In a stunt not a million miles away from the KLF's infamous million pound burn-off (though far less aggressive), the online life insurance provider Beagle Street let loose 500 paper dogs in London yesterday (March 25), each made with £10 notes. A team of origami experts spent over 125 hours folding the 500 tenners into quite snazzy looking dogs, with the insurer aiming to literally put money back into the pockets of the people, and remind them that they can put even more money back into their pockets by investing in one of their cheaper life insurance policies.
Online life insurance provider Beagle Street let loose 500 paper dogs in London yesterday (March 25), each made with £10 notes
The pound dogs (Beagle's, naturally) were distributed at random throughout the streets of London to be “Rescued” by passers-by, in a stung that aims to bring attention to recent research which has revealed the average person overpays £109 per year on their life insurance premium, adding up to over £3,000 in 30 years! The research also found that 87% of people are put off getting life insurance because they see it as too expensive and 76% believe providers are not completely transparent with what they're offering. The notes were hidden in areas including Kensington, Chelsea, Shepherd’s Bush, Wembley, Paddington, Chiswick, Harrow, Hammersmith, Hounslow, Fulham, Ealing and Uxbridge.
Beagle Street Release The Pounds
Beagle Street managing director Matthew Gledhill, said that he hopes their £10 note Beagles “Will put a smile on people’s faces and pounds back into their pockets.” He believes that “The life insurance industry has been slow to adapt to the online revolution, but just as companies have used the Internet to slash the cost of services from air travel to accommodation, Beagle Street is using technology to remove unnecessary costs from life insurance.” As an example, he explains how Beagle Street has “Eliminated middlemen, medicals and meetings, which has meant passing on savings to customers who pay 30% cheaper premiums on average.”
The pound dogs (Beagle's, naturally) were distributed at random throughout the streets of London to be “Rescued” by passers-by
Of course, life insurance premiums will vary according to the provider, with some customers paying up to 67% more than others, despite receiving the same cover. For example, the research showed that a 30-year-old, non-smoker with 30-year level term life insurance worth £100,000 can pay between £9.23 and £5.35 per month depending on the provider. This disparity is something the stunt aims to draw attention to in a fun and accessible way. For those that missed out yesterday, it's also set to be repeated in the coming weeks in other cities across the UK. So keep your eyes peeled next time you're out and about on your local high street and use the hashtag #ReleaseThePounds to stay on top of the campaign as it develops.
