New Collaboration Provides an Alternative to Nonrefundable Fees for SI PLAY Parents and League Administrators
Coverage Offered by Next Wave Insurance Services, LLC and AIG Travel Can Cover Fees Incurred When Planning Youth Sports Seasons
(NEW YORK, NY, AUGUST 15, 2017)—Time Inc.’s (NYSE: TIME) SPORTS ILLUSTRATED PLAY announced today that it has teamed up with AIG Travel to offer Registration Saver (Regsaver) to insure fees associated with booking youth sports seasons on the SI PLAY platform. This arrangement between SI PLAY—one of the most widely used and fastest growing software companies in the youth sports industry—and AIG-backed Regsaver provides an alternative to no-refund policies for illness, on- and off-the field injuries, and active military or job transfers, aiding SI PLAY parents, league administrators and more than 17 million users.
SI PLAY CEO Jeff Karp says: “We found that SI PLAY users playing in leagues without refund policies were searching for a solution. SI PLAY decided to fill this gap in the industry with an additional layer of player protection, and we turned to Next Wave and AIG Travel to help. We believe that both SI PLAY parents and league administrators will benefit greatly from Regsaver, as it can provide insurance coverage for the entirety of a season.”
Under the new arrangement, league administrators will no longer need to worry about offering or processing refunds associated with illness, injury, or job relocation for parents who purchase Regsaver. Next Wave, in partnership with AIG Travel, will directly handle all customer inquiries and claim processing to reimburse parents for covered claims.
The Regsaver insurance policy will be offered in tandem with SI PLAY’s seasonal registration process. When registering seasons on the SI PLAY platform, parents will have the option of insuring all of the registration fees for their event. Regsaver will offer coverage for illness, on- and off-the-field injuries, active military service transfers, or job transfers. If a parent files a claim, AIG Travel will handle the inquiry directly, saving league administrators time and hassle.
“From sudden job relocations to off-the-field injuries, the unexpected can always happen. Regsaver provides an affordable option to safeguard the investment that families make when signing up their children to play sports,” said Jeff Rutledge, CEO, AIG Travel.
ABOUT SI PLAY
SI PLAY brings together industry leaders in sports software around a simple yet ambitious goal: to connect the world of youth sports. Since its launch in July 2015 as part of Time Inc., SI PLAY now supports more than 17 million users across a wide range of sports, regions and age ranges through its digital products and services and is the official technology provider for a growing number of youth sports’ national governing bodies. The company provides the platform and tools to fuel the passion for sports and ensure a rewarding experience for all participants. For more information, please visit www.siplay.com.
ABOUT AIG TRAVEL
AIG Travel, Inc., a member of American International Group, Inc., is a worldwide leader in travel insurance and global assistance. Travel Guard® is the marketing name for its portfolio of travel insurance solutions and travel-related services, including medical and security services, marketed to both leisure and business travelers around the globe. Services are provided through a network of wholly owned service centers located in Asia, Europe and the Americas. For additional information, please visit our websites at www.aig.com/travel and www.travelguard.com.
American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG’s core businesses include Commercial Insurance and Consumer Insurance, as well as Other Operations. Commercial Insurance comprises two modules – Liability and Financial Lines, and Property and Special Risks. Consumer Insurance comprises four modules – Individual Retirement, Group Retirement, Life Insurance and Personal Insurance. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
ABOUT NEXT WAVE
Based in San Diego, Calif., Next Wave Insurance Services, LLC operates as a Managing General Underwriting and Wholesale Brokerage firm in the Property & Casualty insurance industry. The firm specializes in developing a wide range of customized insurance products in both the personal and commercial lines markets. Next Wave also designs the technology required to distribute insurance policies efficiently to consumers nationwide.
Danny Leonard, Time Inc. 212-522-0361, Danny_Leonard@Timeinc.com