Insurance
Risky
business
Gaming can be a risky business,
especially for those starting out
in the industry. Launching new
sites and products requires deep
pockets – and to attract and retain
players, those pockets need to be
overflowing not just with cash,
but with compelling games, huge
jackpots and exciting promotions.
O
f course, as in any industry, there are
ways that start up companies can get an
edge – but in the very serious business
of online gaming, there are no easy
cheats for those looking to reach the highest
levels. And, while it is a risky business, there are
ways to manage those risks, and this is where
PIMS-SCA can help.
Jackpot prize insurance explained
PIMS-SCA is a leading promotional risk
management specialist provider – which is
essentially the insurance of promotions, contests
and games.
For an insurance premium that is often a
small fraction of the amount at risk, a brand or
company can insure itself against the possibility
of a winning outcome on a game or promotion.
If there is a big win, the insurance policy covers
the jackpot payout.
The financial ability of such a provider is
of course paramount when engaging in prize
insurance and should not be taken lightly!
PIMS-SCA is a registered Lloyd’s Broker,
72 | Marketplace 2015/16
Sponsored by
authorised and regulated by the Financial
Conduct Authority and works with some of the
largest, global A-rated insurance companies.
Such credentials guarantee complete financial
security for client jackpot prize insurance needs.
Jackpot and prize insurance has been used in
land-based gaming (especially in North America)
for decades. This type of insurance has enabled
practitioners to run massive prize promotions
offering multi-million dollar prize funds, while
minimising their financial outlay.
Quite simply, insurance enables small, new
brands to compete with bigger, more established
companies in the jackpot stakes, without
necessarily having a supporting player base.
Big operators on the other hand can offer
players the chance to win mega jackpots, for
ultimate stand-out and customer engagement.
The advantage of insurance is that it can be
used to cover jackpots for almost any game of
chance and even certain skill-related games. For
example we have insured jackpots for Lotteries,
Bingo, Poker, Slots, Roulette, Blackjack,
Keno, Scratch Card and Sports games and