Sun Life Financial, Inc. | Company Profile, Marketing Contacts, Media Spend, Brands
Sun Life Financial, Inc. is a leading financial services organization, known primarily as a life insurance company. The company has operations, clients, and assets worldwide. Sun Life Financial's U.S. headquarters is in Wellesley Hills, MA.
|Main Telephone||(781) 237-6030|
Sun Life Financial, Inc. ContactsContacts (5/22)
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|Colm F.||Executive Vice President & Chief Financial Officer||ON|
|Paul P.||Senior Vice President & Chief Compliance Officer||ON|
|Dean C.||Chief Executive Officer||ON|
|Melissa K.||Executive Vice President & Chief Legal Officer||ON|
|Sun Life Financial, Inc.||******|
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INTERVIEW: Sun Life Financial reviewing creative, media
Insurer Sun Life Financial has begun an agency review and is seeking new ideas from creative and media firms, originally reported.
WinmoEdge confirmed this review with Tricia Conboy, director of advertising and digital marketing, who is based out of the Toronto-based company’s U.S. headquarters in Wellesley Hills, Mass.
She said Sun Life is initiating this review because the company is redirecting its 2012 business strategy to focus on the growth and expansion of two key businesses: employee benefits (insurance benefits obtained at work and paid for by the employer, or shared by the employer and employee) and voluntary benefits (insurance benefits received at work and paid fully by the employee.)
This new strategy direction is coming after Sun Life closed its domestic variable annuity and individual life products in the U.S. market to new business. Conboy stated that this decision was based on several key market factors, including historically low interest rates and new capital requirements that are double those of Sun Life’s American competitors since Sun Life is a Canadian corporation.
She added that the selected agency will work solely on the U.S. business, and that Sun Life is still in the process of narrowing down the list of agencies that it will ask to participate. The incumbent shop on this account is Interpublic Group of Cos.’ Richmond, Va.-based Martin Agency
“We are asking agencies to present an integrated solution that includes print, digital, social media, direct marketing, sponsorship activation and media strategy,” Conboy acknowledged.
Sun Life expects the review to be complete in mid-June, at which point the selected agency will begin working with the company immediately.
Conboy shared several ways in which agencies can stand out during this review: First, Sun Life is looking for a strong, strategic and flexible marketing partner with good B2B credentials; proven digital and direct marketing integration skills; and an in-depth understanding of its key targets.
“We also want an agency that can provide outstanding creative that stretches boundaries and delivers results,” she continued. “We think Sun Life has an opportunity to talk to brokers, HR professionals and business owners about group and voluntary benefits in a way that will truly stand out in the industry.”
During the past two years or so, Conboy said the bulk of Sun Life’s advertising dollars have been allocated to raising brand awareness and name recognition among financial advisors and end consumers through national advertising.
“The Martin Agency did a wonderful job helping us accomplish these goals through TV, print and digital channels,” she stated.
This year, Sun Life is shifting away from consumer-focused communications to more focused targeting efforts to reach brokers, small business owners and human resource decision makers.
“While we have done trade advertising around our group and voluntary solutions for years, we are planning to substantially expand these marketing efforts with the assistance of our new agency,” Conboy expressed. “Sun Life is getting ready to roll-out several new voluntary products – which we are designing based on customer insights – so we have a great story to tell in 2012 and beyond.”
Since Sun Life is still narrowing down the list of agencies that it would like to participate, there is still time for relevant firms to approach. Conboy said interested agencies should contact since the consultancy is helping Sun Life during this process.
Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of December 31, 2011, the Sun Life Financial group of companies had total assets under management of $466 billion.
Kantar Media reports that Sun Life allocated almost $18 million towards measured media in 2011. About $4.7 million was spent on display ads, about $3.7 million was spent on cable television ads and about $3.5 million was spent on magazine ads.
Sun Life Financial Inc.
225 King Street, West
Toronto, ON M5V 3C5
Sun Life Financial Inc.
One Sun Life Executive Park
Wellesley Hills, MA 02481
Director of Advertising & Digital Marketing
Senior Vice President & Head, U.S. Marketing & Strategy
Vice President, Brand Strategy & Development - U.S.
Head, External Communications – U.S.