All of us at The DAIMANI Journal are delighted to share with you the news that our sales platform, the world’s first digital platform for official VIP Hospitality, has introduced RefundProtect.
What is RefundProtect?
RefundProtect is the first-ever refund protection policy that is available globally for the purchase of official VIP Hospitality packages. The coverage is valid in more than 190 countries and territories.
On The DAIMANI Journal we have spent a lot of time charting the impact of the coronavirus so it would be foolish of us to pretend it is not an issue. RefundProtect is DAIMANI’s way of responding to the coronavirus and hopefully helping to generate buying confidence.
We’ve seen global travel be largely shut down and the Live Event industry brought to a standstill in many territories. RefundProtect can help boost consumer confidence because it offers full refunds direct to the client in the event they encounter risks that might prevent them from attending a Live Event for which they have purchased official VIP Hospitality from the DAIMANI platform.
Why are you doing this now?
‘The overwhelming response of our business and individual customers is that they can’t wait to get back to Live Events. But what they’ve rightly learnt from the coronavirus is to look for options that give peace of mind in case circumstances change,’ said Max Mueller, CEO of the DAIMANI. Mueller confirmed that because all DAIMANI clients sign the event rightsholder’s contract at the point of purchase, customers’ primary peace of mind comes from whatever are the event’s terms and conditions if the match or fixture is postponed or cancelled.
‘This is not about what happens if the event is cancelled because all of our customer purchases are direct with the rightsholder, so are subject to those specific terms and conditions if an event is cancelled or rescheduled,’ said Mueller.
The issue that Mueller says DAIMANI wants to address is that clients are buying a premium product that is for a specific moment in time, like a men’s final tennis match, or European club tie. That produces a degree of risk for the customer which is entirely unrelated to the event itself, for instance that their flight might be cancelled, they might be ill on that day or lose possession of their tickets.
Pre-coronavirus, says Mueller, nobody really assessed those risks. But now customers are right to be more risk-aware.
Mueller said for many in the VIP Hospitality industry the way governments and businesses had been forced to respond to the special circumstances has shown just how many elements, from the point of purchase onwards, have to function perfectly before a client even reached the event.
‘Individual events may offer individual insurance cover, but on the selling side this is the first time that a global platform has covered all offered events with the same straightforward protection,’ said Mueller.
Who is providing this cover?
After a lengthy due diligence process, DAIMANI selected the UK-based company Protect Group. Their policies are underwritten by A-Rated global insurance providers.
What circumstances are covered?
We would always recommend you read the full terms and conditions but RefundProtect offers protection against a wide range of client-sided risks, including:
• Accident, Illness, Injury
• Pre-Existing Medical Condition or Pregnancy-related conditions
• Fire, Flooding, Adverse Weather
• Scheduled Airline or Private Vehicle Failure
• Armed Forces or Emergency Services Recall
• Theft of physical Tickets, Burglary
• Jury Service or Court Summons
• Relocation by your Employer, Change of Exam dates
RefundProtect offers real world intelligence for cover: for instance, if three guests in a ten-person booking are unable to attend, for any of the eligible reasons, then the purchaser can claim against the cost of those three only.
Marc Denny, Chief Partnerships Officer at Protect Group, says of the new relationship: ‘This enforces our belief that, whilst this is a challenging time for the market, we are ideally placed to help those who facilitate online bookings to come through this pandemic period with a growing sense of hope and expectation. By working together to enhance the DAIMANI customer experience we strive to give people the confidence to commit to, and spend their money on, upcoming events and VIP hospitality packages across the world.’
What do I need to do?
As of July 10 2020, all DAIMANI customers can add RefundProtect to their customer baskets when they checkout.