What is peer-to-peer insurance?
IntroductionIn contrast to traditional insurance, peer-to-peer (P2P) insurance is a risk-sharing network in which a group of people pools their premiums to protect themselves against risk. Peer-to-Peer Insurance removes the inherent conflict that exists between a traditional insurer and a policyholder when the insurer keeps premiums that are not used to pay claims. In certain areas, peer-to-peer insurance is referred to as "social insurance." Without the assistance of a third party, policyhol...
What is peer-to-peer insurance?
IntroductionIn contrast to traditional insurance, peer-to-peer (P2P) insurance is a risk-sharing network in which a group of people pools their premiums to protect themselves against risk. Peer-to-Peer Insurance removes the inherent conflict that exists between a traditional insurer and a policyholder when the insurer keeps premiums that are not used to pay claims. In certain areas, peer-to-peer insurance is referred to as "social insurance." Without the assistance of a third party, policyhol...
