Inshareance Qorus Innovation in Insurance Awards 2021 - Winner

Sharing models are popping up everywhere, whether it is car sharing, camper sharing or clothes sharing. The idea is always very simple: A platform provider wants to engage owners of certain goods to rent out the object of desire they currently don’t need to a wider audience for a short time. Thus, it is a pure win-win-win case: The owner makes some extra money by renting out his object, the renter just pays for the time used and the platform owner earns a commission fee for matching owners and renters. In reality it is – unfortunately – not always that easy. What happens if the goods are returned damaged? What if the renter causes a car accident with a shared car? What if I don’t even want to rent out my camper as I have a high end interior and I am afraid of getting it back damaged without being able to hold the renter liable? As an insurer managing risks is in our DNA. So we thought about all deal breakers and launched a modular set of insurance solutions that cover these risks. The key to it all was to create a fully digitized solution with small premiums and real time interfaces to our claims department. Accordingly, this solution helped several sharing platforms to put their business on a trustful foundation. Successful cases are mycamper, myoldtimer, 2em.ch share that wear, drivemycar, edrive carsharing, to name a few. The first implementation has been done with mycamper, which is also a core aspect of this innovation project submission.