Sign up and be the first to know

About Hugh Terry & The Digital Insurer

Hugh Terry & The Digital Insurer Video

Contact Us

1 Scotts Road
#24-10 Shaw Centre
Singapore 228208

Write an article

Get in touch with the editor Martin Kornacki

email your ideas at martin.kornacki@the-digital-insurer.com

Pre Registration Popup

itcasia2020 Registration Popup

Share Popup

Prime Member: Find out more

Access a unique programme!
  • 56 pre recorded lesson of online content from industry experts over 7 courses
  • The best in digital insurance for practitioners and by practtioners
  • Online MCQ after each lesson
  • Join the discussion forum and make new friends
  • Certificate upon completion to show your expertise and comitment
  • 3 months to complete
  • Normal price US$1,400 Your Prime member price is US$999
  • Access to future versions included in your Prime membership!
Become a member

Prime Member: Contact Us

REach out to us. Please fill up the form below
  • Let us know how we can help. You can expect a response within 24 hours

Guevara Peer To Peer Car Insurance

[ff_author_box_style2]

In Action Summary

Guevara takes a fresh approach to car insuranceby allowing customersto pool their premiums in order to lower the collective premium and refundand excess premiums to the group

Guevara takes a fresh approach to car insurance by allowing customers to pool their premiums in order to lower the collective premium and refund excess premiums to the group

In 2014, Guevara, a UK based P2P insurance startup  introduced the first iteration of their platform for the UK’s £15 billion car insurance market. Specifically, Guevara takes a fresh approach to car insurance by allowing customers to pool their premiums in order to lower the collective premium and then refund unclaimed capital to the group. Since 2015, 90% of Guevara’s users have been able to lower their premiums.
There are two ways to choose a Guevara P2P pool; you can either be invited by a friend or family member or Guevara will suggest the most relevant pool for you based on your risk profile and location. Guevara then tries to encourage friends and family to join mutual groups which further encourages the P2P functionality and lowers premiums through reducing the incentive to claim.
Guevara also has an app that it uses to collect data from the scene of an accident and groups also have a message board to discuss their claims and make decisions collaboratively.
According to Guevara founder Kim Miller, “The safer the group drives, the less they claim, the more they save … you pay based on your actions rather than statistics. You could call it carmunism”.

Ultimately, Guevara is helping to pioneer the P2P insurance movement in the UK alongside Friendsurance in Germany and Tongjubao in China.

References

Comments

';

Livefest 2019 Register Popup Event

Livefest 2019 Already Registered Popup Event

Livefest 2019 Join Live Logged-in Not Registered

Livefest 2019 Join Live Not Logged-in