We introduced a new Race Insurance product that allows races to offer their participants the chance to buy insurance in case they get injured and can not attend the race in June of this year. Adoption has been very rapid, and we are happy to report races got a revenue share of $19,558.95 from the sale of 15,452 insurance policies purchased by participants across 1,179 races.
Large races with higher price point did better, with two races earning over $1,000 in the month.
We are seeing increased adoption of offering insurance to participants. In addition to adding a little revenue boost to races, it can also help with getting more people to signup, and signup earlier. Participants who may be on the fence are more likely to complete registration knowing that they are covered if they are not able to attend the event the event due to unforeseen circumstances.
We offer this option on the last step of the race create wizard and on the last step of race renewals, so it is easy to enable (or disable if you choose not to offer this to participants).