Start-ups in the sharing economy are attracting major investors who believe in their business model. There is, however, one area in which they have not been able to gain traction — insurance, as few large insurers have embraced or have even begun to explore this market.
Some innovative start-ups are experimenting with different insurance models. But can insurance companies make a reasonable profit from this space, and if so, how will they adapt their offers and their premiums to tackle the challenges?
Insurers may have an opportunity to lead innovation in the sharing economy, particularly in the car-sharing market, not only by meeting evolving consumer demands, but also by gaining first-mover advantage in the process.
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