Insurance Regulatory and Development Authority of India (IRDAI) has released tenders inviting creative and media investments agencies to pitch for its advertising business.
IRDAI is a statutory body formed under an Act of Parliament, i.e. Insurance Regulatory and Development Authority Act, 1999 (IRDA Act, 1999) for overall supervision and development of the insurance sector in India.
IRDAI has a key role in the economic development of the country and also drives an impressive social development agenda. Consumer protection through financial literacy and awareness is an important function of IRDAI. Under the ambit of this function, IRDAI has undertaken an awareness initiative titled “Insurance for all by 2047 – Life, Non-Life & Health Insurance”. The ultimate objective of the initiative is to increase insurance penetration in the country to achieve the last mile coverage.
IRDAI has invited applications for empanelment of Advertising Agencies for designing and developing the creatives for undertaking multimedia, multilingual Pan-India public awareness campaigns for disseminating information to members of the public.
These campaigns will be executed in at least fourteen languages, viz., Hindi, Assamese, Bangla, Gujarati, Kannada, Malayalam, Marathi, Oriya, Punjabi, Sindhi, Tamil, Telugu, Urdu, and English, with focus on regional languages.
The media mix will include print (newspapers, magazines), radio, television, cinema halls, digital media (including web portals and social media), mobile phone communication, public transport including railway/metro stations, outdoor etc. The list is illustrative and not exhaustive.
IRDAI has also invited proposals for empanelment of accredited Media Agencies. The empaneled agencies would be required to suggest a media strategy to IRDAI and to buy space in various media for releasing the advertisements.
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