Peer to Peer (P2P) insurance companies aim to make insurance more affordable and transparent by cutting out some of the bureaucracy found in traditional insurance companies. Find out more about the P2P insurance model and how it came about.

Peer to Peer (P2P) lending has been all the rage in the world of borrowing and investing for several years, and now this movement has begun to revolutionize the insurance industry by aiming to give consumers more affordable and transparent protection.

Some of the reasons why consumers love P2P insurance include:

  • There is less likelihood of insurance fraud because you are in a pool with family members and friends.
  • Consumers enjoy lower premiums due to the lower overhead costs of P2P insurance companies.
  • All leftover funds are returned to members at the end of the policy period.

Enjoy the Benefits of P2P Insurance Today!

As the first of its kind in North America, Besure offers consumers an innovative, transparent, and effective way to self insure. By joining a pool with friends, family members, or like-minded individuals who value the same things you do, you can begin to successfully self-insure and protect the things that matter most to you.

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HOW BESURE WORKS

 

What Exactly is P2P Insurance?

P2P Insurance is a risk-sharing network where a group of like-minded individuals, be it family members, friends, or peers, pool together their money to ensure against a certain risk be it the loss of a cellphone or a sick pet.

Unlike with traditional insurance model, where a large group of individuals with varying risks are covered under the same plan, P2P allows you to select your insurance pool, greatly reducing your costs and the likelihood of fraud.

How does Besure give you more control over your insurance?

This peer to peer platform puts you in total control of the insurance process by allowing you, along with your pool members, to determine:

  • What you want to protect (eg. your musical instrument, gadgets, or home)
  • The terms of your policy
  • How much each member should contribute to the pool
  • Whether or not a pool member’s claim should be paid

By minimizing the role of the insurer and giving power back to the consumer, P2P insurance companies such as Besure reduce the bureaucracy and frustration often involved in the insurance process.

Taking Insurance Back to Its Roots: Where Did P2P Insurance Come From?

While the P2P insurance concept may seem like a new idea, it is actually based on an age-old concept, bourne hundreds of years ago when communities would come together to help each other out in times of need. 

Peer to peer insurance companies such as Besure simply seeks to restore this mutual support system and provide a convenient platform for family members, friends, and like-minded individuals to gather their resources and protect themselves against a shared risk.

However, it is revolutionary in the way that it is impacting the insurance industry. By tapping into the shared economy, Besure offers consumers an alternative that allows them to achieve lower insurance rates and a more transparent, affordable process. 

In fact, P2P companies have many benefits over traditional insurance companies, including:

  • Individuals are able to enjoy complete control over the insurance process.
  • It doesn’t require traditional intermediaries (eg. insurance companies) who don’t have your best interests at heart.
  • It gives individuals back a refund if there is any money left at the end of the coverage period.
  • The claims process is more transparent, efficient, and effective.
  • There is less likelihood of fraud.
  • Pool members not only receive financial support but advice and emotional support as well during times of difficulty.

BENEFITS OF JOINING THE BESURE COMMUNITY

 

Join Today

Are you tired of the bureaucracy and opaque processes of traditional insurance companies? Besure offers you a transparent, straight-forward, and convenient way to self-insure and protect yourself against life’s setbacks. To find out more, contact us at 403-460-6961 or fill out our online contact form.

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