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► Travel Insurance Online Industry Report - NZ SEO Reach 2015

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► Which New Zealand Travel Insurance providers are maximising their market share online?

Find out which travel insurance providers are taking the lead in organic search and how they’re doing it.

FIRST has investigated the organic search engine rankings for NZ consumer searches focused on travel insurance, utilising FIRST’s Ranking Based Reach (RBR) analysis framework. In addition, a consumer survey was carried out to discover what is most important for Kiwis wishing to purchase travel insurance.

► In this Travel Insurance Online Industry Report we discovered:

- In our consumer survey, it was revealed that nearly 6 out of 10 Kiwis apply online for a travel insurance, which shows the importance of being visible in the digital space and providing great online customer experience.
- Our survey revealed that Kiwis consider reputation and credibility as the most important factor when purchasing travel insurance, followed by a transparent policy and good price. Companies need to continually improve their trustworthiness among Kiwis, especially through online touch points.
- Currently, Southern Cross stands out in the search landscape followed by Tower and AA, capturing a big proportion of the demand thanks to prominent organic and paid search presence.
- Search results are broadly dispersed among a wide range of competitors. In the competitive and margin-driven travel insurance market, providers need to optimise the most cost effective marketing channel – search.
- Popular search phrases are missing from most sites and in most cases very little is being done with organic search. By improving their RBR score, they will be able to seize opportunities to boost online sales revenues.
- A considered digital strategy that integrates both organic and paid search should be a key customer acquisition and revenue driver for travel insurance providers.

FIRST uses its bespoke metric called RBR (Ranking Based Reach) to estimate how well each company is ranking in search engines. RBR provides a simple way to compare a website’s search engine rankings with its competitors. RBR is an estimate of the percentage of available search traffic a website will receive for a set of phrases – this gives the sites share of search or reach. It is weighted based on the popularity of each search phrase and the relative click through rate (CTR) of each ranking position.

Websites included in this travel insurance online industry report comparison:

* 1cover.co.nz
* aa.co.nz
* airnewzealand.co.nz
* ami.co.nz
* flightcentre.co.nz
* scti.co.nz
* state.co.nz
* statravel.co.nz
* tower.co.nz
* travelinsurancedirect.co.nz

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► Travel Insurance Online Industry Report - NZ SEO Reach 2015

  1. 1. Copyright © FIRST
  2. 2. Copyright © FIRST • Rankings Based Reach (RBR)* provides a simple way to compare a website’s search engine rankings with its competitors. • RBR is an estimate of the percentage of available search traffic a website will receive for a set of phrases – this gives the site’s share of search or reach. • It is weighted based on the popularity of each search phrase and the relative click through rate (CTR) of each ranking position. *Source: Rankings Based Reach (RBR) is a methodology developed by FIRST., http://www.firstdigital.co.nz Copyright © FIRST • Rankings Based Reach (RBR)* provides a simple way to compare a website’s search engine rankings with its competitors. • RBR is an estimate of the percentage of available search traffic a website will receive for a set of phrases – this gives the sites share of search or reach. • It is weighted based on the popularity of each search phrase and the relative click through rate (CTR) of each ranking position. *Source: Rankings Based Reach (RBR) is a methodology developed by FIRST
  3. 3. Copyright © FIRST The following New Zealand travel insurance sites were selected for Ranking Based Reach (RBR) organic search performance analysis. Sites 1cover.co.nz aa.co.nz airnewzealand.co.nz ami.co.nz flightcentre.co.nz scti.co.nz state.co.nz statravel.co.nz tower.co.nz travelinsurancedirect.co.nz
  4. 4. Copyright © FIRST In order to investigate which websites are leading in search FIRST researched frequently used travel insurance -related phrases. Search Phrase Local searches per month Search Phrase Local searches per month travel insurance 9900 travel insurance quote 50 travel insurance nz 6600 holiday insurance 50 travel insurance direct 590 one way travel insurance 50 travel insurance compare 480 travel health insurance 40 cheap travel insurance 480 annual travel insurance 30 best travel insurance nz 260 medical travel insurance 30 comprehensive travel insurance 210 student travel insurance 30 senior travel insurance 110 worldwide travel insurance 30 domestic travel insurance nz 110 online travel insurance 90 travel insurance reviews 70 international travel insurance 50 Total searches per month 19,260 Total searches per year 231,120 Source: Google Keyword Tool, New Zealand exact match, Apr 2015
  5. 5. Copyright © FIRST What the consumer sees: The top of the Google search results page for a search on ‘travel insurance’ 1Cover and Southern Cross (SCTI)are ranking in the top two positions for the paid search results for the term ‘travel insurance’. In the organic search results, majority of the analysed companies rank on Google’s first page. Despite ranking well for organic listings, Southern Cross is still investing heavily in paid advertising which allows them to dominate the first page with multiple listings Tower, Travel Insurance Direct and AA are also very prominent in the paid search results. In total there are 11 companies ranked for paid search. That represents the maximum number of paid search results for the first page. Given that, the travel insurance market is highly competitive. Paid search results Organic search results
  6. 6. Copyright © FIRST 0% 5% 10% 15% 20% 25% 30% 35% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 33% of users click on the top organic search result Almost 92% of organic traffic goes to the top 10 results Search engine position Proportionofclicks Source: Chitika, 2013 (Organic Search)
  7. 7. Copyright © FIRST 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% RankingsBasedReach Source of ranking data: Google New Zealand, www.google.co.nz, Apr 2015* includes all websites under the relevant domain name (e.g. including www.) MASSIVE OPPORTUNITY The RBR leader is Southern Cross with an RBR score of 59%. It is followed by Tower and AA with RBR scores of 40% and 33%, respectively. There is an opportunity for all travel insurance providers to compete by optimising for highly relevant and popular search phrases. By improving their RBR score, they will be able to seize opportunities to boost online sales revenues.
  8. 8. Copyright © FIRSTCopyright © FIRST Graph source: Relative total keyword performance on a normalised scale of 1 to 100, Google Trends, New Zealand, Apr 2015 The chart below illustrates interest in key search term ‘travel insurance nz’ in New Zealand over the last 5 years in the insurance specific category. The search term ‘travel insurance nz’ has continuously high search volume with peaks toward the middle of the year. This points directly to the need and significance of maximising search engine optimisation during high demand periods.
  9. 9. Copyright © FIRSTCopyright © FIRST Source: Relative total keyword performance on a normalised scale 1 to 100, Google Trends, New Zealand, Apr 2015 The chart illustrates the brand search terms for travel insurance providers in the insurance specific category. The trend data shows Southern Cross and State are leading in terms of online brand search. With nearly similar search volumes, Ami, Tower and AA are lagging behind its competitors. To combat being left behind, runner-up travel insurance providers need to drive consumer brand recognition via search, display, social and email remarketing campaigns.
  10. 10. Copyright © FIRST 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Yes No This representative survey was carried out by 3Di Research on the Great Sites platform June 2014 (n=1,889). Question 1: Have you ever applied for travel insurance? More than 80% of Kiwis have applied for travel insurance already. One out of five respondents mentioned that they have never applied for a travel insurance.
  11. 11. Copyright © FIRST 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% I don’t travel I take the risk of being uninsured Too expensive Insured through my Bank or Credit Card Company Do not cover my health conditions Buying process too difficult Question 2: Why did you never apply for travel insurance? This representative survey was carried out by 3Di Research on the Great Sites platform June 2014 (n=371). The main reason Kiwis never applied for travel insurance is because they did not travel. This is followed by a significant amount of Kiwis who mentioned that they are willing to take the risk when travelling. While other Kiwis find travel insurance too expensive.
  12. 12. Copyright © FIRST 0% 5% 10% 15% 20% 25% 30% 35% 40% Directly go to the website of a known insurance provider Call my known insurance provider Search for insurance information on Google Seek recommen- dations from friends or family Visit the physical branch of a known insurance provider Visit other insurance related websites (such as interest.co.nz) My Doctor Other (please specify) Question 3: Typically, where is the first place you go to find information or advice about travel insurance? This representative survey was carried out by 3Di Research on the Great Sites platform June 2014 (n=1,740). Most Kiwis go to the website of a known insurance provider to find information about travel insurance. A significant number of respondents mentioned that they would get information from their travel agent.
  13. 13. Copyright © FIRST 3.5 3.7 3.9 4.1 4.3 4.5 Reputation and credibility Transparent policy Price Convenience (ease of dealing, quick and prompt etc) Range of cover options Responsiveness of agent Discount packages (for more than one insurance at the same provider) Professional advice Question 4: What is most important to you when considering to purchase travel insurance? (Rank the following on a scale of 1-5, 1 being least important, 5 of great importance) This representative survey was carried out by 3Di Research on the Great Sites platform June 2014 (n=1,421). Kiwis perceive reputation and credibility as most important when considering travel insurance, followed by transparent policy and price. Professional advice is the least important factor for the respondents.
  14. 14. Copyright © FIRST 0% 10% 20% 30% 40% 50% 60% 70% Online Make a branch visit Via a call centre Other (please specify) Question 5: How do you usually apply for travel insurance? This representative survey was carried out by 3Di Research on the Great Sites platform June 2014 (n=1,409). Most Kiwis apply online for a travel insurance. Most respondents in the ‘Other’ section mentioned that they would contact their travel agent or they would receive cover when using their credit card to pay for their trips.
  15. 15. Copyright © FIRST 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% I am happy with the service Explain options clearer Be more concerned about the customer Staff should be better trained to give qualified advice Deal with sensitive information better Question 6: What would you like to see travel insurance providers do to improve their services? This representative survey was carried out by 3Di Research on the Great Sites platform June 2014 (n=1,751). 42% of all respondents are already happy with the service their travel insurance providers offer. According to respondents, another important aspect that travel insurance providers can work on is to improve the way they explain the options to the customers.
  16. 16. Copyright © FIRST • Currently, Southern Cross stands out in the search landscape followed by Tower and AA, capturing a big proportion of the demand thanks to prominent organic and paid search presence. • Our survey revealed that Kiwis consider reputation and credibility as the most important factor when purchasing travel insurance, followed by a transparent policy and good price. Companies need to continually improve their trustworthiness among Kiwis, especially through online touch points. • Nearly 6 out of 10 Kiwis apply online for a travel insurance, which shows the importance of being visible in the digital space and providing great online customer experience. • “2015 [is] set to be a year of adventure for Kiwis. Demand for international travel from New Zealand is on the up with more Kiwis than ever packing their bags and heading off overseas. Latest figures from Statistics New Zealand showed that more than 230,000 Kiwis set off on overseas trips in December 2014, the highest-ever figure for a December month1.” Thus, there is a need for travel insurance providers to create a strong online presence when customers search for the information they need in various online platforms. • Search results are broadly dispersed among a wide range of competitors. In the competitive and margin-driven travel insurance market, providers need to optimise the most cost effective marketing channel - search. • A considered digital strategy that integrates both organic and paid search should be a key customer acquisition and revenue driver for travel insurance providers. 1Source: 2015 set to be a year of adventure for Kiwis, Business.scoop.co.nz, Feb 2015
  17. 17. Copyright © FIRST FIRST is an award-winning team of smart Digital Marketers who have helped over 300 companies across 100 industries achieve success online. We help our clients to grow online sales, revenue and improve their ROI. Our expertise in digital marketing has been built on over 15 years experience in digital strategy, analytics, conversion, search marketing and digital campaigns. Get in touch to find out more… Phone +64 (9) 920 1740 Email info@firstdigital.co.nz Web http://www.firstdigital.co.nz http://www.linkedin.com/company/first-digital http://www.firstdigital.co.nz/blog http://twitter.com/first_nzGrant Osborne General Manager NZ
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► Which New Zealand Travel Insurance providers are maximising their market share online? Find out which travel insurance providers are taking the lead in organic search and how they’re doing it. FIRST has investigated the organic search engine rankings for NZ consumer searches focused on travel insurance, utilising FIRST’s Ranking Based Reach (RBR) analysis framework. In addition, a consumer survey was carried out to discover what is most important for Kiwis wishing to purchase travel insurance. ► In this Travel Insurance Online Industry Report we discovered: - In our consumer survey, it was revealed that nearly 6 out of 10 Kiwis apply online for a travel insurance, which shows the importance of being visible in the digital space and providing great online customer experience. - Our survey revealed that Kiwis consider reputation and credibility as the most important factor when purchasing travel insurance, followed by a transparent policy and good price. Companies need to continually improve their trustworthiness among Kiwis, especially through online touch points. - Currently, Southern Cross stands out in the search landscape followed by Tower and AA, capturing a big proportion of the demand thanks to prominent organic and paid search presence. - Search results are broadly dispersed among a wide range of competitors. In the competitive and margin-driven travel insurance market, providers need to optimise the most cost effective marketing channel – search. - Popular search phrases are missing from most sites and in most cases very little is being done with organic search. By improving their RBR score, they will be able to seize opportunities to boost online sales revenues. - A considered digital strategy that integrates both organic and paid search should be a key customer acquisition and revenue driver for travel insurance providers. FIRST uses its bespoke metric called RBR (Ranking Based Reach) to estimate how well each company is ranking in search engines. RBR provides a simple way to compare a website’s search engine rankings with its competitors. RBR is an estimate of the percentage of available search traffic a website will receive for a set of phrases – this gives the sites share of search or reach. It is weighted based on the popularity of each search phrase and the relative click through rate (CTR) of each ranking position. Websites included in this travel insurance online industry report comparison: * 1cover.co.nz * aa.co.nz * airnewzealand.co.nz * ami.co.nz * flightcentre.co.nz * scti.co.nz * state.co.nz * statravel.co.nz * tower.co.nz * travelinsurancedirect.co.nz

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