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Travel Insurance: How People Search For Insurance
Travel Insurance: How People Search For Insurance
Connecting Brands Understanding search opportunities in the online travel insurance space An iCrossing white paper by Gregory Lyons
ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Contents
INTRODUCTION METHODOLOGY SUMMARY TRENDS IN THE TRAVEL INSURANCE MARKET THE WORLDS MOST DANGEROUS COUNTRIES TRAVEL INSURANCE: DONT FORGET THE BACKPACKERS ONLINE MARKET LEADERS: WHOS THE TRAVEL INSURANCE KING? TOP BRANDS: HOW VISIBLE ARE TRAVEL INSURANCE BRANDS? LINK EQUITY: WHO GETS THE MOST VOTES? DEMOGRAPHICS: ITS ALL ABOUT WOMEN LINGUISTICS: PEOPLE WANT IT CHEAP MOBILE: THE NEW FRONTIER SEASONALITY: WHEN SHOULD I LAUNCH THAT CAMPAIGN? ABOUT ICROSSING APPENDIX: COMPETITIVE ANALYSIS 3 4 5 7 13 16 19 29 32 35 41 46 49 52 55
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connecting BrAnds. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
introduction
There have been some major world events this year that have impacted our ability to travel, from of the eruption of the Icelandic volcano to the political unrest in Thailand. The Research & Insight team at iCrossing thought it would be interesting to investigate whether these events had an impact on the Travel Insurance category and take a look at the wider category as a whole. These kinds of events have meant that travellers interest in their travel insurance policy has increased as uncertainty around their trips has grown. Many passengers have been left stranded abroad forced to make their own way home at their own expense. This report covers the travel insurance sector and aims to identify the main categories within that space, who the top competitors are, the demographics of travel insurance, search linguistics, mobile search and any seasonal and event driven trends. Summer has traditionally been the peak season for travel insurance so it seemed the perfect time to take a look at the state of the travel insurance market.
connecting Brands. ConneCting BrAnds. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Methodology
Keyword, demographic and competitor data was ollected using a combination of external and proprietary tools. iCrossing analysts then analysed the data to identify key categories and insights. Seasonality and key events were analysed by the Research team to identify patterns within the travel insurance market. Semantic and syntactical analysis was conducted on the keyword data set to create a linguistic profile of the travel insurance market, providing an understanding of the language people use when they search. Search volumes were analysed to identify the key categories within the travel insurance sector as well as analysing volumes around specific keywords and keyword groups to identify popular linguistics and linguistic structures. Competitors were ranked on their performance in natural search, based on how they ranked over the entire keyword set and individual categories, factoring in weightings based on the importance of each keyword and how the competitor ranked in the search engines. The data was analysed for the month of May 2010 and seasonal data was taken for the months January December 2009. Natural search rankings were taken in June 2010 and may have changed by the time this report is published.
connecting Brands. ConneCting BrAnds. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
summary
Women are 12% more LikeLy to searCh for traveL insuranCe than men
p Searches for travel insurance have dropped in recent years, probably due to the global economic downturn. However natural disasters and political unrest have fuelled localised and temporary uplifts in the numbers of people searching for information about travel insurance p People in the UK are most often searching for travel insurance in relation to European destinations, with the most popular financial/ buying related qualifier being cheap
p There are several specific travel insurance niches (student, business, ski) where competition is less fierce, allowing smaller players to enter the market p High street names dominate when people are searching for branded travel insurance, however it is the web-only companies that dominate in the generic travel insurance space where ranking for head terms such as travel insurance or holiday insurance is key p Women are 12% more likely to search for
p The UK market is heavily dominated by generic travel insurance search terms, as consumers are unsure or unaware of which specific policies to go for. This opens up educational opportunities
travel insurance than men p 99.9% of search is happening on desktop computers as opposd to the mobile web (0.1%)
connecting Brands. ConneCting BrAnds. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
the uks outbound market feLL at the fastest rate on reCord Last year as businesses sLashed budGets and Leisure traveLLers opted for a stayCation
p The UKs outbound market fell at the fastest rate on record last year as businesses slashed budgets and leisure travellers opted for staycations(1). p The Office of National Statistics (ONS) showed that the number of UK visits abroad fell 15% in 2009 compared to 2008 the largest slump since records began in the 1970s. p The corporate market has been particularly hard hit, falling almost a quarter. p The unpackaging DIY holiday trend, led by the Brits, is apparently how the world will shop for holidays in future. Responding to this demand, a rash of new travel comparison websites have appeared to help build dynamic packages, and offer a welcome degree of consumer protection. p Consumers are trading-up despite the recession as the humble UK B&B goes boutique and pub restaurants have chic room add-ons. p The UKs inbound market also suffered, albeit to a lesser degree, with international visitor numbers down 6.3% to 29.9m. Business trips to the UK fell by 20%, however revenue from visits by overseas residents rose to 16.6bn from 16.3bn in the previous year.
p According to the ONS, those travelling overseas are going for longer, with the average stay rising to 10.5 nights in 2009, from 9.9 nights two years earlier. p Although the UK economy is slowly recovering from the recession in 2010, the travel industry maintains a cautious outlook, particularly given the disruption earlier this year from the volcanic ash cloud and strikes by British Airways cabin crew. p According to a recent report by Tourism Intelligence (tourism-intelligence.com), price-savvy Brits are leading the world in seeking the most cost-effective holidays. p One of the dominant trends in the UK travel insurance market over the last five years has been the shift towards more annual policy sales as opposed to single trip policies. (*)A staycation (also spelled stay-cation, stacation, or staykation) is a neologism for a period of time in which an individual or family stays at home and relaxes at home or takes day trips from their home to area attractions.
ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
trends in the travel insurance The number of people searching for travel insurance has fallen in recent years. The recession and corresponding tightening of belts has meant that people are less likely to buy travel insurance than they were 2 years ago. But despite the recession, a recent poll showed eight out of 10 of those made redundant were planning to travel and do it in style hotels not hostels and short-hop planes not long-haul buses.
ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
8 out of 10 peopLe made redundant stiLL pLan on takinG a hoLiday and to do it in styLe
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
iceland volcano
travel insurance
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
May 22nd Thailand unravelling more news stories break about the civil unrest Jan Feb Mar Apr May
2010 2009 2008 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
there are more searChes for european & ameriCan traveL insuranCe than for the rest of the WorLd
LOWER
HIGHER
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Insurance is generally taken out to cover risk. Given this, we though it interesting to take a look at whether search volumes are higher for countries deemed riskier than average. We looked at several data sources on the worlds most dangerous countries and then looked at the number of UK searchers looking for travel insurance for that country. The top five are shown overleaf.
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
south afriCa is the most popuLar of the danGerous Countries, partiCuLarLy this year as tourists fLoCked to the WorLd Cup
Although these countries are dangerous countries to visit and therefore you might imagine buying insurance would be a top priority, there is not a lot of interest in travel insurance for them.
350
170
73
73 58
South Africa
Brazil
Russia
Sri Lanka
Pakistan
South Africa tops the list as this year the World Cup was hosted there and people would have been travelling from the UK to South Africa in greater numbers than usual.
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Segmenting the market is important in order to better understand and target new potential customers. With that in mind, we have broken down the travel insurance search space overleaf.
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
This tree map shows the relative popularity of each category within the travel insurance market. Generic searches for travel insurance makes up approximately 75% of searches within the sector, with generic holiday insurance searches in second place. This implies that the majority of people dont know exactly what type of insurance they are looking for,or that they dont know what is available to them.
This presents an opportunity to educate and inform travellers. The largest niche group of travellers within the travel insurance space was backpackers travel insurance with over 30,000 UK searches per month. If you include student and gap year travel insurance searches that number rises to just under 50,000 searches a month.
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Understanding where you are placed in your market and who your competition are is an important factor to success. By knowing your competition you can learn from them, observe what tactics they are using and ultimately, outperform them.
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Top 5 Keywords
Rest of keywords
moneysupermarket.com (83,868)
comparethemarket.com (24,473)
insureandgo.com (23,612)
cheaptravelinsurance.com (19,587)
travelinsurance.com (19,501)
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
baCkpaCkers traveL insuranCe is the LarGest of the speCiaList CateGories With over 30,000 searChes a month
insureandgo (4,000)
travelinsurance.co.uk (2,671)
endsleigh.co.uk (1,180)
thebackpacker.net (1,157)
duinsure.com (1,106)
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
ski traveL insuranCe is another popuLar CateGory With just under 30,000 uk searChes a month
rance.essentialtravel.co.uk (3,190)
travelinsurance.co.uk (2,241)
ski-insurance.co.uk (1,928)
insureandgo.com (1,272)
cheaptravelinsurance.com (777)
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
snoWboard traveL insuranCe is not as popuLar as ski traveL insuranCe, With 10 times feWer searChes
snowcard.co.uk (284)
boardsure.com (178)
travelinsurance.co.uk (162)
insureandgo.com (136)
snowinsure.com (62)
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
moneysupermarket.com (5,142)
insurance.essentialtravel.co.uk (1,872)
insureandgo.com (1,019)
columbusdirect.com (713)
morethan.com (661)
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
this is the first CateGory Where a hiGh street brand has featured in the top five.
multitrip.com (3,863)
halifax.co.uk (686)
endsleigh.co.uk (623)
moneysupermarket.com (434)
direct-travel.co.uk (378)
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
one of the smaLLer CateGories, it presents an opportunity for speCiaList businesses to enter the spaCe
insureandgo.com (2,502)
columbusdirect.com (1,095)
travelinsurance.co.uk (709)
morethan.com (305)
aatravelinsurance.com (303)
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
statravel.co.uk (1,906)
endsleigh.co.uk (603)
cover4students.com (359)
etravelinsurance.co.uk (219)
insureandgo.com (189)
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Off-line messaging and brand marketing can drive online traffic. Search volumes for generic terms such as travel insurance are approximately 10 times higher than branded travel insurance search.
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
The graph below shows UK monthly search volumes or travel insurance searches that include brand terms. It is interesting to see that high street brands are dominating, while internet only brands do not have as strong a presence.
This highlights the importance of brand affinity and how off-line messaging can translate into online success.
45,000 40,000 35,000 30,000 25,000 UK Monthly Search Volumes 20,000 15,000 10,000 5,000 0 Post office Tesco Direct line Saga Virgin AXA Endsleigh Sainsburys Halifax STA Travel
While sites such as the Post Office and Tesco may not be as successful as Money Supermarket and Compare the Market when it comes to non-brand travel insurance searches, with respect to branded searches Money Supermarket and Compare the Market have very little brand presence in the travel insurance space.
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
In the online natural search space inbound links to a site are like votes of confidence in the eyes of search engines, in a nutshell, the more high quality links a site has pointing at it the better that site will rank in search results.
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
money supermarket Comes out top With over 2.6 miLLion Links
The network map below shows a snapshot of the online travel insurance market with some of the bigger sites highlighted and the total number of backlinks to the site shown for each site. In the map below the small blue circles represent websites and the lines between them links between sites.
You can see that the main players have hundreds of thousands if not millions of sites pointing at them. In the map below we can see that Money Supermarket comes out top with over 2.6 million links, which correlates to the rankings and competitive landscape information we saw before.
We can use this information to gauge competitiveness, looking at the networks sites are part of and where your customers are, where conversations are likely happening and which websites are potentially worth targeting as part of an outreach campaign.
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Understanding the demographic makeup of your audience is important in order to target content and online messaging. Each travel insurance category will have its own demographic with some forms of insurance more popular with young audiences and some with an older audience.
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
44%
56%
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
35% 30% 25% 20% 15% 10% 05% 0% 18-24 25-34 35-49 50-64 65+
39%
61%
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
as With previous CateGories it is the Women that Lead the Way in ski traveL insuranCe.
35% 30% 25% 20% 15% 10% 05% 0% 18-24 25-34 35-49 50-64 65+
43%
57%
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
41%
59%
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Understanding the language people use when they search is important when looking to rank well. By matching up the language on your site with the language people use when they search, you are more likely to rank for those queries.
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
The next two graphs look at some of the linguistics used by searchers in the UK when looking for travel insurance.
You can see in the graph below that people are interested in finding cheap travel insurance, while the phrase low cost is not as popular. In the graph below the numbers down the left hand side represent the number of UK monthly searches.
120,000
100,000
80,000
UK Monthly Search Volumes
60,000
40,000
20,000
0 cheap cheapest quote quotes buy cheaper low cost discount free
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Below we can see that Over 65 travel insurance is the most popular of the age-related searches and that singular searches (Over 65, Over 70 ,etc) are more common than their plural equivalents (Over 65s, Over 70s).
18,000 16,000 14,000 12,000 UK Monthly Search Volumes 10,000 8,000 6,000 4,000 2,000 0 Over 65 Over 70 Over 75 Over 80 Over 65s Over 70s Over 60
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
LookinG at the Word CLoud We Can see that insuranCe types are popuLar quaLifiers
The word cloud below shows a visual representation of the types of words people use when searching for travel insurance. The larger the word the more often it is used. For the purpose of this visualisation the words travel, holiday and insurance were removed.
Looking at the word cloud we can see that insurance types are popular qualifiers (annual, single, ski etc) as well as financial qualifiers (cheap, cheapest), people are also looking to find the best deal, searching using phrases such as comparison and reviews.
comparison cheap trip compare reviews cheaper ski single online gap quotes multi winter
annual
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Mobile usage and mobile search is a rapidly growing market, there are now over 15 million people in the UK 1 using the mobile web . Mobile is big but how relevant is it in the insurance market?
1 Econsultancy Mobile Statistics Compendium April 2010
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Travel insurance searches are still predominantly conducted on the desktop with only 0.1% of searches done using a mobile phone. The graph below shows mobile search phrases along with associated monthly search volumes for the UK.
800 700 600 500 UK Monthly Search Volumes 400 300 200 100 0 travel insurance cheap travel insurance
Desktop search
Se ar ch D es kt op
99.9%
Mobile search
ar ch
0.1%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
holiday insurance
ob
ile
Se
travel insurance uk
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Having an understanding of seasonal trends can help you plan activity. Knowing what time of year people start thinking about travel insurance will let you plan marketing campaigns, content plans and help direct off-line activity.
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
Each sub-category of travel insurance has its own seasonal pattern and we looked at a couple of examples below. The heatmap shows the seasonality for three different areas of travel insurance, the darker the colour the more searches there are in that month.
Keywords
Travel insurance
Jan
Feb
Mar
Apr
Mar
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Ski insurance
You can see that for generic travel insurance the most popular months for searches are in the summer months. What is interesting is that people are searching and buying travel insurance around the same time as their holidays and are not planning ahead with their insurance purchase. The key time of the year for ski insurance, unsurprisingly are the winter months of December to March, with the number of searches building up in November. Interest in business travel insurance remains fairly constant throughout the year, including the summer months; which is interesting as you might expect searches in this area to drop in the summer months.
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About iCrossing
Connecting Brands Understanding search opportunities in the online travel insurance space
ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
About icrossing
iCrossing UK is a digital marketing agency that specialises in search and social media. We design and build search and social media strategies for some of the worlds biggest brands, including The Coca-Cola Company, Toyota, Virgin, Bank of America, and TK MAXX. iCrossing UK is part of iCrossing, one of the worlds largest, digital marketing agencies, which employs 600 staff in 12 offices around the globe, including 100 staff based at UK offices in London and Brighton. iCrossing has won numerous accolades, including the number one-ranked agency for both paid and natural search in Forrester Researchs 2009 Wave report of US search marketing agencies, OMMAs Search Agency of the Year, Best Use of Search at the Revolution Awards and a finalist for Revolutions Agency of the Year award. We are also the only agency with two Forrester social-media case studies to its name. iCrossing is a unit of Hearst Corporation, one of the worlds largest diversified media companies.
For more information please visit www.icrossing.co.uk or contact us at results@icrossing.co.uk London 2nd floor 22 Chapter Street London SW1P 4NP Tel: +44(0)20 7821 2300 Fax: +44 (0)20 7828 2866 Brighton Moore House 13 Black Lion Street Brighton United Kingdom BN1 1ND Tel: +44 (0)1273 828100 Fax: +44 (0)1273 828101
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ConneCting Brands. UnderstAnding seArch opportUnities in the online trAvel insUrAnce spAce
The list overleaf details the top websites in the Travel Insurance category, listed in order of Natural Search presence. The weight is a score calculated using iCrossings proprietary Search Visibility Index tool which takes into consideration site ranking, positional click through rates and search volumes to generate an overall picture of how a site is currently performing.
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