About Peer to Peer Insurance
Peer-to-peer insurance is a reciprocity insurance contract through the Collaborative consumption concept. The aims of peer-to-peer insurance are to save money through reduced overhead costs, increase transparency, reduce inefficiencies, and especially to reduce the inherent conflict between insurance carriers and their policyholders at the time of a claim. There are many types of peer-to-peer insurance. The first type was created by an Insurance broker (as opposed to insurance companies). In this broker model, insurance policyholders will form small groups online.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Peer to Peer Insurance market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Axieme (Italy), Bandboo (Singapore), Besurance (Canada), BitPark (United States), CommonEasy (Netherlands), Cycle Syndicate (United States), Darwinsurance (Italy), First Club Insurance (India), Friendsurance (United States), Gaggel (United Kingdom), goBundl (Denmark) and Guevara (Denmark) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Peer to Peer Insurance market by , Application (Consumer, Business, Real Estate and Others) and Region.
On the basis of geography, the market of Peer to Peer Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Platform, the sub-segment i.e. Commercial Platform will boost the Peer to Peer Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Mode of Operation, the sub-segment i.e. Online will boost the Peer to Peer Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Model, the sub-segment i.e. Broker will boost the Peer to Peer Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction of Technology in Insurance Industry
Market Growth Drivers:
Features Such as Convenient and Fast to Access
Challenges:
Insurance Regulatory Compliance
Restraints:
High Costs Associated with the Insurance
Opportunities:
Rising Investments in Insurance Company
Key Target Audience
Insurance company, Government associations, Research organizations, Software vendors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.