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Insurance in the Sharing Economy

Sharing may be caring, but now it is also a booming economy. The sharing economy—otherwise known as collaborative consumption or the peer economy—is disrupting everything from transportation and lodging to errands and the exchange of goods. One of the latest areas to feel this disruption is the insurance industry with the peer-to-peer (P2P) insurance. What Is Peer-to-Peer Insurance? Insurtech, a fusion of new insurance models and technology, is the broader umbrella peer-to-peer insurance is sheltered under. Based on the success of fintech, insurtech looks to disrupt the conventional insurance industry in a host of ways. A handful of startup companies…