3 ways travel insurers have embraced the new normal
As digital adoption surged during the pandemic, travel insurers increased their advertising spend with a focus on COVID-19 solutions.
Here are three ways travel insurers have adapted in order to embrace the new normal:
1. Direct mail activities varied as countries lifted border restrictions.
As many countries opened up their borders, travel insurers boosted their mailings in Q4 2021. U.S. acquisition mail volume was up by 1.6X in November 2021 and spiked again in March 2022. While Canada started to reopen its borders in August 2021, the insurance industry observed a reduced volume of travel offers and there were no direct mail activities in 2022.
2. Insurers included COVID-19 advisories and some also provided coverage
Though the ease of travel restrictions encouraged many to travel again, consumers had to deal with the varying quarantine measures in place in different countries. To help customers navigate, some insurers added testing requirements and country updates to their promotional materials. Brands such as Pacific Blue Cross also offered COVID-19 coverage to provide assurance and protection for travelers who might need to reschedule their trip due to an outbreak.
3. Paid social* has become the channel of choice for many travel insurers.
Paid Social was the highest spend category for 6 out of the top ten US marketing spenders and 5 out of the top 10 Canada spenders. With an increase in digital adoption observed in both countries, it is likely more insurers will utilize platforms like Facebook and Instagram to effectively engage with their audiences and raise brand awareness moving forward.
*Paid social includes paid Facebook and paid Instagram
For more information on how Comperemedia can help your brand navigate the new normal, click here.