Abstract
AbstractMany firms in financial services opt for corporate branding in order to unify their activities and leverage a strong brand across business units. While this may be the case, some financial service organisations retain the approach of using a collection of brands within the organisation. RSA has opted to retain its existing brands while gaining market share in Ireland. This paper studies the approach that RSA has taken in its brand architecture. Through a literature review of branding and rebranding, along with a historical study of the RSA Company going back to its foundation, the author attempts to chart the direction of the company alongside industry changes, such as product distribution and also the introduction of other stakeholders to the marketplace. Unlike its insurance peers, RSA is one of the few insurers that operates a portfolio of brands that operate in different markets within the industry. While the company is well known as a large insurer in Ireland, it retains its existing brands i...
Highlights
Papasolomou and Vrontis (2006) defined a service in the marketing context “as a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything”
A company director of an Irish insurance brokerage firm, Richard Brophy has an academic interest in the retailing of financial services, aspects of marketing and regulation, and has written for various marketing and regulatory academic journals
While rebranding is considered a conventional process for a company that has been taken over or merged in the financial services sector, as demonstrated by AXA, Aviva, Allianz and Zurich, one insurer with a significant operation in Ireland has gone down a different route for its brand architecture
Summary
Papasolomou and Vrontis (2006) defined a service in the marketing context “as a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything”. While rebranding is considered a conventional process for a company that has been taken over or merged in the financial services sector, as demonstrated by AXA, Aviva, Allianz and Zurich, one insurer with a significant operation in Ireland has gone down a different route for its brand architecture. In order to perform this task, this paper uses a literature review of branding and rebranding papers applicable to the insurance industry, reviews the history of RSA itself and the environment in which it operates in terms of the distribution channels (traditional and emerging), alongside other factors incipient for insurance companies operating in Ireland.
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