Crowdfunding platform Indiegogo tests insurance for backers

The crowdfunding platform Indiegogo is testing a service that allows users to purchase insurance on their donation. If the intended product does not appear within three months of the expected delivery date, an individual can claim back the amount donated.

The company behind the crowdfunding platform has confirmed the test to TechCrunch, but Indiegogo does not want to say anything about possible future plans. The optional insurance service would currently only be tested on the wearable Olive on one fundraising campaign.

The ‘smart’ bracelet should help to overcome stress. An Indiegogo user can order the Olive for 129 dollars, which is converted to an amount of about 103 euros. Insurance costs an additional 15 dollars, or about 12 euros.

Indiegogo provides the insurance itself and according to the table there are a total of 25 available. If a product is not delivered within three months of the pre-specified delivery date, the person concerned is entitled to a refund of the money invested.