Online Marketing Strategy for Travel Insurance case study of indian travel insurance market with statical figures on market size,competitor analysis,distribution Channel and how to go online Strategy and marketing plan
Online Marketing Strategy for Travel Insurance case study of indian travel insurance market with statical figures on market size,competitor analysis,distribution Channel and how to go online Strategy and marketing plan the slide contains comprehensive study on Travel insurance Market in india includng overall market size Offline and online and online Marketing plan to tap Online Travel insurance Market indindia
Similar to Online Marketing Strategy for Travel Insurance case study of indian travel insurance market with statical figures on market size,competitor analysis,distribution Channel and how to go online Strategy and marketing plan
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Online Marketing Strategy for Travel Insurance case study of indian travel insurance market with statical figures on market size,competitor analysis,distribution Channel and how to go online Strategy and marketing plan
1. Online Marketing plan for India.
Travel Insurance
By :Prashant chauhan Ph:9223544262 Email: prowebb@gmail.com
2. Online Marketing plan for India.
Travel Insurance
Topics Covered
Insignt On Travel Insurance Market(India and Wordwide)
Travel Insurance Indian Market trends
key players in indian Market
Types of travel policy
Distribution model (Offline Model & Online Model)
Scope for Digital Marketing in india.
The Digital Marketing Plan
3. Online Marketing plan for India.
Travel Insurance
Scope for Online Marketing in India
4. Online Marketing plan for India.
Travel Insurance
Travel insurance Market Snapshot
Travel Insurance market is estimated
@ 5.79 Billion UDS In 2010
growing @ 9.4 % annualy
India having 8.4 % Market share
Estimated @ 480 Million USD
Market Segmentation by country
The travel Insurance market in countries as Australia, Brazil, Canada, China, India, Japan, Russia,
India
South Africa, South Korea and the US is estimated at 5.79 Billion USD as of premiums collected in
form of travel insurance in year 2010 which is growing at 9.4 % annualy with india having 8.4 %
market share estimated @ 480 Million USD
Source :Finaccord and Internet sources
5. Online Marketing plan for India.
Travel Insurance
Travel Insurance Providers in India
Tata AIG General Insurance
Royal Sundaram General Insurance
ICICI lombard General Insurance
And other small players
Hdfc Ergo General Insurance
Indian Travel Insurance Market is dominated by mainy two major players .
AND
Tata AIG General Insurance ICICI lombard General Insurance
6. Online Marketing plan for India.
Travel Insurance
Types of travel insurance
Travel Insurance
Single Trip Annual Trip
+
Add on Riders
Travel Insurance Policy
Two Types of Travel Policy are sold by insurance providers
A)Single trip policy
B)Annual Trip policy
c) policy + Add on Riders
7. Online Marketing plan for India.
Travel Insurance
As per the data indian market is dominated by single Trip travel insurance With average Ticket value of 1500 Rs as
per indian market size @480 million USD Or 2400 Cr RS estimated 16000000 policy are sold each year with on an
average 43,835 policy sold per day.
Travel insurance average ticket value and number of policy sold each year
Avg ticket Value per policy= 1500 Rs Estimated Indian Market =480 Million USD or 2400 CR RS
Number of Policy sold each year= 160,00000 Number of policy sold per day = 43,835
(Estimate Derived Assuming Avg ticket value oer policy is 1500 rs and indian market is dominated by single
trip insurance policy)
8. Online Marketing plan for India.
Travel Insurance
Travel insurance sold through various channels
9. Online Marketing plan for India.
Travel Insurance
Tradational Brick and motar Distribution Model used by insurance providers to reach the Customer
Insurance Provider
Offline Model
Reseller/Channel Partner
Insurance Broker Travel Agents Exclusive Distribution
Customer
10. Online Marketing plan for India.
Travel Insurance
Some fndings about online Travel Insurance Market in India
Online Travel Insurance Market is Emerging Steadily since 2004
Travelers and are getting used to purchase travel insurance online
directly from the insurance provider due to convience of purchasing
online.
Online Insurance brokers,Online insurance comparsion engines,
Ticketing agents ,tour operators and travel related affinity service
providers are now offering travel insurance online through
API( Application programming Interface) based tieups with Insurance
providers.
11. Online Marketing plan for India.
Travel Insurance
Google Insight Trends on online travel Insurance Market India
Online Travel Insurance Market is emerging since 2004 ,trends shows growth from 2009
12. Online Marketing plan for India.
Travel Insurance
Keywords Used by people to search travel insurance
PER MONTH
13. Online Marketing plan for India.
Travel Insurance
Online Market size estimation for india
Number of Local searches for Travel Insurance per Month =37,68,623
Number of searches per day=1,25,620
Assumed Conversion on Searches( Conversion rate )= 1%
Number of Policy Sold Online per day = 1,25,620 X 1 % = 1256 Per day
Travel Policy Sold Per year = 1256 X 365 = 45,8440 per year
Avg Price per policy = 1500 Rs
Avg Estimated Online Market per day for Trave insurance =1500 X 1256 = 18,84,000 RS per day
Estaimated Online Markert for travel insurance in india per year = 18,84,000 X365=68.766 CR RS
Estimated Size of online Market Vs Offline Market (INDIA)
Market for Travel Insurace(india) =480 Million USD= 2400 Cr RS
Online Market = 13.72 Million USD OR 68.766 Cr RS
Online Market = 2.86 % of offline Indian Market
NOTE : the figures did not linclude Insurance sold through Online channel partner.
14. Online Marketing plan for India.
Travel Insurance
Conclusion On Online Travel insurance Market (India)
Indian Online market for travel insurance is a emerging Market with only 2. 86 % or
13.72 Million USD of offline market @480 Million USD which is growing @ 9.4 %
annualy
Online indian Market is Expected to grow exponetialy as consumers in india are
getting used to purchase various products and services online with advancement of
ecommerce.
Travel Insurance providers have started entering into indian Market to TAP the
growing market in nacent stage.
Entering the Online Market space in india at this stage will be highly profitable
in long run .
16. Online Marketing plan for India.
Travel Insurance
Objectives of Online Marketing Strategy
Branding
Generate Organic Internet
Creating Online Brand in
Traffic
Travel Insurance Space
(Free Traffic)
GOAL
Reduce CPA
(Cost Per )
to Develop Online insurance
10% of Ticket Value Distribution Channel Partners
Reducing Marketing Cost
17. Online Marketing plan for India.
Travel Insurance
Online Eco System for travel insurance
Selling Direct to Consumer
Insurance Provider
Selling via Channel Partner
Online reseller/Channel Partners
Online Broker
Online Tour Operator OnlineTicketing portal
Brand Ecommerce Eg:-Easypolicy.com
Eg:-Expedia.co.in Eg:-Makemytrip.com
Portal
Ecommerce B2c
Customer
18. Online Marketing plan for India.
Travel Insurance
The Online Marketing Mix
Pull :
Push: a)Search Engine
Optimization(SEO)
a)Banner Ads
b)Email Marketing b)Social Media Optimization
(SMO)
` c)SERPs
(Search Engine Result Pages )
d)PPC (Pay Click ads and
Perfomance Based Ad Network )
Tatical :
a)Affliate Marketing
b)Creating Multiple microsites with strategic domains
c)creating Online referals with websites having affinity content
d)API integration with Online comparison Engine ,Online insurance Brokers,
Online Travel portals ,Online Tour operators etc
19. Online Marketing plan for India.
Travel Insurance
Type of Strategy Type campaign Type of Traffic
Push Email Marketing Paid
Banner Ads (Branding only) Paid
Push Search Engine Optimization Organic
Social Media Optimization Organic
Pay per click Ads Paid
Tatical
Creating Affliates Pay per sale
Referal websites Pay for perfomance
20. Online Marketing plan for India.
Travel Insurance
Online Traffic Funnel
Internet traffic cloud
Online Marketing campaings Push,Pull,Tatical
21. Online Marketing plan for India.
Travel Insurance
The Online Marketing Process Map
Plan Mix of Marketing Set ROI Goals
Campaigns
Execute Pilot Campaign
Measure
Fine Tune and tweak
ROI Goals
for target
No
Yes
Scale Impliment
23. Online Marketing plan for India.
Travel Insurance
Search Engine Optimization (SEO) Process Map
SEO
Keyword reaserch +Compeation Analysis
Offsite Optimization
Onsite Optimization
Link Building Program
META TAG optimization
SEO URL optimization
Optimizing for TAIL Keywords
Conversion Rate Optimization
Optimizing for Major Keywords
30. Online Marketing plan for India.
Travel Insurance
Objectives of Social media Optimization(SMO)
Chosing Right Social media
Channel
For Travel Insurance
Creating Referal
Websites and Quaity
Backlinks
GOAL
Incressing SERPs
(Search Engine Result)
To generate Organic Traffic Engage With Customers
31. Online Marketing plan for India.
Travel Insurance
Social Media Road Map For travel Insurance
Creating
Travel Insrance
Online PR Wiki
Article Own Blog
Submission
Face BooK
Travel Insurance
APP
Social Media &
Online Forums Profile PagePage
&
Community
Youtube
Rss Feed Video
Syndication Free And
Classifieds Slide Share
Website
48. Online Marketing plan for India.
Travel Insurance
Online Eco System for travel insurance
Selling Direct to Consumer
TATICAL
Insurance Provider
Selling via Channel Partner
Online reseller/Channel Partners
Online Broker
Online Tour Operator OnlineTicketing portal
Brand Ecommerce Eg:-Easypolicy.com
Eg:-Expedia.co.in Eg:-Makemytrip.com
Portal
Ecommerce B2c
Customer
49. Online Marketing plan for India.
Travel Insurance
Making Pay per sale Commision Affliates
Insurance Comparsion
Affinity Content
Engine
Websites
Eg:-Insurancepandit.com
Eg:-NRIOL.com
Insurance Provider
Affliate Marketing
Online Insurance
Acquiring strategic Domains Broker
and Creating Microsites and Online Travel Portals
Eg:-travelinsuranceindia.com Eg: Easypolicy.com
Travelinsuranceonline.com Expedia.com
Etc travelchacha.com
etc
50. Online Marketing plan for India.
Travel Insurance
The winning Online Marketing Strategy
SEO
+ TATICAL
Online Marketing = SUCCESS
SEM
PPC
51. Online Marketing plan for India.
Travel Insurance
Projection Of Successful Online marketing
Marketing Cost Vs Revenue Vs Market Growth
Conclusion : It is assumed that online Marketing Cost should come close to zero
in long run.