There are many types of sales promotions techniques available to marketing managers keen to boost sales. Coupons, instant wins, collector items, free gifts, buy one get one free and cash backs are just some examples. The challenge for the marketing department is how to maximise the effectiveness of a sales promotion without exposing the company to unnecessary financial risk.
Over redemption cover allows a company that is entering into the promotion to have certainty over the budget required to support the costs associated with promotion redemption. It also allows the company to run subsequent promotions without having to hold funds back in case the current promotion has a greater than expected take-up rate.
Our over redemption policy allows the company to remove the risk of the promotion becoming a runaway and unanticipated success by choosing a level, the intervention threshold, at which the additional cost of the promotion is covered by our policy.
Beazley and Altamont form distribution agreement for contingency products.