Construction engineering property co and xinmei life insurance peer-to-peer insurance created in 2010 by friendsurance in germany. Due to the high Denmark Phone Number rate of auto insurance fraud in germany. The cost of auto insurance in germany is very high. Which is unfair to honest consumers. Therefore, the founders of friendsurance built a website. Where acquaintances can form a group. To accumulate a portion of their Denmark Phone Number insurance premiums to form a cash pool. Each member of the circle still buys the same car. Insurance without changing the original car insurance product design. Small claims generated during the settlement cycle directly issued from. The capital pool, and claims beyond the pool still passed through traditional insurance companies.
Each Person Pays Denmark Phone Number
For example: 1,000 yuan, a total Denmark Phone Number of 10 people, and a total of 10,000 yuan fund pool established. If a generates a claim of 2,000 yuan, then the fund pool responsible for it; then b generates a 9,000 yuan claim, which exceeds the funds in the pool, and the excess 1,000 yuan will paid by traditional insurance companies. If the funds in Denmark Phone Number the pool not used up, they will returned to members or transferred to the pool for the next year. Friendsurance’s revenue comes from commissions on traditional auto insurance that members must purchase. The advantage of this is that the mutual aid group formed by acquaintance circles reduces false claims from the perspectives of crowd selection and mutual supervision.
Insurance Companies Indirectly Denmark Phone Number
Use social relationships to subdivide the risk Denmark Phone Number preferences of user groups. As a result, insurance companies can reduce premiums for low-risk mutual aid groups and increase premiums for high-risk groups. The emergence Denmark Phone Number of this form of insurance is mainly due to the penetration of social networks, just as lending club was a social app on facebook in the early days. In summary, the advantages of mutual insurance include: use social networks to acquire customers cheaply and reduce marketing costs; use natural social circles to acquire users with the same risk characteristics; use social to reduce fraud, underwriting, claims, and more.