With High St bank interest rates still pitifully low, some might say an insult, many people are putting some of their savings into classic cars, guitars, boats, Swiss watches, antiques, wine or art. Of course all these assets need insurance, whether stored in deposit box vaults, or at home inside a safe. Here’s some news from NFU Mutual, who are looking to build a stronger identity in the High Net Worth market;
The UK’s leading rural insurer is repositioning its brand in the market for high-value home and contents cover. NFU Mutual has tasked Dorset-based creative agency CHS with delivering a campaign for its specialist insurance range, Bespoke.
The campaign launches this month across a mix of outdoor, press, online display and social channels and is designed to evolve the insurer’s brand identity, look and feel, and tone of voice.
It continues a relationship between NFU Mutual and CHS going back to 2016 and involving strategic marketing support for both general insurance and farm-specific policies.
NFU Mutual’s Bespoke cover is aimed at those who are typically used to personalised services in wealth management and who require cover for high-value homes and treasured possessions such as prestige cars, antiques, jewellery, watches, fine art, yachts and additional UK or overseas properties.
Ella Cloake, Bespoke Marketing Consultant at NFU Mutual, said: “We’ve been insuring rural communities for more than a century, often across several family generations.
“This has allowed us to expertly nurture our approach to protecting our customers’ most valued assets, delivered with the local, personal service we’re known for.
“Styles of wealth are broadening with entrepreneurs and families emerging amongst the traditionally wealthy, who may have inherited family assets down the generations. Many of our customers have high-value possessions such as collections of cars, modern art, wine, musical instruments, and watches and jewellery, which can change in value over time, but also may benefit from specialist insurance features in the event of loss or damage.
“Consumers taking out insurance may not always have a professional valuation or realise the combined worth of their assets, meaning they may not see themselves as requiring specialist advice on protection, when in fact they do.
“Our experience tells us that a considerable number of people in this position risk being under-insured.”
Steve Keats, Managing Director at CHS, said: “The NFU Mutual Bespoke repositioning and campaign is all about evolving the brand to reflect a wider perception of the meaning of wealth in 2020.
“We’ve worked with NFU Mutual to create a more modern feel, bringing to life the elements of luxury assets that their customers identify with and enjoy.”
A key campaign message is summarised in the strapline: ‘Tailored cover right down to the finest detail’. Complementing the brand promotion is the offer of expert advice from NFU Mutual’s team of underwriters, claims handlers and specialist insurers.
These are backed by a national network of more than 650 tied agents operating from 310 local offices. The Bespoke campaign kicks off this month with out-of-home advertising at locations in the South East integrating with social, press and online display.
Founded in 1973, CHS employs more than 50 team members working across two offices in Christchurch, Dorset. As well as NFU Mutual, its client list includes major brands such as HSBC UK, B&Q, the insurer Allianz and the kitchenware brand, Lakeland.