InsurTech Archives: Introducing the Third Wave of Peer-to-Peer Insurance

Peer-to-Peer Insurance has moved on a lot since 2010 and the Friendsurance distribution model. Whilst the insurance world waits to see what Lemonade and Besure bring to the market, Rick Huckstep looks at the emergence of the Third Wave of Peer-to-Peer Insurance; the self-governing model. Starting with Teambrella, the Russian InsurTech that uses Bitcoin to hold client money.

This article was first published in April 2016.

People-to-People Insurance

The jury may be out on the Peer-to-Peer Insurance model, but that hasn’t stopped the steady stream of new entrants who believe in fundamentally changing the dynamic between insured and insurer.

Back in December 2015, I wrote this article on P2P Insurance and featured two very different InsurTech startups in this space.

First, there was TongJuBao, a Chinese peer-to-peer insurer who provide social risk sharing insurance products. Last week, Tang Loaec, their founder/CEO sent me this announcement of a strategic partnership to distribute their products through Huaxia Finance across Greater China.

The second was Guevara, the UK motor insurer who were first to take the P2P model beyond a pure distribution play. I must give credit to Paul…