Fast Cover provides simple and easy to understand, low-cost travel insurance. They are a challenger brand within a traditional industry dominated by giants. They are constantly innovating and looking for efficiencies in order to outmaneuver larger brands. Fast Cover engaged One Egg to improve performance in the paid acquisition channel and prepare the account for exponential growth.
Travel insurance is an industry dominated by multi billion dollar insurance companies that have deep pockets. These competitors can afford to sustain heavy losses in order to cut out competition. We experienced this within ad platforms where we had to bid head to head in order to gain exposure. We needed to come up with creative solutions in order to outmaneuver these competitors
Growth presented the greatest opportunity as well as challenge. While the market was large, it was competitive and expensive. The challenge was to grow within the most profitable segments where claims are manageable and other competitors have overlooked.
COO, Fast Cover Travel Insurance
Google Ads presented the most direct path to growth for Fast Cover. This platform allowed us to bid on high intent keywords that are low down the funnel. We used our greatest challenge to our advantage in this respect. While our competitors were large, they were also less agile than we were. We were able to redefine our products and carve out markets that were more profitable rather than going up against large competitors head to head. We were able to uncover keyword segments that were overlooked and presented significant opportunities for us. Our focus for the account was always on growth. From the get go we utilised tactics that allowed us to scale such as the GDN. The strategy was set up to continually deliver new prospects at the top of the funnel and drive down acquisition into bottom of funnel tactics.
With Google Shopping being off limits we were able to utilise other solutions such as recrafting insurance into product carousels and advertising them on facebook shopping. We were able to achieve strong ROAS though dynamic remarketing products. A key aspect of our success was combining multiple platforms together, such as GDN, Google Search, Facebook Ads + other content networks to ensure that prospects were receiving multiple advertising touch points. In this way we were able to mitigate initial cost per click with cheaper cpc’s further down the funnel. This came down to implementing attribution models which aligned with our customer journey’s.
Over the years that we worked on the account and continue to do so we have seen strong success in both our ROAS as well as account growth. We’ve seen increases in revenue of over 50% year on year and account growth of over 10% annually.