GREY DIRECT WINS CHIP ACCOUNT
By Adnews Staff
Grey Direct of Toronto has announced it has been awarded the CHIP Canadian Home Income Plan account. The account was awarded to Grey Direct following a pitch from three unnamed direct response agencies in Toronto. CHIP specializes in reverse mortgages, where homeowners over the age of 62 years can access the equity in their homes without having to sell their property. According to the plan, the estate of the homeowner repays the money to CHIP or, if the homeowner sells their home, the money is then repaid at that time. Grey Directs multi-media communications plans will include: television, radio, print, direct mail and inserts targeting CHIP's market audience. The account is worth an estimated $5 million in addition, the compensation for Grey is based on fees and a performance-incentive structure that is related to targets achieved. Grey Direct is the direct marketing arm of advertising agency Grey Canada.