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Peer-to-Peer webinar recording – Poll overwhelmingly concludes that P2P will have an impact on attitudes to claims

Our February 2017 webinar had about 670 registrations from around the globe.  This was our ninth webinar as part of our Digital Insurance in Action series, sponsored by KPMG.  If you missed it, you can listen to the recording below.

 

View the slides here.

We had 3 excellent speakers on our global panel of insurance professionals to discuss Peer-to-Peer Insurance & Community:

  1. Tim Kunde, Co-founder & managing director from Friendsurance explored how P2P insurance is becoming a market standard.
  2. Steven Mendel, CEO & Co-founder from Bought By Many explained the Bought by Many model of building insurance communities.
  3. Tang LoaecFounder & CEO from P2P Protect spoke about collaborative risk sharing in P2P.

Poll Results

The webinar concluded with a snap poll to participants who were asked the following question:

Will P2P Insurance change customer behaviour and attitudes to claims?

The results, show that the overwhelming majority feel that P2P insurance will have some sort of an impact on customer behaviour and claims – 85 per cent of respondents felt that it would have an impact.  The magnitude of impact was less conclusive, with over a third of respondents predicting a significant impact to loss ratios; whereas a further 47 per cent felt that there will only be a marginal impact i.e. < 5%.  Only 15 percent of respondents felt that there would be no impact or that the jury’s out on the impact. 

  • The majority of respondents (47.7 per cent) feel that P2P insurance will have a marginal impact (<5%) on customer behaviour and claims;
    • 37.6 per cent feel it will significantly improve loss ratios (>15%);
    • 5.5 per cent feel that it will have no impact and it will be business as usual;
    • 9.2 per cent feel that the jury’s out

 

Other events

Our next webinar will be held on 29th March 2017 on the theme of “AI & Machine Learning”. More details here.

You can also access and listen to all of our webinars that we have held to date here.

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