Gigs are where the real money is within the music industry. From middle-aged vegan hipsters airing their red trousers at Glasto, to goth princesses making a pilgrimage to see Sixousie & The Banshees, the typical gig punter can easily spend over £200 on a night out. It’s a far cry from watching The Alarm at Parr Hall for £6 a head. Tickets, accommodation, train travel, time off work – the investment is huge, and it isn’t just emotional. So it makes sense that specialist insurers offer good value cover in case things go wrong and gigs are cancelled, or the fanboi can’t make it due to illness etc. Here’s some news from Cover Genius;
Global insurtech leader Cover Genius has today announced a partnership with premier global ticketing platform AXS, raising the bar on customer insurance offerings for their millions of UK customers; at venues such as The O2, The SSE Arena, Wembley and the multi date American Express presents British Summertime Festival in Hyde Park.
The AXS UK insurance offering will be powered by Cover Genius’ global insurance distribution platform, XCover, which leverages sophisticated analytics, personalised product recommendations and pricing capabilities, to enable partners to offer highly optimised personal and commercial insurance to their customers in any geographic market. The XCover platform is underpinned by a unique global underwriting framework and is available to partners via a single API integration.
AXS customers will have access to tailored in-path offerings and simple and easy-to-understand policy documents. They will also benefit from fast and fully digital claims processing, as well as instant payments of claims for maximum convenience.
Cover Genius’ technology engenders both a simple and easily navigable experience and the instant payment of approved claims, facilitating payments in 90+ currencies. Taking a customer-first approach to claims payments has enabled Cover Genius to deliver NPS scores of +65 compared to the industry average of -10 to +15.
Commercial Director Chris Lipscomb of AXS UK said:
“We at AXS are delighted to announce this new partnership with Cover Genius. Our number one priority is to provide a fan-friendly ticketing experience and Cover Genius’ insurance solution supports AXS’s goal in supporting the entire event lifecycle. Their solution is both simple to execute and easy to understand.
We believe Cover Genius’ technology will raise the bar on ticket insurance offerings for our UK customers and look forward to working closely to deliver value to our customers.”
Co-Founder and CEO of Cover Genius, Angus McDonald said:
“Cover Genius is dedicated to putting the customer at the centre of the insurance experience as demonstrated by our NPS of positive 65, and we’re thrilled to partner with AXS UK who clearly share our commitment to creating outstanding customer experiences. Our insurance policies protect the customers of the world’s largest online businesses, and we are happy to include AXS in our global network of partners who get to leverage our end-to-end insurance solution.
“Looking ahead, AXS will be able to leverage our truly global solution to pick and choose from the best insurance products, facilitating rapid future expansion into new markets and venues, or new cover types, such as travel protection for overseas events, from a single global integration.