Branding Work Could Be Just the Beginning
LOS ANGELES–Pacific Life Insurance Co. has launched a search for an agency to handle the creative portion of its estimated $5 million account.
Los Angeles consultancy Select Resources International is conducting the review. Several West Coast shops have received requests for proposals, which are due back to SRI by the end of this week. A list of contenders will be compiled by Oct. 23, and a decision is expected by the end of the year.
“The search is for creative only for our corporate image advertising,” said Milda Goodman, Pacific Life’s advertising and public relations director. “We think this is a good time for us to start a long-term relationship with an agency.”
The Newport Beach, Calif.-based life and health insurance provider has been using various agencies for project work and aired its first TV spots last year. But recent changes have encouraged the company to seek a single creative shop, Goodman said. It adopted a mutual holding company structure last year, changing its name from Pacific Mutual in the process, and wants to use new ads to raise consumer awareness about the name change and its products and services, Goodman said.
The winning agency will handle various creative duties, including print, broadcast and outdoor work. The first ads are expected to break in the first quarter of 1999. The assignment is for corporate branding, but Goodman said Pacific Life is keen to build a long-term relationship with an agency.
Media duties will remain with Mediaspot in Corona del Mar, Calif.
The Pacific Life group of companies manages more than $235 billion in assets, making it one of the largest financial institutions in the country. Its newly formed holding companies are Pacific LifeCorp. and Pacific Mutual Holding Co.
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