Friendsurance – The pioneer startup for P2P Insurance

Country: Germany
Year: 2010


  • By transforming the traditional insurance methodology, Friendsurance assists customers who were claims-free to benefit more from their premiums paid.
  • It rewards small groups of customers with a cash back bonus at the end of each year they remain claimless.
  • The peer-to-peer insurance model taps on the concept of group performance of the customers.

Consumer Benefits

  • Participants in peer-to-peer insurance have more control and freedom over their coverages.
  • It allows peers to form their own risk pools for deductible coverage online.
  • Peers can make decisions about the proceeds of the pool and also to adjudicate their pool’s claims. These initiatives and decisions were traditionally made by the insurance carrier.
  • Consequently, Friendsurance delivers cheaper insurance to customers by having an innovative peer-to-peer method.

How To Use

  • Customers can connect online and create their own insurance pool.
  • Small claims are paid out of this pool, with bigger claims covered by traditional insurance.
  • If the claims do not exceed the pool, the money is returned to the customers.
  • Customers never pay more than their original premium.
  • The more friends in the pool and the fewer the claims, means the more you save.


PHP Code Snippets Powered By :
Scroll to Top