Peer-to-Peer Insurance – Innovation, Revolution or Return to the Roots?
Peer-to-Peer Insurance – Innovation, Revolution or Return to the Roots?

Summary/Abstract: Fourth industrial revolution is based on technological advancements, which diametrically change conditions of conducting modern business. The changes are driven not only by new technologies, but also easier Internet access, which creates enormous possibilities for development of innovations, also in insurance industry. One of the modern concepts, which came into being due to development of internet platforms, is so called peer-to-peer insurance. The aim of this work is to identify of development of the phenomenon called peer-to-peer insurance, which is new and still not well recognized in the literature. The main research method is the study of the literature as well as analysis of source materials such as reports and information available on web portals. The research shows that creation of so called peer-to-peer insurance was supported by development of new technologies. They were the result of social changes in which sharing economy fit in, and the belief that formation of peer-to-peer insurance community which would satisfy insurance needs of its members could be more effective than traditional insurance market. However, this innovative insurance model is based on principles relating to an original idea of mutual insurance companies such: as solidarity, reciprocity, prudence and non-commercial nature.

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