Join our daily newsletter At The Bell to receive exclusive market insights
- Marketing company Crowd Media (CM8) has teamed up with London-based travel insurance company Pluto
- Pluto has enlisted Crowd’s help to market its millennial-focussed travel insurance to European travellers between 18 and 34
- Pluto’s insurance boasts transparent pricing and no jargon
- The two companies have a 90-day period to work out the framework for the agreement
- Crowd Media shares closed grey today, worth 2.3 cents each in a $6.25 million market cap.
Millennial marketing specialist Crowd Media (CM8) has teamed up with London-based travel insurance company Pluto.
Pluto has signed on Crowd Media to build a commercial structure to help roll out its “millennial” travel insurance products in the European market. This type of insurance, which is a 2019 British Airways Traveltech winner, is designed to target travellers aged between 18 and 34.
Crowd Media boasts a speciality in marketing through social media and other millennial and Generation Z-focussed platforms. As such, the company said it is the perfect fit to help advertise Pluto’s insurance, which is branded as “hassle-free travel insurance”.
In Crowd’s announcement to the Aussie stock exchange today, the company already proved its eagerness to tout the benefits of Pluto’s offering.
According to Crowd, market research has found 38 per cent of travellers aged between 18 and 34 don’t buy travel insurance when going away, primarily because insurance is complicated and confusing, painful and slow, and they don’t trust insurers.
This is where Pluto is supposed to come in.
The company offers jargon-free insurance policies and transparent pricing designed for those who don’t know much about insurance and don’t want to be hustled. Insurance can be bought and claimed all through a mobile app and in less than 10 minutes.
On top of the quick insurance, Crowd boasts that Pluto gives customers instant access to airport lounges in the event of a flight delay as well as round-the-clock access to a virtual U.K. general practitioner in case they get sick overseas.
With today’s agreement, Crowd and Pluto will take a 90-day exclusivity period to set the framework for the digital marketing agreement.
Crowd Media shares closed grey today, worth 2.3 cents each in a $6.25 million market cap.
