Malaysian event technology specialist, Evenesis – Y Us, has introduced a protection and coverage plan for business event organisers and attendees who use the Evenesis platform.
The plan guarantees a 100 per cent refund of event registration fee to the insured attendee within 14 working days, subject to submission of required documents, should the attendee or the event be affected by flight delays, natural disasters, riots, war or government intervention.
Yusno Yunos, the company’s CEO and founder, noted that more event registration fees are “not protected in the event of any kind of cancellation”.
He said attendees would have to spend time trying to get a refund from the event organiser, who might be not protected from license revocation, key equipment breakdown, transport delays, riots, war and many other factors that could cause the suspension of their event.
“For event organisers, the refund is based on the collected amount from online registration. The full amount will be refunded,” Yusno said.
Yusno added that his product is the first of its kind in Malaysia, built specially for the business events industry.
He said: “We believe there is a need for such protection in the market as it provides comfort to the event organisers as well as their attendees. This comfort will lead to better overall event engagement and experience, which is the mantra of Evenesis.”
Nordin Yahaya, director, Higher Education Leadership Academy, Ministry of Education, Malaysia, commented: “Currently, it is difficult to get underwriters for business events in Malaysia. This protection will make it easier for the organiser as they will not need to engage or find a separate insurer.”
Nordin was the former organising chair for Asia Pacific Association of International Education Conference and Exhibition 2019.
Vincent Lim, president of CIS Network, expects adoption of such an insurance plan to take time as it is still uncommon. “Evenesis will have to do more education,” he said.
