An Insured Prize Promotion allows a business with a nominal marketing budget to run a promotion that offers an exciting, potentially life changing prize by insuring the competition against a large prize payout. This Contest Insurance allow the promotion to offer big prizes even with a limited and defined budget.
Nationally there are over 60,000 promotions with prizes each year so it’s so important that your competition or promotional event attract attention with a prize that promotes the competition and stands out from the crowd. Insuring your prize promotion is critically important to the success of your marketing campaign.
With Contest Insurance, even a low budget prize promotion can offer an exciting prize ranging from a new car to a million dollar cash.
The right prize promotion insurance will indemnity your business by insuring your contest from unexpected large prize payouts.
Insuring your Prize Promotions with Prizetech lets you fix your budget. Even if the competition is won multiple times, there is no risk to you. In fact with prize indemnity insurance you’ll be hoping the competition prize is won.
By insuring your contest and limiting your cost you can then embark on an exciting promotion offering awesome prizes.
These insured prizes help make sure your event is more exciting, more successful and leads to more sales, data capture or marketing exposure.
Prizetech can help you develop a really exciting event for your business by insuring your competition.
An example of an insured prize competition is a Hole-in-One golf competition.
A Hole-in-One golf contest is a great way to promote your charity golf event where Prizetech will insure your prize and take all the risk for paying out the prizes. This allows you to promote an exciting attractive prize ensuring a successful event.
We can insure any prize! Or anything that’s legal (there is the odd prize our MD might veto).
Some of the prizes we’ve insured over the years include a million dollar prize in cash, luxury cars, boats, holidays and varied technology prizes.
In our ‘Safecrack’ promotion you can use anything from your own products through to a car (we usually put the keys and a model car in the see through safe), a property (we put the keys and a property title) or a stack of money or fancy holiday (tickets look good in the safe).
Although we specialize in contest insurance some promotions do not require insurance.
An example is our “Safecrack Promotion” which is a clear see-through safe that operates like a real safe require the contestant to crack the combination to win the visible prize inside the safe.
This safe is programmed with anything from 1 to 12 digits and is filled with your products or other prizes. These won’t be insured.
Or you might want a mix of insured and uninsured prizes. That’s another FAQ.
There are many ways to run promotions, including have a mix of insured and uninsured prizes.
You might start the prize promotion with uninsured lower value prizes and then move to insured prizes as the promotion evolves. This might change during the day for a single day promotion or over time for a longer term promotion.
Or you can even run both insured and uninsured prizes simultaneously – the lower value prize is uninsured but easier to win. It creates yet another layer of excitement as the contestants have to choose which option they will try for.
You’ll need to discuss this with Prizetech.
Many variables including demographics, business area and the time of year can impact the success of your event.
Because we specialize in contest Prize Insurance we can customize a marketing promotion to suite your business and budget.
Usually, we can have your promotion prize insurance active within 48 hours.
As we work on an authority from Lloyds of London we do all probability insurance in house.
Prizetech provides the insurance, pre draw facility to comply with state regulations, legal compliance, permits and even the draw technology.
If you have any problems with the promotion or draw we have a 24/7/365 help desk operating in Australia!
Your promotion can either have a single winner who has the chance to win the big life changing prize or the promotion might result in many people having the chance to win the large insured sum. Some of the things you’ll consider when deciding between the two options are:
Another consideration is what you’ve done previously, it can be awesome to vary the mix between single winners and a large number of entrants. Remember anything involving many winners needs you to have a good MC, this can in turn become a great feature as your venue can be packed on draw day / draw night creating a fabulous and memorable event for you.
We can tailor promotions to suit every budget starting from as low as $495 for simple online electronic draws. Generally our clients spend amounts from $2,000 upwards.
Cost is driven by the value of the prize, the probability and the draw mechanism (what sort of draw insured draw event you want). These are detailed on Prizetech’s web site.
You can have the draw conducted at your own premises, your Agencies Offices, in our office or any other location. You can consider streaming the draws on a social media platform or recording them to upload to your website.
Prizetech can help you with broadcasting or even simulcasting (radio and social media).
This will vary based on your own circumstances. Sometimes it’ll be one day (especially major sports in stadia promotions) while some will run a full year.
Most Club and venue promotions run for 8-12 weeks while financial institutions and builders tend to run promotions for 6+ months.
Yes, Prizetech can arrange your Terms and Conditions as well as the permits if you are promoting in those states needing a permit.
Yes there are, you need to have Terms and Conditions, in some states or territories you also have to have a permit. Refer to the Legal page for more details here.
Queensland, Victoria and WA generally don’t require permits.
NSW & ACT usually take 3 to 5 days to issue a permit. South Australia can take up to 2 weeks.
But time flows will vary based on the time of year, they can take longer at peak times.
Permit obligations are simple, if you accept entries from residents of permit states you must get a permit from that state. So in this example the West Australian promoter will need a South Australian permit.
Generally an insured prize promotion runs for 8- 12 weeks, the maximum is 12 months.
Usually you’ll have these within a couple of days. If your promotion is more complex it may take a little longer but we always try to have these completed within 2 business days.
You need to read through the terms and make sure all dates, entry conditions and addresses are correct. This is a really important job as the T&Cs can’t generally be altered once you start your insured promotion.
No! In most cases this won’t be permitted.
There are strict obligations on the promoter, you have to follow the regulations in your state. If you’re experiencing any issues or problems contacting your winner you should consult your lawyer to ensure you’re compliant with the regulations.
Before conducting the new draw, the Promoter should take reasonable steps to contact the person originally drawn. Specifically, the promoter should email, call and send a letter using registered post.
The correspondence should include a line “Please reply to us via [method] within 5 business days. Please note that if we do not hear from you via this method we will conduct a new draw and you will not have any claim to further participation in the competition”.
If you have a permit for the promotion you are running you will need to apply for an amendment to your permit.
Regulations require each entry to have an equal chance of winning with the draw being random. You should video this draw which is useful if your draw is ever challenged.
The supervisor will bring along with them to an envelope draw the envelopes. You need to provide the inserts. If you need assistance with designing inserts please contact a Prizetech Team Member.
Which form of security envelop is needed will be determined by the prize value. But you need not worry about this as Prizetech provide the envelopes to you, the supervisor will bring these to your insured draw.
You will receive a phone call and an email from the supervisor in the lead up to your draw date.
Prizetech recommends you use a marketing specialist. We have some limited marketing materials available for purchase. You can see these on our marketing page click here.
Yes you need to have the condense T&C’S on your promotional work. Prizetech recommends they are always available on your web site too.
No you cannot. This is confidential and can’t be publicly disclosed. You can of course share the details with your professional advisors, Agency and the like.
No. Once the policy is in place it cannot be cancelled.
The procedures here are quite strict, generally you can’t discontinue a promotion or vary the details.
You need to click more info scroll down to the bottom of the page and enter the person running the promotion and the lucky winners name and phone number, then click update.
You must have a secure WIFI connection to operate the safes. If you don’t have a WIFI connection at the location you are doing your promotion at you should visit your local electrical store or phone retailer to buy a portable WIFI router.
The data from each entry is then stored in our secure cloud, at the end of the promotion you’ll receive the details of every entry and the correct combination.
Our safes are tested and maintained after each use. In the unlikely event of a malfunction or damage Prizetech will provide you with an electronic version of the safe which you can display on your venues TV. This will allow you to continue with your draws.
Prizetech operate a 24/7/365 telephone support for our clients.
You will receive an automated email from Prizetech as soon as your promotion concludes. It’ll include every entry attempt as well as the winning code so you can share this with all contestants.
Yes, if the prize is won then you want to continue your promotion you need to contact Prizetech to purchase a further technology licence. This is quite a simple process.
The promotion will not be able to go ahead without a camera clearly videoing the end of the green with the hole.
Prizetech makes a minimum of two unique sets of dice for each promotion. This protects you in case a set gets lost or damaged.
The supervisor will make a determination. Under the rules the Supervisors instruction is final.
If you want to continue the promotion you will need to contact Prizetech to purchase another policy, this is a very easy process.
If you put a written request to Prizetech staff we can change the number of cards in the game. We can offer a draw till you win with 50 cards. This helps reduce the price of insurance but lets you keep the same prize level. The probability is the main pricing mechanism.
Our Prizetech draw till you win boards are standard inclusions but you do not have to use them. You are more than welcome to make your own board.
No not at all, You can fully customize what is on the cards as long as there is 5 sets of 4 items. Simply call Prizetech who will help you with this.
The supervisor for the event will bring the dice to the venue for the promotion. To maintain the integrity of the promotion it’s non optional our supervisor delivers the dice. Of course you can keep them after the event. Ordinarily we make two sets of dice as a precaution in case of damage.
Yes the wheel will needs to have the agreed amount of wedges and will need to pass a test of randomness that the supervisor for the event will conduct before the draw. Our supervisor will conduct an extensive test prior to the draw – this is a fundamental condition for obvious reasons.
In extraordinary circumstances Prizetech can defer the allocated time of the draw.
An option Is to ensure you have a mobile phone hot spot or portable wireless device as a backup on draw day.
You can always fix a WIFI problem by connecting to your mobile hot spot. If the power goes out Prizetech can defer the start time of the draw.
Design and building of our promotions, roasting our secret blend of coffee, popping popcorn and all the serious stuff happens in our office and show room in South Melbourne. You are welcome to come by to see our wonderful insured promotional products and insured draw mechanisms.
We’re close by the home to the South Melbourne Football Club (soccer club).