Insurtech experiences 251% increase in live entertainment sales in 12 months as more event venues and ticketing platforms add refund protection to their online experience 

NEW YORK, July 12, 2023 – Cover Genius, the insurtech for embedded protection, has partnered with AudienceView, a global leader in ticketing and e-commerce solutions for the live entertainment industry, to offer embedded Refund Protection to thousands of venues and event businesses worldwide. This partnership follows a period of significant growth for the insurtech as it has seen a 251% increase in global live entertainment sales since June 2022.  

Cover Genius is the chosen Refund Protection partner for some of the world’s largest ticketing platforms, events, venues and resellers including, AXS, FreshTix, Tessitura, SeatGeek, Outbox, Spektrix and more. Its award-winning distribution platform, XCover, offers a number of unique capabilities including AI-backed optimized pricing in real-time and insurance and non-insurance solutions that are adapted for different markets. With Audienceview, Cover Genius is the merchant of record for venues that don’t take payment upfront, and is the licensed or authorized agent where needed. 

Live ticketholders also benefit from a seamless customer journey via XCover.com. XCover.com handles customers’ needs – from the initial sale through to administration and refunds – resulting in an industry-leading post-claims NPS. Its award-winning service design has been shown to reduce support burden for partners.

“As consumers return to live events after years of uncertainty, data shows that they want relevant protection that offers them a sense of security and, more or less, differs from the “one-size-fits-all” approach that has traditionally been offered in the space,” said Angus McDonald, CEO and Co-founder of Cover Genius.. “By adding relevant protection, such as CFAR, to the checkout experience, customers and brands benefit.” 

A Refund Protection Survey, conducted by Momentive.ai and commissioned by Cover Genius, found  54% of global ticketholders would be highly likely to buy Refund Protection for tickets for common issues like illness and injury, a number that grows by 9% if the protection is unlimited. Respondents said they’d be willing to pay 123% more for this ‘Cancel for any Reason’ (CFAR) protection, with most of them nominating convenience as the primary reason. 

AudienceView’s partners now offer Refund Protection powered by XCover. 

About Cover Genius

Cover Genius is the global insurtech for embedded protection. Through XCover, its award-winning global distribution platform, it protects the customers of the world’s largest digital companies with seamless, end-to-end experiences. Licensed or authorized in over 60 countries and all 50 US States, the insurtech enables partners to embed and sell multiple lines of insurance and other types of protection, resulting in an industry-leading post-claims Net Promoter Score (NPS) and more than 30 million happy customers. 

For more information, visit covergenius.com.

About AudienceView

AudienceView believes in the power of live events and its purpose is to ignite that passion in people around the world. As the essential partner to get live events discovered, attended and remembered, we serve the entire industry, regardless of genre or size, and help our clients sell more tickets every single day. Through an unmatched set of solutions that includes innovative technology, popular consumer brands and a unique engagement model, we support 9,000+ venues, process over $3 billion in ticketing and fundraising transactions and sell over 110-million tickets each year. Learn more at audienceview.com. 

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