TAM released AdEx’s overview of advertising by the Life Insurance category in the 3rd and 4th quarters of 2020. The Ad Volumes for Life Insurance category in Print increased by 34%. The Digital category witnessed a growth of 10%.
Simultaneously, Ad Volumes on TV and Radio slipped 8 and 41% respectively in Q4 2020 compared to Q3 2020.
19 new brands were introduced in the Print category, 6 brands in TV, and 5 brands in Radio, states the report.
In the print category, 60 % of the ads were in Hindi and English publications during Q4’20. South Zone topped in print in Q4’20 with 36% ad volumes.
LIC of India contributed 99% of the ad volume in the Print category in Q4’20. The highest number of new brands were introduced by LIC in print media compared to other media during Q4’20, namely LIC Jeevan Labh, LIC New Jeevan Shanti, LIC Children Money Back, LIC Jeevan Tarun, LIC Group Superannuation Cash Accum Plan.
The General Interest publication genre had a 90% share of ad volumes and the Business /Finance/Economy had a 10% share of the category’s ad volume.
The Ad Volumes for Life Insurance on Television witnessed a slight decline of 8% in Q4’20 compared to Q3’20.
Shriram Life Insurance Company contributed 34 % of ad volume in TV, and LIC of India contributed 27%. 6 brands, namely Pru Life Insu All-In-One Term Plan, LIC Children Plans, LIC New Jeevan Anand, PNB Metlife Guaranteed Future Plan, LIC Pension & Group Scheme were introduced in the TV category in Q4’20.
67% of the Life Insurance category’s ad volume were on News channels. News & GEC channel genres together added 87% share of ad volumes for Life Insurance on TV during Q4’20.
Life Insurance category’s advertising was mostly during News Bulletin and Feature Films programs, i.e. 55% of the ad volume.
The Morning, Afternoon, and Prime Time time band together added 77% share of ad volumes for ‘Life Insurance advertising’. 20-40 seconds ads covered 51% share of ad volume during Q4’20.
The Ad Insertions on Digital rose by 10% in Q4’20 compared to Q3’20. The Programmatic/Ad Network transaction method captured 81% share of the Life Insurance category’s ad insertions on Digital. ICICI Prudential Life Insurance Company contributed 80% of ad volume in Digital.
The ad volumes for the Life Insurance category on Radio dropped by 41% in Q4’20. Life Insurance Corporation topped on Radio with 99% ad volume contribution.
More than 55% of the category’s ad volume advertising was contributed by Top 4 states, Maharashtra, Gujarath, West Bengal, Tamil Nadu, during Q4’20. The morning and evening time bands together constituted 90 % shares of ad volumes during Q4’20.
LIC of India and Max Life Insurance Company were common advertisers across all media