Peer-to-peer companies set their sights on disrupting a word industry

A identical complement was set adult by a Berlin fintech association called Friendsurance. At a finish of any year, process holders regulating Friendsurance accept a cash-back reward if they did not make a claim.

The company, that launched in 2010 and started charity policies in 2011, says process holders can get behind adult to 40 percent of their premiums if they sojourn claims-free.

Other peer-to-peer word providers have emerged in new months. For instance, Teambrella, combined by a organisation of Russian program developers, will concede users to effectively emanate and control their possess word policy.

Users will join “teams” and make contributions to a community account regulating bitcoin. When someone in a group needs to make an word claim, they will yield justification to a other members of a team, who will afterwards opinion on either or not to make a reimbursement.

“Peers control around voting any and each preference and are giveaway to now nominee their votes to other peers, formulating bondage of trust. As prolonged as there is no executive money-handling party, each remuneration remuneration to a counterpart is, in fact, a remuneration of premiums from other peers,” Teambrella’s creators explained in a white paper. “Though a sum volume of premiums is not fixed, peers have full control over their spending.”

Teambrella skeleton to recover a beta chronicle of a height after this year.

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