{"id":4183,"date":"2023-04-18T08:40:03","date_gmt":"2023-04-18T15:40:03","guid":{"rendered":"https:\/\/blog.goticketly.com\/index.php\/2023\/04\/18\/customers-more-likely-to-purchase-event-tickets-when-offered-cfar-protection\/"},"modified":"2023-04-18T08:40:03","modified_gmt":"2023-04-18T15:40:03","slug":"customers-more-likely-to-purchase-event-tickets-when-offered-cfar-protection","status":"publish","type":"post","link":"https:\/\/blog.goticketly.com\/index.php\/2023\/04\/18\/customers-more-likely-to-purchase-event-tickets-when-offered-cfar-protection\/","title":{"rendered":"Customers more likely to purchase event tickets when offered CFAR protection"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"primary\">\n<p class=\"standfirst\">Consumers are more likely to purchase event tickets, flights and accommodation if offered \u2018cancel for any reason\u2019 (CFAR) protection, according to a recent report commissioned by Cover Genius, the insurtech for embedded insurance.\u00a0<\/p>\n<p>Of the respondents, some 63% said they were more likely to purchase an event ticket with CFAR protection, compared to a more limited refund protection option, or no protection at all. The number reduced to 54% when offered a more limited refund protection option.<\/p>\n<p>Ticket-holders are also willing to pay more for CFAR protection, with respondents stating they would be willing to pay 123% more for CFAR protection than non-CFAR protection (29% extra of the ticket value vs 13% extra of the ticket value). Many said that convenience was the primary reason.<\/p>\n<p>CFAR refund protection allows customers to seamlessly request a refund for their purchases, without having to sort through paperwork or provide documentation. A 17-point increase in Net Promoter Scores (NPS) showed that the convenience of CFAR protection led to higher customer satisfaction.<\/p>\n<p>The <a href=\"https:\/\/covergenius.com\/refund-protection-report-uk\/\" target=\"_blank\" rel=\"noopener\">report<\/a> was conducted by Momentive.ai on behalf of Cover Genius and analysed 10,300 consumers from countries including the US, UK, Australia, Japan, South Korea, Brazil, Germany and France.<\/p>\n<p>The travel sector has also seen a similar trend with CFAR protection, with 60% of travellers more likely to purchase an airfare when given the option to purchase CFAR protection rather than non-CFAR protection.<\/p>\n<p>Angus McDonald, chief executive and co-founder of Cover Genius, said: \u201cToday\u2019s consumers are resoundingly opting for comprehensive, convenient protection options like CFAR.<\/p>\n<p>\u201cInsurtechs can help digital companies meet this demand with seamless integration via an API for ticketing platforms, venues, resellers, airlines, OTAs, hotels and more. Our award-winning distribution platform, XCover offers refund protection for any event, anywhere in the world, with CFAR and other travel insurance options that drive customer satisfaction and add-on revenue.\u201d<\/p>\n<p>\t\t\t\t\t\t\t<!-- \n\n<div class=\"tax-cat-tags\">\n\t\t\t\t\t\t\t\t\n\n<div class=\"col-sm-6 tax-cat\">\n\t\t\t\t\t\t\t\t\t\n\n<p class=\"\">Filed under<\/p>\n\n\n\n\t\t\t\t\t\t\t\t\t<button class=\"btn\" >Awards<\/button>|<button class=\"btn\" >Ticketing<\/button>\n\n\t\t\t\t\t\t\t\t<\/div>\n\n\n\n\t\t\t\t\t\t\t\t\n\n<div class=\"col-sm-6 tax-tags\">\n\t\t\t\t\t\t\t\t\t\n\n<p class=\"\">Tags<\/p>\n\n\n\t\t\t\t\t\t\t\t\t<button class=\"btn\" >Ticketing<\/button>|<button class=\"btn\" >Stadiums<\/button>\n\t\t\t\t\t\t\t\t<\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\n --><\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.theticketingbusiness.com\/2023\/04\/18\/customers-more-likely-to-purchase-event-tickets-when-offered-cfar-protection\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Consumers are more likely to purchase event tickets, flights and accommodation if offered \u2018cancel for any reason\u2019 (CFAR) protection, according to a recent report commissioned by Cover Genius, the insurtech for embedded insurance.\u00a0 Of the respondents, some 63% said they were more likely to purchase an event ticket with CFAR protection, compared to a &hellip; <\/p>\n","protected":false},"author":1,"featured_media":4184,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4415,2483,4416,364,4417],"tags":[],"class_list":["post-4183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cfar-protection","category-cover-genius","category-insurence","category-live-music","category-momentive-ai"],"_links":{"self":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/posts\/4183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/comments?post=4183"}],"version-history":[{"count":0,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/posts\/4183\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/media\/4184"}],"wp:attachment":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/media?parent=4183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/categories?post=4183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/tags?post=4183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}