Client Machine Cover
Category Public relations, strategic communications
Machine Cover is a Boston, Massachusetts-based technology company that had created parametric insurance platforms for the travel, cyber and homeowners’ markets. When the COVID-19 pandemic struck in 2020 putting millions of businesses into lockdown, Machine Cover CEO Inder-Jeet Gujral realised that parametrics could provide businesses with quick, simple and easy-to-understand business interruption (BI) insurance cover. Machine Cover is a two-year-old company with no public profile so Rein4ce was tasked with delivering a six-month campaign to raise awareness of the business and its products among insurance companies who might sell their services to insurance clients.
After a brainstorming session to establish the company’s unique selling points, Rein4ce identified a series of trade publications where Machine Cover would like to appear and upcoming features and webinars which could showcase the company’s expertise. Rein4ce drafted a first press release announcing the company was developing what it believed to be the world’s first parametric-based pandemic insurance product and arranged a series of media interviews.
The launch press release was covered in 11 insurance industry titles including Best Week, Insurance Day, Insurance Business, Commercial Risk, Asia Insurance Review, Middle East Insurance Review, Intelligent Insurer, Captive International, and Life Insurance International, and generated a number of follow-up interviews.
One highlight of the campaign was an interview with the Reuters news agency which resulted in resulting in global coverage in 109 publications, including the New York Times, Daily Mail, Guardian, Pakistan Post, and India Today. Rein4ce also secured interviews or articles for Machine Cover in Captive International, Digital Insurance, Global Reinsurance, Leader’s Edge, Insurance Journal, Global Business Outlook and Intelligent Insurer, and drafted an opinion piece on parametric insurance for Carrier Management magazine.
Rein4ce also leveraged its industry contacts to introduce IJ Gujral to a number of key insurance executives. In addition, I-J Gujral was able to showcase the expertise of the company in webinar appearances we arranged in Post and Intelligent Insurer magazines. In total, PR activity for six months resulted in 129 articles, with a reach of 637.56 million people and an advertising value equivalent (AVE) of £4.02 million.
What the client said
“Rein4ce was highly effective in promoting Machine Cover to the exact audience of insurance and professionals we were trying to reach in a short space of time,” said Machine Cover CEO Inder-Jeet Gujral. “This resulted in extremely positive exposure for the business. I have been very impressed by Rein4ce’s industry knowledge and media contacts, and I would recommend them to other businesses looking to raise awareness of their profile within the international re/insurance markets.”