RunSignup and Protecht offer races a new revenue source

RunSignup, the leading registration and technology solution for US endurance events, announces Protecht’s FanShield-RegShield product as their new registration protection insurance provider. Registration protection insurance allows races to offer an insurance option to their participants during the registration process. In doing so, participants are able to deal directly with Protecht RegShield for refunds when a covered emergency prevents their participation, and race directors save both the cost of the refund and the customer service time required to manage the request.

While RunSignup has had an option for registration protection insurance since 2016 through another provider, the new RegShield option makes it easy and profitable for races to offer convenient insurance. Protecht RegShield insurance is affordable for participants, with the cost for registrants calculated as a simple 8.1% of the registration cost and processing fee. For low–cost events, the low minimum of $2.99 makes registration insurance attractive even for participants in 5K’s and community events.

In addition to reducing the number of refund requests a race has to respond to, Protecht RegShield can directly increase a race’s bottom line through a revenue-sharing program. The event earns 20% of the insurance premiums generated by participants in the event ($0.60 per participant at the minimum premium), with payments made at the conclusion of the event.

“We’re excited to bring race directors a new opportunity to increase revenue while decreasing customer service,” said RunSignup CEO & Founder Bob Bickel. “While it’s too early to have reporting on how many participants will opt-into this new insurance product, previous experience suggests that 10-20% of participants buy insurance when it is an option. Insurance minimizes direct refund requests, reduces barriers to registering early, and increases money flowing into the race. It really is a win-win-win.”

To learn more about RunSignup’s new participant insurance from Protecht RegShield, check out the RunSignup Blog or register for the upcoming webinar on 5/4/2023.