The Philippine sports and entertainment industry is seeing a shift in how events are managed, with insurance now being woven directly into ticketing platforms. This approach, known as embedded insurance, offers protection for both event organizers and attendees in case of disruptions or accidents.
Globally, countries like Brazil have already taken steps in this direction. Global insurtech firm discovermarket has partnered with Sympla, Brazil’s top event platform, to offer public liability insurance. Organizers using Sympla can secure insurance coverage by answering just two questions online, making the process quick and accessible.
“Embedded insurance changes that. It’s integrated, and tailored to real-world event needs — from liability and cancellations to covering mishaps or property damage,” said Marco Kamerling, chief commercial and marketing officer at discovermarket. “For attendees, it can mean refund protection or accident coverage. Ultimately, it helps build trust across the entire event ecosystem.”
A timely model for the Philippines
In the Philippines, the events sector is bouncing back after the pandemic, with rising demand for concerts, sports games, cultural events, and trade shows. As the industry recovers, the risks tied to large gatherings remain. For instance, the sold-out “BINIverse” concert by girl group Bini was postponed due to Typhoon Pepito, showing how weather and other unexpected issues can impact events.
With a growing number of people attending events, there’s also a stronger need to manage these risks more effectively. discovermarket’s digital platform simplifies the process of getting insurance, giving organizers an easier way to prepare for the unknown.
Supporting the ecosystem
Live events are more than just entertainment — they provide jobs for many people, from stagehands and engineers to vendors and freelancers. Having built-in insurance can help secure their income when things don’t go as planned.
discovermarket’s technology allows insurance products to be distributed digitally, reaching even small-scale organizers who were previously overlooked. With over 83% smartphone usage in the Philippines and wide use of mobile wallets, embedding insurance in the platforms people already use makes sense.
Bringing this model to the Philippines would require cooperation among ticketing services, online platforms, and insurance providers. With the right partnerships, embedded insurance can be a useful tool in making the events scene more stable and dependable.