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Insurance companies’ ad campaigns typically focus on security and avoiding risk, but since 2014, small-business insurer Hiscox has taken a different approach, with a marketing strategy based on embracing risk. It’s tagline: “Encourage courage.”

Hiscox’s new campaign, developed with agency of record gyro and debuting with a full-page ad in The Wall Street Journal today, laments the state of small business in the U.S., asking, “Has America lost its courage?” and “When did the visionaries trying to improve the future get replaced by people just trying to improve profits for the next quarter?” The ad ends on a hopeful note, however: “There’s never been a more important time to be an independent thinker,” and “Has America lost its courage? We think not.”
“The

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