Redemption Insurance
Redemption-based promotions such as coupons, rebates or instant wins are popular ways for marketers to attract consumers, build brands and protect consumer loyalty. But what if you attract more than you originally planned? Are you prepared to absorb the costs if more people use the offer than what you expected?
Managing the financial liability for redemption-based offers is, quite simply, risky business. Marketers can only “guesstimate” what they believe redemption will be, and risk exceeding their planned budgets if the offer redeems beyond expectation. iC Group’s specialty insurance solutions limit the financial risk associated with higher-than-anticipated consumer responses and claims associated with redemption-based offers.- Transfer the financial risk of over-redeeming to an insurer
- Prevent budget over-runs
- Eliminate the need to hold budgets in reserve until the program ends
- Go to market with high-impact promotion solutions that competitors strive for
How does Over-Redemption Insurance work?
Coverage is based on pre-established liability which is determined by historical performance and redemption factors. Clients are assured their budget is protected if actual consumer redemption exceeds forecasts. iC Group provides over-redemption coverage for:
- Coupons
- Rebates
- Instant wins
- Loyalty points programs
- And more