When It Snows, You Win: Inside the World of Prize Indemnity Insurance ft. Tokio Marine HCC

In the Loupe

Prize indemnity insurance might sound like a dry financial topic, but Robin Lang from Tokio Marine HCC reveals it's actually one of the most exciting marketing tools available to jewelers today. We discuss how retailers can offer customers full refunds on purchases if certain events occur – like six inches of snow on New Year's Day, or a Safety during the Super Bowl – while paying just a fraction of the potential cost themselves.

Robin walks us through the mechanics of these promotions, explaining how her team of actuaries analyzes decades of historical data to calculate the odds of specific weather events or sports outcomes.

Learn more about Prize Indemnity with Tokio Marine HCC: https://www.tmhcc.com/en-us/products/contingency/prize-indemnity

Send us a text

Send feedback or learn more about the podcast: punchmark.com/loupe
Learn about Punchmark's website platform: punchmark.com
Inquire about sponsoring In the Loupe and showcase your business on our next episode: [email protected]

Chapters

1. When It Snows, You Win: Inside the World of Prize Indemnity Insurance ft. Tokio Marine HCC (00:00:00)

2. Introduction to Promotional Insurance (00:00:19)

3. Punchmark Sponsor Message (00:01:15)

4. What is Prize Indemnity Insurance (00:02:11)

5. How Weather-Based Promotions Work (00:04:27)

6. Sports-Related Promotions and Statistics (00:07:17)

7. Payout Process and Marketing Benefits (00:10:50)

8. Implementing Successful Promotional Strategies (00:14:17)

9. How to Get Started (00:17:06)

10. Episode Closing (00:23:16)