A finance rebrand that makes sense

In the 1600s someone invented insurance for the masses.

This improved things dramatically for many people, in particular witches.

Once people could be compensated for floods or fires, they stopped seeking scapegoats.

Royal Sun Alliance is the product of mergers, but it can trace its history back to 1710.

That sounds to me like a brilliant marketing tool. It could say to women customers:

Thanks to us, you are no longer at risk of being burnt alive.

Protecting Witches Since 1710.

You’re Welcome, Witches.

For reasons I didn’t get, RSA has lately rebranded as Intact Insurance.

Intact can make no claim to history, since it was invented three minutes ago.

Is this the latest in a long line of disastrous financial services rebrands of which Abrdn is only the most obvious?

The disemvowled new company cmpltly scrwd itslf. It caught irritable vowel syndrome.

Liverpool Victoria became LV=, which I still don’t understand.

Perhaps rebrands have to pass the Design Week pub test.

“Imagine two of your customers, or investors, or clients, or indeed employees, discussing your brand over a pint after a long day’s work.

Does it sound natural in conversation? Can it be easily corrupted into a rude word? Does it produce eye-rolling or giggling?”

Weight Watchers turned into WW then back again when people thought it was a reference to a World War. Which WW?

Both Aberdeen and Weightwatchers thought a rebrand was the way to regain momentum.

That doesn’t apply to RSA, which was bought by the Intact Financial Corporation in 2021, and wanted one name for a global company.

Chris Reid, the marketing chief, notes that in Ireland RSA got mistaken for the Road Safety Authority. The More Than brand didn’t work for the new owners. More than what?

He says: “We wanted to remap our future with a name that stood for something, rather than just being three letters. Intact means what it says – we protect you, we keep you intact.”

Isn’t the heritage lost though?

“People want service and financial stability. The heritage is less important, it is more like, what have you done for me lately?”

That actually makes sense.

Maybe some of these marketing folk know what they are doing.

Please send candidates for press release of the day to:

Simon.english@roxhillmedia.com