Havas Media has emerged as the agency on record (AOR) for Policybazaar’s media business following a competitive pitch process, according to multiple people familiar with the development.
The mandate is estimated to be worth upwards of Rs 300 crore, according to industry sources, making it one of the larger media account movements in the insurance and fintech category this year.
The appointment marks the end of Policybazaar’s long association with WPP Media, which has handled the company’s media business since 2011. The new mandate is understood to cover integrated media planning and buying for both Policybazaar and Paisabazaar, PB Fintech’s two flagship consumer brands.
The review, which began earlier this year, attracted interest from several leading media agency networks. Policybazaar and Havas had not responded to queries at the time of publishing.
The win comes at a strong moment for Havas in India as the network continues strengthening its media portfolio, and against the backdrop of solid business momentum for PB Fintech. In its latest quarterly results, the company reported a 92% year-on-year rise in profit after tax to Rs 163 crore, with operating revenue up 40% to Rs 1,888 crore, driven by 41% growth in insurance premiums.
