Campaign: MarketGuard and the 2008 Budget
PR team: Lansons Communications
Timescale: Oct 2007 - March 2008
Last October, MarketGuard Insurance wanted to introduce insurance to protect homeowners' mortgages against interest-rate rises - a concept that could protect as many as 14 million homeowners. But at the time, HM Revenue & Customs insisted the concept would be tied into income tax payments, making it commercially unviable.
- To lobby Government to remove tax barriers to the sale of interest rate insurance.
Strategy and plan
Lansons identified the 2008 Budget as the key opportunity to secure change. The agency positioned the concept as a solution to the issue of affordable housing. Focus group research supplied the campaign with original consumer data, and a series of negotiations took place with housing stakeholders, industry bodies and advisers to Government. This dialogue led to a Downing Street conference involving the Number 10 Policy Unit and Department of Communities and Local Government advisers.
MEASUREMENT AND EVALUATION
An article and podcast interview in the FT led to a Treasury, FSA and HMRC summit ahead of the Budget. The topic was picked up across the business pages with MarketGuard billed as leading the way.
The 2008 Budget openly reversed the Government's earlier position, opening up a new £3.5bn general insurance market.