“Don’t underestimate what people are willing to do to save money.” (Kunde, 2012)
These are the words by Tim Kunde, the co-founder of Friendsurance, the first insurance company to break the traditional mindset and pave the way into a social, peer-to-peer insurance sector. The past few sessions of the course have highlighted the growing importance of the customer for the creation of value and pointed towards the innovative business model called the “sharing economy”. From Zipcar to Find-A-Desk, various examples have been outlined to illustrate that this approach has spread into countless customer-centric business areas. Yet, most insurance companies have been hesitant in adopting this business model.