When Covid-19 hit, UK’s #1 travel insurance company Staysure turned to Similarweb for insights to adapt their business strategy quickly. Using Similarweb’s industry, competitor, and customer analytics, Staysure identified new customer segments and developed a product in demand for the new global environment.

The Challenge: Survive the global pandemic in one of the hardest hit industries - travel.

At the onset of the pandemic, the U.K.’s Foreign, Commonwealth, and Development Office advised against travel, with few exceptions. The travel industry suddenly saw losses of approximately 70% year-over-year. For those willing to venture outside of the U.K., travel insurance became critical. But many still wondered: how can a company insure the uninsurable?

Thanks to the detailed site-level traffic data available, and the option to understand other sites people visit, the team is able to pull valuable insights for clients – such as traffic share for a client in a given market, or the growth of a sector over time, and how a client’s own growth compares.

Success: Pivot their digital marketing strategy and meet the demand for new products in a shifting industry

Using Similarweb insights, Staysure introduced a new set of product features that protected against Covid-19-related cancellations, medical expenses, and repatriation. This updated strategy helped keep Staysure in business as the nature of the pandemic changed over 2020. 

Staysure relies on Similarweb for real-time updates on their competitive landscape and the wider travel insurance industry. Similarweb reports are reviewed by senior stakeholders on a weekly basis to identify evolving threats and opportunities, directly informing their decision-making processes. With Similarweb, Staysure survived 2020 and is looking forward to a more prosperous 2021.

How they did it:

Industry Analysis: Staysure started by using Similarweb to assess what keywords people were searching for across the travel industry. 

They wanted to answer questions like: 

  • If people are traveling, how are they traveling? 
  • What is the industry breakdown across flights, cruises, and hotels?

By using Similarweb Dashboards, Staysure could set up views on specific website groups for general travel, airlines, hotels, cruises, airport parking, ferries and train businesses – allowing them to get a 360 degree view of the whole marketplace and understand when and where parts of the industry were showing green recovery shoots as they re-emerged from lockdown.

Customer Segmentation:

As of 2019, Staysure’s core customer base was aged 50+ and interested in insuring against any potential medical emergencies abroad. In 2020, the pandemic changed this.  

They found through Google Analytics that the average age of visitors were dropping for their website. A younger demographic was looking to travel and insure against Covid-19 risks.

They could see the market demographic shifted to a younger age group and they needed to react

Competitor Benchmarketing:

Next, Staysure wanted to deepen their understanding of the competitor landscape. 

They wanted to answer questions like: 

  • How are our insurance competitors responding to the ongoing travel restrictions?
  • How are their marketing strategies shifting? 
  • Are they capturing more or less market share?

Using Similarweb’s Marketing Channel analysis they tracked competitive marketing strategies and actively reviewed the traffic and engagement performance on those websites. Ultimately, they discovered that their tactics had little impact in driving online traffic. 

Staysure came to the conclusion that in order to survive they didn’t need to just change their marketing strategy; they needed to change their product offering.

"Similarweb has kept us in business. When times are challenging, it's all about understanding what the competition is doing, where we fit in the market, and what's going on in the market overall. Similarweb has helped us understand a market that is unpredictable in order to continue to operate."

James Robinson

Head of Digital Marketing, Staysure

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