1Cover Travel Insurance
1Cover is a leading direct travel insurer who has provided cover for over 1 million Australians. The competitive landscape is cluttered across general insurers, health insurers, banks, credit card providers, supermarkets, airlines, travel agents and other specialist travel insurers. The overseas traveler profile retains specific attributes and purchasing is close to departure. The major factor is size of the ‘in-market’ audience.
Develop a strategic media partnership generating affordable ongoing awareness that aids clear differentiation versus current and future competitors.
Around 20% (less than 2% per month) of Australians travel overseas in a year. They are disproportionately metro-focused, work full time, skew upmarket with a higher likelihood to be heavy digital and outdoor media consumers. In a very competitive category there was a tendency for some insurers to continually copy offline and digital strategies of competitors. Travel policies are high volume with low margin which impacts affordable media options.
Outdoor was identified as a likely media channel given:
1. Overseas Travelers have heavy outdoor media exposure,
2. It cost effectively covers major metro markets,
3. 1Cover’s colours are distinctive and the key message uncomplicated.
Customedia identified Taxi Backs as a potential media partner. At the time, taxi advertising was weak in the travel sector. Unlike retail, roadside and transit providers, taxis were not used by any travel insurance competitors and this provided an opportunity.
Taxis provided more cost effective airport coverage than airport-located signage which has high cost premiums. Taxis also allowed for specific depot targeting which reduced wastage in outer metro suburbs.
With the likelihood of competitors immediately following 1Cover onto Taxi advertising, a media partnership was created with a defence barrier; category exclusivity. While other outdoor providers offer limited exclusivity (during active bursts), 1Cover’s arrangement covered an entire 12 month period; even during 1Cover’s inactive periods.
Over the next four years 1Cover retained complete exclusivity across all markets in the travel insurance category. This media partnership has now evolved so that 1Cover’s Taxis are more like an ‘owned’ rather than a ‘paid’ channel. Travel Insurance competitors continually request access and while Non Stop Media (formerly ROVA) is restricted in terms of additional travel insurance advertisers, it is now widely used by many more advertisers in the broader travel category. It’s a hugely successful partnership which was identified, negotiated and continually optimised by Customedia. There is no other known exclusivity arrangement in place across the major outdoor media providers.