Introducing Ticket Insurance – Earn More Revenue for Your Event!

TicketSignup is excited to announce a new ticket insurance offering that makes attending your events even more worry-free. Not only does this feature provide your attendees with peace of mind, but it also helps you increase revenue with a 20% premium revenue share. By offering ticket insurance, attendees can confidently plan to attend your event, knowing they have a safety net if plans change, while your event benefits from an additional revenue stream.

Why Offer Ticket Insurance?

Life happens, and sometimes plans change. Whether it’s an illness, an emergency, or unexpected travel disruptions, attendees occasionally find themselves unable to attend an event they were looking forward to. With ticket insurance, your attendees can be reimbursed for their ticket costs when covered reasons prevent them from attending.

This option doesn’t just benefit attendees—it benefits you, too. By offering ticket insurance, you:

  • Earn More Revenue: Your event receives 20% of the insurance premium revenue, providing an additional income stream.
  • Build Trust: Show your attendees you care about their experience and value their peace of mind.
  • Increase Conversions: Attendees are more likely to commit to a purchase when they know insurance is available.
  • Reduce Refund Requests: Since insurance provides an alternative for cancellations, organizers can streamline event operations without handling refund requests.

How It Works

TicketSignup has partnered with Protecht’s FanShield product. Ticket insurance is seamlessly integrated into TicketSignup’s purchase flow, making it easy for attendees to opt in during checkout. Here’s how it works:

  • Choose Insurance at Checkout: When purchasing tickets, attendees will see an option to add insurance to their order when your event enables Insurance. The cost is automatically calculated based on the ticket (and store items) price. (Note, this is an Opt In)
  • Receive Insurance Policy Notification: The purchaser will receive a confirmation email that includes all items covered by their insurance. Note that a policy is issued per ticket/store item, but the purchaser will receive a single policy order number and confirmation email. The email includes instructions for attendees to file a refund request. There is also a link to cancel their protection, as well as contact Protecht Fanshield’s customer support.
  • File a Claim if Needed: If an attendee can’t make it to the event for a covered reason, they can file a claim directly through Protecht’s site.
  • Get Reimbursed: Once approved, the attendee is reimbursed for their ticket cost. No refunds and no customer support for your event.

Covered Reasons for Reimbursement

Insurance covers a range of common reasons attendees might miss your event, including but not limited to:

  • Accident and Illness
  • Travel Interruptions
  • Family Emergencies
  • Layoffs
  • Jury Duty
  • Work Travel Conflict

Pricing

The price of Protecht FanShield ticket insurance is calculated per ticket plus processing fees. This is because a policy is issued per ticket. You can also enable Protecht for store items. In that case, insurance will be calculated per ticket plus processing fees AND per store item plus processing fees. The FanShield premium in the United States, including insurance processing fees is:

  • $2.99 per ticket/store item up to $24.99
  • $3.99 per ticket/store item between $25.00 to $61.38
  • 6.5% of the cart (comprised of tickets + store + fees) for anything above $61.38
  • Plus related taxes and fees by state

We’ll go through 3 scenarios to better explain how insurance pricing works so that you can determine if it makes sense for your event to offer. Assume that insurance is offered for all tickets and items covered in the below examples.

  1. An attendee purchases 2 $10 tickets and 1 $35 t-shirt. The cart is $55 + processing fees + sales tax. The insurance is $9.97 ($2.99 + $2.99 + $3.99).
  2. Someone buys 1 $50 ticket. The cart is $50 + processing fees + sales tax. The insurance is $3.99.
  3. Someone buys 2 concert passes for $100 each, and a store item (camping reservation) for $300. The cart is $500 + processing fees + sales tax. The insurance is ~$32.50 (it will go up slightly based on the cart fees and sales tax).

With TicketSignup’s insurance implementation, you can choose to enable Insurance by ticket type and by store item. As a result, you have ultimate flexibility to upsell insurance where it makes sense – for higher priced tickets and store items. For example, you can offer insurance for the $300 camping reservation store item, but not offer it for the $15 mug. Similarly, offer insurance for the $150 VIP Grandstand seating, but not the $10 general admission.

Revenue Share

TicketSignup has worked on a program with Protecht FanShield where we earn a lead generation fee for events that offer insurance and we share a part of the fee with the event. The part the event earns is equal to 20% of the insurance premiums generated by attendees that purchase insurance for the event.  At the minimum premium, this represents $0.60 per ticket. For a $3.99 policy, this is $.80 per ticket. The above example of $32.50 insurance would represent a $6.50 revenue share with the event. Revenue share payments are made after the event has completed.

How To Enable Insurance & Reporting

Activating ticket insurance for your event is simple. TicketSignup makes it easy to turn this feature on from your event dashboard by going to Financial >> Insurance >> Insurance Setup. You can select Insurance for the tickets and items that you want to give attendees the option to cover with FanShield. Click Save Settings once you have made your selections. Once enabled, attendees will automatically see the insurance option during checkout.

You can view, search, and export a report of all policies sold by navigating to Financial >> Insurance >> Insurance Reports.

Ready to Add Insurance to Your Event?

Insurance is just one more way TicketSignup helps you create a seamless and positive experience for your attendees while maximizing your event’s revenue potential. By offering ticket insurance, you’re providing a valuable service that enhances your event’s reputation and encourages more people to purchase tickets confidently.

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