has created a mental block in peoples mind. People feel that insurance agents would be breathlessly running behind them for signing up for an insurance policy. The Max new york life insurance ad proves otherwise. It shows that their sales executive is ready to wait patiently while the customer takes his own time to sign up for the insurance policy. The customer can also read any terms and conditions as well as can ask any questions which he feels relevant and the sales representative will give the correct answer. What further can you ask from a service brand?
The ad seems to be well shot and narration is superb. The best part is the devil who has been disguised very well. He actually looks both – scary and hilarious. The voice over is excellently done and gains immediate attention. In the end, the main actor looks very convincing and honorable and therefore immediately gains our trust.
Hoping that the devil is actually crushed for Max new york life insurance and that it finds a healthy growth in its customer base in the near future.
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