If so, you may wish to consider what is termed an ‘Insured Promotion’, which is a lottery or test of skill event where the chance of a prize being won is covered by insurance. The promoter needn’t pay the full value of prizes of a significant value, if won, only the up front cost of the insurance policy.

For example, a $100,000 prize for a test of skill Hole in One golf competition at a championship golf event could be covered by insurance. The insurer calculates the odds of a major prize being won and writes a policy to cover the promoter in the event that the prize is won. Chance promotions can also be covered and prize insurance enables marketers to attract huge amounts of attention to their advertising and sales promotion.

If you’d like to investigate the feasibility of running an insured promotion please contact Peter McKinnon on 03 9 646 5644.

SAM Sales and Marketing can help you with:

• Campaign strategy and creative

• Promotion insurance

• Terms and conditions of entry and permit applications

• Competition entry systems: SMS, 1900, on – line, mail and on site

• Prize fulfilment

• Media planning and advertising campaigns

• Point of purchase advertising

• On – pack promotions

• Winners announcements

• Prize fulfilment