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."
