{"id":1374,"date":"2017-03-03T02:13:24","date_gmt":"2017-03-03T02:13:24","guid":{"rendered":"https:\/\/blogs.scu.edu\/finis\/?p=1374"},"modified":"2017-03-03T02:13:24","modified_gmt":"2017-03-03T02:13:24","slug":"p2p-insurance-industry-disruption","status":"publish","type":"post","link":"https:\/\/blogs.scu.edu\/finis\/2017\/03\/03\/p2p-insurance-industry-disruption\/","title":{"rendered":"P2P insurance industry disruption"},"content":{"rendered":"<p>P2P Insurance:<\/p>\n<p>Peer-to-peer, or P2P, insurers put customers into groups based on a shared factor, usually the type of policy. The group&#8217;s members pool all their premiums, and payment for insurance claims come from the pool. The aim of P2P\u00a0insurance is to make insurance cheaper and to reduce the inherent conflict between insurance carriers and policyholders at the time of a claim.<\/p>\n<p>3 \u00a0disruption factors which P2P insurance has:<\/p>\n<ul>\n<li><strong>Building Power:<\/strong> Big names in insurance are throwing their weight behind P2P\u00a0insurance startups like Lemonade. These new insurance companies in the fast-growing P2P segment are using crowdsourcing and social networking to create a shared insurance experience. More will follow their lead.<\/li>\n<li><strong>Rebel Customers:<\/strong> With P2P, peer groups, such as owners of autos, houses and small businesses, buddy\u00a0up to absorb each other\u2019s risks, with all\u00a0contributing money to insure each other\u2019s losses. The startups promise a pleasant, powerful\u00a0and even a little bit of rebel\u00a0experience.<\/li>\n<li><strong>Venture Capital:<\/strong> P2P startups have excited the venture capitalists by offering a technologically strong\u00a0alternative to the existing\u00a0insurance business model. By and large, their\u00a0management teams generally are comprised\u00a0of professionals\u00a0formerly in leadership capacities\u00a0with technology firms and insurance companies\u00a0&#8211; fueling the growing\u00a0category\u00a0of\u00a0InsurTech.<\/li>\n<\/ul>\n<p><strong>I surely feel P2P insurance is the way going forward. Crop insurance for farmers would be a very good application of P2P insurance. It would be a good solution for the farmers.<\/strong><\/p>\n<p>Reference:\u00a0http:\/\/www.consultparagon.com\/blog\/peer-to-peer-companies-are-disrupting-insurance<\/p>\n","protected":false},"excerpt":{"rendered":"<p>P2P Insurance: Peer-to-peer, or P2P, insurers put customers into groups based on a shared factor, usually the type of policy. The group&#8217;s members pool all their premiums, and payment for insurance claims come from the pool. The aim of P2P\u00a0insurance is to make insurance cheaper and to reduce the inherent conflict between insurance carriers and &hellip; <a href=\"https:\/\/blogs.scu.edu\/finis\/2017\/03\/03\/p2p-insurance-industry-disruption\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">P2P insurance industry disruption<\/span><\/a><\/p>\n","protected":false},"author":1837,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1374","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":0,"qubely_featured_image_url":null,"qubely_author":{"display_name":"mohitkudalkar","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/mohitkudalkar\/"},"qubely_comment":0,"qubely_category":"<a href=\"https:\/\/blogs.scu.edu\/finis\/category\/uncategorized\/\" rel=\"category tag\">Uncategorized<\/a>","qubely_excerpt":"P2P Insurance: Peer-to-peer, or P2P, insurers put customers into groups based on a shared factor, usually the type of policy. The group&#8217;s members pool all their premiums, and payment for insurance claims come from the pool. The aim of P2P\u00a0insurance is to make insurance cheaper and to reduce the inherent conflict between insurance carriers and&hellip;","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1837"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=1374"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1374\/revisions"}],"predecessor-version":[{"id":1375,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1374\/revisions\/1375"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=1374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=1374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=1374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}