Allianz Global Assistance USA, a leading provider of consumer specialty insurance, announced today that it has entered into an agreement with Embark, LLC, to facilitate partnerships in the Conference industry.
Allianz Global Assistance has partnered with Embark to find distribution opportunities for Allianz Conference Protector*, a new insurance product that will refund a conference attendee’s registration fee if they are unable to attend their event due to a reason covered by their policy. Embark specializes in creating value-added transactions in the conference industry and developing ancillary revenue opportunities for conference registration and promotion companies.
A recent study by PriceWaterhouseCoopers LLP found that 225 million participants attended more than 1.8 million conferences in the U.S. in 2012.
“We’re pleased to work with Allianz Global Assistance on introducing this new and exciting ancillary revenue opportunity to the Conference industry,” said Embark president David B. Wheeler. “Conference registration cancellation insurance is a product that we expect will be well received by both conference organizers and attendees.”
Conference registration cancellation policies vary by event, but refunds are generally not available after a stated cutoff date and cancellation fees may apply even when a refund request is accepted.
“We’re excited to partner with Embark to launch our new Conference Protector product,” said Pat Young, vice president of Strategic Partnerships at Allianz Global Assistance USA. “Conference Protector will provide attendees with a way to protect their conference registration investment while reducing the burden placed on organizers to manage requests for cancellation refunds.”