ASB shows you your disappointing substitute in bid to flog life insurance to under-insured Kiwis

  • Advertising
  • February 26, 2015
  • Damien Venuto
ASB shows you your disappointing substitute in bid to flog life insurance to under-insured Kiwis

ASB and Saatchi & Saatchi NZ have previously shown their prowess for Facebook campaigns through the hugely successful 'Like Loan' iniative, and the pair have now returned platform. But rather than focusing on home loans, the latest campaign aims to convince Kiwis to take up life insurance.

The new campaign takes the form of a survey in a series of questions that aim to determine if you're replaceable. Apparently, this StopPress writer's replacement is a ballroom-dancing, karaoke-singing political wannabe.        


Since the replacement proffered up by the quiz might not quite measure up to the high esteem quiz-takers have of themselves, the point the campaign makes is that you aren't replaceable (that being said, Jacob does have a beard capable of driving envy into the heart of any man).

A spokesperson from ASB said that the new campaign is a "bit of a departure from the traditional doom-and-gloom focus of life insurance advertisements" and aims to remind Kiwis of the importance taking out a life insurance policy. 

Upon following the 'find out more' link, the Facebook user is forwarded to the ASB life insurance website, which features additional information on the insurance packages offered by the bank.

The website leads with the question, 'You have insurance for your stuff, but what about yourself?' and this alludes to a Massey University study, which found that while Kiwis often took out insurance for their cars, home and contents, there was a significant problem of under-insurance when it comes to life insurance.                

"We tend to recognise the importance of getting insurance for our cars and houses, but don’t think about insuring what’s often our biggest asset—our salary—with income-protection insurance," says the bank's spokesperson.

Although the study was originally conducted in 2011, a follow-up in 2013, which was commissioned by the Financial Services Council, determined that this issue was still a significant problem in New Zealand. This latter study found that Kiwis were under-insured by approximately $650 billion, with life insurance alone accounting for $195.6 billion of this amount. 

The research also underlined the importance of assessing levels of insurance cover, concluding that of the 56 percent with life insurance more than half had inadequate life insurance cover (less than 80 per cent of ideal life insurance) and more than 40 per cent were severely under-insured (less than 60 per cent of ideal life insurance).  

“This means that levels of life cover are often poorly chosen with little relationship between ideal cover and actual cover. This often included over-insurance of the life of the secondary income earner,” said Dr Michael Naylor from Massey’s School of Economics and Finance at the time. “Families need to review their cover levels regularly and to be aware that while ACC provide disability cover for accidents it does not provide cover for illness, which is statistically more likely.”

Further to the topic of income insurance, the ASB website also features a short video that provides accentuates the importance of life and income insurance to families who are switching to a single income.    

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Vice and Sky call on Kiwis to leave a voicemail

  • Advertising
  • October 21, 2016
  • StopPress Team
Vice and Sky call on Kiwis to leave a voicemail

Global youth media company Vice is set to expand its sub-brand Viceland in the local market in partnership with Sky. And in an effort to engage with audiences, it's inviting Kiwis to call in and say anything that pops into their minds.

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