Dei'ah veDibur - Information & Insight

A Window into the Chareidi World

29 Kiselv 5767 - December 20, 2006 | Mordecai Plaut, director Published Weekly










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Yashir Insurance Aims Advertising at Chareidi Sector

by Yated Ne'eman Staff

Yashir is about to become the first insurance company to aim advertising at the chareidi and religious sector. The company is launching a campaign for a savings plan for children. The ads will run for 6-8 weeks at a cost of $50,000. In recent years the chareidi sector has become more attractive to many companies as they discover the commercial potential and decide to market in a way tailored to the chareidi consumer.

Yashir's entry represents a breakthrough in the insurance industry since it is the first to operate in the sector through direct advertising rather than through agents. Yashir was Israel's first company to be set up without agents and its success changed the country's insurance market, especially in the area of vehicle insurance. One year ago the company opened the Yashir Investment House and its only competitor in the market is AIG, an international direct insurance company.

A number of insurance companies are active in the chareidi sector, like Migdal, which entered the sector one year ago primarily through image-building activities. Yashir is focusing on specific activity after gaining a favorable impression of the potential of the chareidi sector.

The company hired the Migzarim advertising firm, which presented Yashir with impressive figures on the sector's approach to savings for the next generation. "Our figures show that the chareidi sector invests for their children more than any other sector, primarily in solid savings plans. It is prepared to scrimp on food and clothing to help their children get a good start," says Migzarim Vice President Effi Shakedi. "The average savings per child comes to NIS 400 per month and it's very common to open a savings plan for every child."

Describing the attributes of Yashir's savings plan, Shakedi said, "The most significant advantage is the large yield compared to other plans, and the risk protection. If chas vecholiloh one of the parents cannot continue to save money the plan continues until the children reach the age of 18. The insurance market is definitely about to heat up following the entry of another company into the field in a more massive, dynamic and focused way."


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