Aegon Drives Direct Life Sales in Spain

Aegon Seguros, Spain, October 28, 2013

Aegon has a client base of more than one million customers in Spain. They also have an asset which they’re confident they can leverage – the Aegon brand. An extensive cross-media advertising campaign has recently been launched.

Aegon Spain Direct Life Insurance

Aegon Spain Direct Life Insurance
Aegon Spain Direct Life Insurance Aegon Spain Direct Life Insurance

“Part one of the campaign follows a little girl through the potential phases of her life,” explains Nicolás Cúneo Schlaen advertising, Brand and Media Manager for Aegon Spain.

“Launched on national TV channels, themed TV channels, pay-per-view TV, radio, print and digital channels, its main goal was to increase Aegon’s brand awareness. The campaign reinforces Aegon’s positioning as modern, fresh and above all customer centric.”

Customer motivation

Phase two of the campaign was launched cross-media on October 15. It is based around four TV commercials. Each one addresses one of the drivers or barriers to purchasing life insurance, identified during research carried out by Aegon.

The commercials continue to build brand image, but contain a clearer call to action. This is helping to drive traffic to the company’s website where customers can use the online calculator and find a life-insurance solution that meets their needs most closely.

Market opportunity

The rationale for focusing on life insurance was driven by a combination of Aegon research and a detailed study by McKinsey& Company. “We’ve identified a clear market opportunity. In comparison to the private health market, the Spanish direct life-insurance market is still quite immature in terms of the products offered,” says Nicolás Cúneo Schlaen. “Furthermore, increasing internet usage is driving consumers towards online channels.”

Understanding the market

With the market opportunity clearly identified, Aegon carried out a detailed research to understand the reason why life insurance has a relatively low penetration in Spain, compared with other countries. “We now have a clear understanding of what motivates people to purchase life insurance,” concludes Nicolás Cúneo Schlaen.

“This understanding has helped us to develop a 100% customer-centric campaign, which was confirmed during pre-testing with potential customers. And a key differentiating factor for the campaign is that customers can quickly and easily find a solution online.”

Written by: Aegon