Technical failures are not the only reason why a person does not attend a concert or sporting event. Lost tickets, cancellations, date changes and even illness are some of the other reasons people miss an event. And most of the time, they lose the money they paid for their accesses.
Julio Castillo, senior vice president of strategic alliances for Latin America of the Cover Genius platform, explains that once people recognize that risks exist, that is when they decide to take action to protect themselves. “Latinos don’t see the need to protect ourselves until we are placed within the context, and when protection makes sense, we act,” he explains.
The director of the firm, which offers a service of live entertainment ticket protectionrefers that in the Latin American region between 15 and 20% secured their tickets, a figure that depends on the type of event or the places where they take place.
“Given the conditions that clients want to protect themselves against, we have fertile ground, as long as it’s done in a technological way,” he says.
For the manager, the Mexican market has great potential for services since it is attractive for holding any event, because it has a large and multi-interest audience that can afford the costs of the events.
Cover Genius offers its services online. The company, in addition to live events, offers insurance for travel tickets and online shopping, to name a few. The company works with API integration, that is, it allows you to incorporate your software with different applications.
The company did not detail the projections they have for the growth of the business in Mexico, nor the investment in the country, in which they see potential to grow.