Life insurance advertising in print sees steepest climb of 34% in Q4 2020: TAM AdEx

Life Insurance has become an important proposition in the pandemic era, as people have become more aware about taking care about themselves as well as their families in uncertain times. Keeping in mind this growing consumer adoption of life insurance and health insurance, brands in this category are also seeing increasing traction and advertising activity.

As per TAM AdEx’s overview of advertising by the Life Insurance category in the 3^rd and 4^th quarters of 2020, ad volumes for the Life Insurance Category in Print increased by 34% in Q4’20 compared to Q3’20, while the growth on Digital was 10%. On the other hand, ad volumes for Life Insurance on TV and Radio slipped by 8% and 41%, respectively, in Q4’20 compared to Q3’20.

Category ranking remained same in all Media during both the quarters Q3 and Q4 of 2020. Among all the categories under BFSI Sector, Life Insurance topped in Radio & Digital media, while it ranked 2nd in TV and 3rd on Print in Q4’20. LIC of India and Max Life Insurance Company were the common advertisers across all media.

Count of New Brands:

On TV: 6 Brands

In Print: 19 Brands

On Radio: 5 Brands

Digital

On Digital, Programmatic/ Ad Network transaction method captured 81% share of Life Insurance category’s ad insertions on Digital. Ad Insertions on Digital rose by 10% in Q4’20 compared to Q3’20. On Digital, ICICI Prudential Life Insurance Company dominated the ad volumes with a share of 80%.

Television

Ad Volumes for Life Insurance on Television declined by 8% in Q4’20 compared to Q3’20. The top 3 channel genres together added 92% share of Life Insurance ad volumes during Q4’20 on TV. News and GEC channel genres together added 87% share of ad volumes for Life Insurance category on TV during Q4’20. Life Insurance category’s advertising was mostly during News Bulletin and Feature Films programs, that is, 55% of the ad volumes. For Life Insurance advertising, Afternoon was the most preferred time-band on TV, followed by Morning and Prime time-band. Afternoon, Morning and Prime Time time-bands together added 77% share of ad volumes.

Print

Advertising in Print increased by 34% in Q4’20 compared to Q3’20. In Print, 60% of the category’s ads were in Hindi and English publications during Q4’20. General Interest publication genre had 90% share of ad volumes and Business/ Finance/ Economy had 10% share of the category’s ad volume. South Zone topped with 36% ad volume share in Print during Q4’20. Mumbai and New Delhi were the Top 2 cities in overall India level during Q4’20.

Radio

Ad volumes for the Life Insurance category on Radio saw the steepest drop of 41% in Q4’20 compared to Q3’20. More than 55% of the category’s ad volumes was contributed by Top 4 states – viz. Maharashtra, West Bengal, Gujarat and Tamil Nadu during Q4’20.

Advertising for the Life Insurance category on Radio was preferred in the Morning and Evening time-bands, both of which together had a 90% share of ad volumes during Q4’20.