Besure is a peer-to-peer platform that provides a fresh take on self-insurance by empowering individuals within communities to protect the things that matter, together.

The rise of the sharing economy has disrupted many industries, including businesses such as Airbnb, Uber, and DogVacay. Now, the sharing economy is making headway in the insurance industry with peer-to-peer insurance, an innovative and affordable type of self-insurance.

Such peer to peer insurance platforms are being developed with the customer at the centre, and in doing this, they place tremendous focus on themes such as:

  • Empowerment
  • Transparency
  • Digitalization
  • Cost sensitivity

Successful Self-Insurance Thanks to Besure’s P2P Platform

Besure intends to provide a platform for people to self-insure by bringing together individuals with common interests and risks they want to protect to form risk-sharing pools. Whether it’s your snowboard, expensive instrument, or beloved pet, you have complete control over the process by participating directly in personalized self-insurance.

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How Self Insurance Works with Besure

Besure was created as a social safety net for people who have been left behind by the traditional insurance industry because such companies don’t have a product for them. With Besure, you can cover yourself for conceivably anything, from lost cell-phones to alien invasions.

How the business model works

Coverage of the community will be backed by the number of contributions in a specific pool. In addition, all pool members will be able to:

  • Agree on the risks protected
  • Have total control over their policy
  • Have their claims adjudicated fairly and quickly by other pool members
  • Contribute to risk coverage using the best actuarial practices.

If the community’s claims happen to exceed the amount in the pool, the claims will be paid proportionately from the pool.

How to join Besure

Besure’s aim is to make self-insurance as straightforward and simple as possible, and this includes joining the platform. To join Besure, all you have to do is:

  • Post a profile and photo of yourself on the platform.
  • Accept the platform’s terms of use, privacy policy, and bylaws.
  • Understand and follow the rules of conduct for members and the responsibility you will owe to your community member.
  • Search the platform for pools that are of interest to you, or create your own pool.

If you have a risk you want to share, all you have to do is provide the information to the Besure team, and Besure will calculate the number of people you will need in your pool, the contribution they will have to make, based on actuarial principles, to determine if your suggestion is viable.

Once the community has enough members, Besure will launch it and you can begin the journey of successful self-insurance.

Note: Once a pool is launched, community members will be locked for the coverage period. In addition, Besure charges the community fee an administrative fee that is 10% of the community pool.

Besure Ensures Transparency Every Step of the Way

At Besure, we pride ourselves on offering a flexible, honest, and transparent way to self insure.

Full transparency is facilitated in the following ways:

  • All pool members, through individual profiles and photographs, will be known to everyone in the community.
  • A community member who volunteers to be on the community court will have to strictly adhere to all of Besure’s values and their position will be noted on their profile.
  • Each pool will have a claims page that allows members to see what claims have been made, and which are pending.
  • All pools will also have an accounting page that allows members to see where every dollar is going.

At the end of the pool term: All funds that have not been used will be distributed to the community members who haven’t received money from the pool (those who haven’t made a claim and those whose claim was denied).

Transparent Insurance That Allows You to Live Life to the Fullest

If you want to begin your self insurance journey today, then Besure can help you protect the things that matter most to you, so you can live freely, creatively, and happily. To find out more, or to join a Besure pool today, contact us at 403-460-6961 or fill out our online contact form.

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Questions? Comments? Call us today at 403-768-3525 or fill out the form below


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