Integro are an insurance broker who have expanded into the world of esports over the past year. With policies for event organisers, teams and brands their objective is to provide a level of stability and support.
Some of the policies they offer include Cancellation Insurance for event organisers. This supports event organiers in case their event is cancelled. There’s also policies for Equipment Insurance and Prize Indemnity Insurance.
The teams side is more interesting in that they provide services for the teams and in support of the players. An example is a policy for Contractual Bonuses to ensure the teams/organisations pay out what is due to the players. You’ve also got Personal Accident Insurance for career-ending injuries and your traditional Public/Product Liability Insurance.
Brands and sponsors are the next group of stakeholders Integro work with and this is the bit that excites us. A Contractual Bonus Policy enables brands and sponsors to get creative with their marketing campaigns.
An example would be a bonus of $500,000 for winning a FIFA tournament without conceding a goal. The brand or sponsor who supports this campaign may only need to have a small budget. This is because they’ve taken out an insurance policy against the probability of the results. If the requirements are met then the insurer would pay the $500,000. The insurance policy may cost the brand $20,000 USD but they would get all the campaign benefits of promoting the $500,000 bonus.
Games and tournaments present opportunities to use the probability of certain outcomes. Having identified the most suitable then marketing campaigns can be built around them.