2022 Winners & Shortlists

Why is this work relevant for Brand Experience & Activation?

No one enjoys thinking about death. ‘Last Words Insurance’ shifted the conversation by transforming the very experience of engaging with an insurance firm. It called upon people to look beyond the administrative complexities, step forward and engage with us on what they wanted to say to their loved ones when the time comes. Driving a 35% increase in opt-ins and a 67% increase in policy inquiries. Despite the painful topic, +85% of customers felt very positive about the initiative and sign ups keep pouring in.

Background

Life insurance offers financial protection and helps to de-risk our lives. However, in the Gulf countries, life insurance uptake is low, accounting for just 0.21% of GDP, versus an average of 4.5% in OECD countries. Each inhabitant of the GCC spends just over $60 per year on life insurance, compared to an average of about $1,800 annually in OECD countries. This situation puts everyone at a higher risk and boosting life insurance uptake would be a win-win situation. The challenge is this: there is a big deficit in awareness, in understanding and in incentive. Gulf societies often expect the government to step in and help when a family is faced with financial peril after a loved one’s loss. This collectivist mindset doesn’t connect with today’s realities and government’s limited action. How could NASCO change this dynamic and give a personal incentive for people to act now and take life insurance?

Describe the creative idea (20% of vote)

When people pass away unexpectedly, not only are their lives lost, but also their last words. This was most evident in the pandemic. A life insurance larger than life A policy that preserves what no other can: Hope I Gratitude I Love Last Words Insurance – a free of charge add-on to every life insurance policy which customers could choose to take or not.

Describe the strategy (20% of vote)

There is a lot left unsaid in our lives. “Thank-you” and “I love you”. Grateful messages of a life well-spent. Maybe even truths that we didn’t find the courage to face. The moment of death often becomes a time for important words to be uttered. Words that our loved ones will carry with them as we disappear from the world. But death is unexpected. As they say “You could be hit by a bus tomorrow” and then your loved ones would be left bereft of last words. Even when death is planned and comes in a bed surrounded by loved ones – those words often left for too late, when we lack the physical strength, and even the lung capacity, for long utterances. Could life insurance be about more than financial safety but ensure also that what needs to be said is said, no matter how death comes?

Describe the execution (30% of vote)

Last words matter. And as an insurance company, we wanted to use technology to help provide closure. Introducing “Last Words Insurance” – a free of charge add-on to every life insurance policy which customers could choose to take or not. Customers who opted in were invited to record their last words for their loved ones in a studio and these videos were safely stored in NASCO’s secure Cloud. For every video, an NFT was created, linked and owned by the policy beneficiary. These confidential NFTs are not visible to the public, and have no commercial value, only to be released when the policy is claimed. The NASCO sales team was able to have more profound and meaningful conversations with their customers – talking about the impact of death not just from a financial perspective but also an emotional one.

List the results (30% of vote)

No one enjoys thinking about one’s death. We need to consider palliative care, organ donation, funeral directives and life insurance policies. ‘Last Words Insurance’ shifted this conversation. It allowed people to look beyond the administrative and legal complexities, and think about what they wanted to say to the people they love. It created a deep shift in how insurance agents approached the sales conversation about life insurance, driving a 35% increase in opt-ins and a 67% increase in policy inquiries. Despite the painful topic, +85% of customers felt very positive about the initiative and sign ups keep pouring in. More than anything, the ‘Last Words Insurance’ will allow families to find closure, to heal from the loss with more peace thanks to both; the financial support of the life insurance and the important words shared from beyond the grave by their loved ones.