Friendsurance: Social risk sharing

“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.

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Sharing exogenous data will transform the Healthcare Industry

The explosion of data
If you think of what you can accomplish in 60 seconds, it is probably not much. But if you think of the amount of data that is created in these same 60 seconds, it is a whole different story. Google received over four million search queries per minute in 2015 and Facebook users share over 2,5 million pieces of content and like over four million posts (Gunelius 2014). Besides this, there are a whole bunch of other (online) things happening in this same one minute, which is graphically shown in figure 1.

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