Prince Insure is an early stage InsurTech startup which is pioneering a Professional to Professional Insurance Platform, based on the peer to peer insurance concept. Its aim is to change the way professionals interact with their professional insurance & build social communities where they can engage with their peers/colleagues for the purposes of professional indemnity insurance.
Prince Insure basically wants to transform professional insurance from a grudge purchase to a valuable asset and cater tocustomers’ overall dissatisfaction with the insurance process.
With Prince Insure’s Pro2Pro insurance platform, users can apply, quote, buy and renew their professional insurance ultimately enabling them to save time and premium (low cost insurance model engineered to keep premiums low) along with helping them make money as all profits will be finally paid back to the community rather than the insurance company. Keeping transparency and engagement in mind, Prince Insure will also let Professional Insurance Communities (PIC) see in real time how their insurance portfolio is performing from a claims, expense and profit point of view.
All these functions will be on the digital insurance platform that can be accessed through the Prince App which will also store all the insurance documents securely helping to avoid cumbersome paperwork.
Prince is initially offering professional liability insurance and will ultimately target 640+ million professionals worldwide whilst charging 10% as commission from each claim made through the PrinceInsure platform.