In a bid to reinforce its value proposition in the face of a growing price-conscious South African market, insurance giant OUTsurance recently launched its "Talking Wallets" campaign.
South African CGI animation studio, Luma, was appointed to design and bring to life three authentically South African wallet personalities, each taking the limelight in a 30-second television commercial spot. The campaign unfolds as the different consumer personae - depicted by the talking wallets - respond to different financial situations and the dynamics that local consumers regularly face.
Conceived by AIR Films director, Matthys Boshoff, the insurer's latest campaign began broadcasting on DStv, e.tv and SABC 1, 2 and 3 from January and will continue until later this year.
"Everyone has a wallet or purse. They represent an owner's financial state and are an expression of the owner's identity... Wallets can be fat and full, or just the opposite: hungry. So the idea was born to create photo-real wallets and purses that could talk, a character that that the viewer could relate to," says Boshoff.
"It's an assertive, simple and powerful money-saving call to action," says Peter Cronje, Head of Marketing at OUTsurance.
Like their American counterparts, South African insurers are becoming more ambitious in their marketing, investing considerable budget in brand advertising across a variety of disciplines, including above the line advertising, public relations, cause-related marketing, eventing and digital communications. In February 2011, America's combined annual insurance ad spend was purported to be at the R42bn mark.