Solutions for Sharing Economy Platforms
Sharing economy companies face two interlinked challenges: achieving critical mass and ensuring trust and information security. That is, the success of these platforms requires creating a robust user base of people who want to lend or borrow all sorts of products. And the more the merrier; as more lenders start offering a wider variety of goods, that only serves to attract more people looking to take advantage of borrowing versus buying. A classic “virtuous circle.” At the same time, both sides of the transaction need peace of mind. Lenders are justifiably concerned about the possibility their possessions will be damaged or destroyed, or the borrower will be injured while using the item. And borrowers are equally concerned about their potential liabilities in the event of an inadvertent accident. Moreover, both parties want assurances that their personal data will be kept secure. This is where our innovative insurance solution comes into play.
Risk Consulting
Risk consultants providing comprehensive risk management solutions based on an understanding of client business priorities and goals.
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Coverage
Our Holistic and Integrated Coverage (HIC) policy concept has a liability coverage approach at its heart:
- It covers both the liabilities of the platform as well as the liabilities of the different parties involved in the transaction.
- Our insurance solutions are packaged with the core service of the platform. Coverage is provided as a mandatory part of every transaction on the platform to avoid negative risk selection.
- Coverage can only be triggered by a joint action of all transaction parties.
- The exact coverage is tailor-made and will be agreed with the client.
Benefits and Services
The business model of the Sharing Economy is all about being pioneering and inventive. Our underwriting capabilities, knowledge and tailored insurance approach are a perfect match for the requirements of this industry. Working closely with our clients, we can craft bespoke solutions that fit your business rationale perfectly. They are the key enabler for building trust and minimizing the financial exposure for borrows, lenders and users. Also, our global reach means we can support Sharing Economy companies that aim to establish viable platforms in multiple countries.
Let’s talk and develop a solution that meets the unique needs of your business.
Client Profiles
- Start-ups
- Entrepreneurs
- Existing businesses looking for growth and efficiencies in the online arena
