Insurance – A New Revenue Source for Races

As we announced a few weeks ago, we now make it easy and profitable for races to offer the convenience of insurance for participants if they get injured, ill or have other obstacles to attending your race.

It is a great offering for runners and triathletes who plan on training hard for your event, but are concerned they might not be able to make it – much like airlines offer travel insurance. It is very affordable for participants (minimum charge of $2.99 for transactions up to $24.99, $3.99 for transactions between $25.00 – $49.23, and 8.1% above that).

The new RegShield offering is also a revenue source for races because 20% of the insurance revenue is split with the race. Here are some examples:

We do not yet have good data on the average percentage of participants buying insurance, but it is an easy and convenient option for any race. It eases the worries of some participants, and it generates a little bit of extra revenue – which everyone needs right now.

It is easy to turn on – just search for “Insurance” on our race dashboard and flip the switch to on. We are also putting this in the wizard and renewal process to make it easy for races to access to enable.

Insurance payments will be made via our normal payment system with an adjustment that will show on your financials after the race has completed.

To learn more, see the detailed blog on RegShield Insurance here.

To watch a webinar on the RegShield Insurance option, see the video here.

Subscribe to Our Blog

Customize Lists...