Overview
Teak provides consumer flexibility solutions for the experience economy by offering Smart Refunds and Friendly Insurance through a lightweight API that can be embedded at checkout. The platform enables businesses in live events, sports, endurance racing, and travel to add refundability to purchases, increasing ancillary revenue while Teak handles the entire refund flow—customer support, payouts, risk management, compliance, and revenue optimization. It differentiates itself with end-to-end, API-driven refund and insurance services backed by rated insurance carriers and its FanShield subsidiary, catering to activities where bookings and experiences are core. Teak’s goal is to help partners boost revenue, simplify operations, and improve the customer experience, with a track record of processing over $1 billion in experiences since rebranding from Protecht in 2025.
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Simplify's take
What believers are saying
- On November 3, 2026, Teak launched TeakOS and Checkout Intelligence upgrades.
- January 12, 2026 case studies showed 21% higher protection adoption at checkout.
- Teak says it has protected $1B+ experiences and signed partners like Paciolan.
What critics are saying
- If FanShield loses licensing or carrier support, Teak’s U.S. revenue stops quickly.
- Embedded refund protection is crowded; Paciolan, Accesso, and rivals can disintermediate Teak.
- Teak depends on partners like Six Flags and Paciolan, concentrating channel risk.
What makes Teak unique
- Teak embeds refund protection directly into checkout through one lightweight API.
- FanShield, LLC keeps Teak’s U.S. insurance business licensed and carrier-backed.
- Teak specializes in live events, sports, racing, and travel, not generic insurance.
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