Indiegogo Is Testing Optional Insurance Fees For Crowdfunded Products

I’m cautiously optimistic about how this innovation could help some legitimate projects raise funds! We’ll see soon enough.

TechCrunch

This year has been a tricky one for crowdfunding site Indiegogo, thanks to a number of campaigns using its service to raise money for dubious projects (though there have been some cool uses). It looks like the company is responding with a new feature that offers backers some peace of mind about their investments.

The company is testing an ‘Optional Insurance’ fee that provides a refund if backers do not receive the final product within three months of the estimated delivery date. Indiegogo insurance is being tested on one project at this point — stress-management wearable Olive — where it offers potential peace of mind for a $15 fee on top of the product’s $129 backing price.

The company confirmed to TechCrunch that it is running this test, but it declined to discuss wider plans for insurance.

“Indiegogo regularly develops and tests new features to meet the needs of both funders and campaign owners. This pilot…

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About schapshow

Math & Statistics graduate who likes gymnastics, 90s alternative music, and statistical modeling. View all posts by schapshow

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