An integrated marketing communications campaign proposal for Generali

• Main Author: Capati, Elaine Rose D.
• Format: text
• Language: English
• Published: Animo Repository 2016
• Subjects: Life insurance—Marketing; Branding (Marketing); Marketing
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/4866; https://animorepository.dlsu.edu.ph/context/etd_masteral/article/11704/viewcontent/Elaine_Rose_Capati_IMC_Generali2.pdf
• Institution: De La Salle University

The Philippine insurance market has seen exceptional double-digit growth in recent years. At present, there are about more than 25 million Filipinos covered by life insurance. This development is brought about by a relatively strong Philippine economy which grew to 6.1% full year gross domestic product (GDP) in 2014 which was primarily driven by the country's rising middle-class population, increased urbanization and the underpenetrated life insurance segment. The insurance industry in the Philippines truly does offer significant future growth potential. It is set to benefit from steady improvements in household income rates and life expectance which will boost demand for a range of savings and retirement products. The country's employed population has constantly increased as well, and the quality of employment is promising. Together with this increase is the rising market base of BDO, the official bank partner of Generali Philippines for Bancassurance, which remains to be untapped. With the help of BDOs strong brand equity, Generali Philippines was able to maintain its spot in the Top 10 life insurance ranking nationwide for the past years, even just in the lower ranks. However, the company is still experiencing low brand awareness. This Integrated Marketing Communications Campaign aims to address the issue on low brand awareness, strengthen brand equity and create strategies on how to capture the untapped rising market base of BDO. Another intention of this campaign is to also educate both internal and external communities of the life insurance in general its benefits, how this will become helpful for the future, how to position it as a solution for ones financial needs, and mostly, how this will become one of the most important purchases in ones life. With a marketing budget of PHP25 million for 2016, this campaign will be channeled through a mix of advertising tools that include Out-of home promotions, digital media, events and direct marketing.