Insurance brands in upmarket shift


LONDON - Banking and insurance brands are looking to tap into a growing consumer demand for premium financial products.

French company AXA has revealed it will launch a direct car insurance brand, aimed at more affluent consumers, which will roll out this winter.

AXA already operates in the direct insurance market through its Swiftcover brand, which uses brand ambassador Iggy Pop to target young men. However, AXA UK group marketing director Olivier Mariée said the upcoming venture will focus on ‘more discerning' consumers.

Several financial-services groups, including Allianz, have also recently forged plans to take their corporate brands directly to consumers.

Last month, Zurich rolled out its direct insurance business, Zurich Connect, backed by an ad campaign.

In January, Nationwide Building Society also entered the insurance market with a joint-venture with insurer LV=. Robin Bailey, insurance director at Nationwide, said it would avoid using ‘budget' ads.

Chris Watney, the head of brand for Churchill and Privilege at RBS Insurance, agreed that there is an opportunity for more premium entrants to the market.

‘The high-end of the motor insurance market has traditionally been the preserve of specialist brokers, so there is definitely room for direct brands to come in and shake things up,' he said.

According to Tom Knox, chief executive of ad agency DLKW, brands are attempting to recreate the success of RBS-owned Direct Line. ‘Insurance is difficult to market,' he said. ‘Direct Line became known as a price brand but added a sense of service. It proved that consumers are willing to pay a premium if they are handled properly.'


Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Brand Republic Jobs

subscribe now


Lynx tells men not to leave love to fate
HBO captures awkwardness of watching sex scenes with parents
Primark to open first US stores with Boston chosen as flagship location
Marketing spend on the up but a reality check is needed before celebrating
Top 10 ads of the week: Jackpotjoy and BT Broadband fend off Kevin Bacon
Lidl beats Tesco to 10m Facebook fans
Center Parcs ad banned for encouraging parents to take kids out of school
Coca-Cola, Cadbury and Amazon named top brands for targeting youth market
Leaked document shows Nokia to be rebranded as Microsoft Mobile
Nike lays-off hardware staff in move that casts doubt on future of FuelBand
Greenpeace says save the bees or humans will die
What brands need to know about changes to VAT and online downloads in 2015
Jimmy Savile victims urged to claim compensation in new ad campaign
UKIP launches biggest  ad campaign and stirs up 'racist' accusations
Apple boss Tim Cook provides voiceover on ad touting firm's renewed green commitments
John Lewis walks consumers through its history to celebrate 150 years of business
Waitrose boosts content strategy with 'Weekend Kitchen with Waitrose' C4 tie-up
Hottest virals: Cute puppies star in Pedigree ad, plus Idris Elba and Fruyo
Amnesty International burns candles to illuminate new hope
Toyota achieves the impossible by calming angry Roman drivers
Tom of Finland's 'homoerotic' drawings made into stamps
YouTube reveals user habits to appeal to 'older' marketers
Ex-M&S marketing chief Steven Sharp consulting at WPP
Wolff Olins reveals new CEO after Apple poaches Karl Heiselman
Glasgow offers £30,000 prize to best digital idea for 2014 Commonwealth Games
Google's revenues surge but shares drop as it grapples with transition to mobile
Facebook beats Twitter to most 'marketing friendly' social media site crown, says DMA
Fableists believe children like Finn should be outdoors enjoying life
Homebase, Baileys and Camelot join the line-up at Media360
MasterCard renews Rugby World Cup sponsorship to push cashless message