“Peer-to-peer (P2P) insurance platforms are a novel approach to the insurance industry that leverages technology to facilitate coverage among groups of individuals.

Risk Pooling

Members of the community pool their premiums to cover each other’s losses. This can lead to potentially lower costs compared to traditional insurance.


Platforms leverage technology to facilitate membership management, premium collection, and claims processing.

Smart Contracts: Some P2P platforms use blockchain and smart contracts to automate and ensure the transparency of claims payouts.

Social Pressure

The community aspect of P2P insurance can encourage members to behave responsibly, as their actions may affect the group’s premiums.

P2P insurance platforms aim to disrupt the traditional insurance industry by fostering trust, transparency, and community involvement. While they offer potential benefits, there are challenges to overcome, and their success often depends on factors like regulatory support and the ability to attract a critical mass of participants.

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