Inspeer launches the 1st peer-to-peer insurance service in France
Inspeer launches the 1st peer-to-peer Insurance Service in France.
InsPeer launches an innovative, web-based service enabling users to save money and avoid cash-flow problems without changing their insurance contracts. Insurance 2.0 is here and it is simple, useful and collaborative.
Open to all since February 2015, the InsPeer website helps users share risk with their friends and family members by contributing to their deductibles for car, bike or housing insurance contracts, and asking the same in return.
In an insurance policy, the deductible is the amount of expenses that must be paid out of pocket in case of a claim before an insurer will pay any expenses, and it can add up to several hundred Euros. Generally, the higher the deductible, the lower the premium paid.
The InsPeer system is very easy to use and doesn’t require any changes to the user’s existing insurance contracts. As a user, I can choose the people with whom I wish to mutualize my deductible and, for every one of them, I can set an amount of mutual contribution in case of a claim. If I have a claim, I declare it to my insurers and upload the confirmation letter to InsPeer, who then collects the money for me among my partners. I can then easily transfer the money to my own account.
The service is completely free if there are no claims. In the case of a claim, InsPeer keeps a small percentage of the claim paid by the insurer. InsPeer allows clients to get full insurance coverage by leveraging a responsible and solidary community.
What’s more, InsPeer uses a proprietary method to help users better understand the likelihood of having a claim, and allows clients to decrease their insurance cost by increasing their deductible. For some, it could enable to subscribe damage insurance out of their budget so far. The service is for the moment opened to French resident only. Please tell us if you would like this concept to be implemented in your country !