According to data made available by the Broadcast Audience Research Council (BARC), insurance and personal health care sector advertising has grown by 26% during the last four weeks, in comparison to the pre-COVID-19 times.
The BARC report has revealed that advertisement volumes in seconds (average) for insurance companies in pre-COVID times (11 -31 January 2020) was 2,24,535. It dropped to 60,260 seconds between 14 March and 5 June 2020 but increased to 1,99,973 seconds during 11 July to 7 August 2020.
Another report by TAM Media Research said as people are getting cautious about preventive measures against COVID-19, advertisements by personal healthcare and insurance companies have seen a surge.
With people getting more cautious and looking at preventive measures, brands in these segments feel it is a good time to market ‘well-being’.
The TAM Media Research report said that from 1 April to 14 August, the personal health care sector advertising volume grew 5%. Of the total advertising during April-July, 70% of advertising volumes were during June and July 2020.
The general health insurance sector also witnessed a spike in advertising volumes in June and July, the report stated.
Mogae group founder and brand expert Mr Sandeep Goyal said health is a big concern right now and the fear of infection, fear of its consequences, and fear of its cost are driving pharmaceutical and insurance advertising.
During the period 1 April 2020 to 14 August 2020, advertisement volumes for the personal healthcare sector grew 5% and of the total volume of advertisements between April and July, 70% was during June-July. – Asia Insurance Review