- Reinsurance: an insurance company could create a reinsurance kit for small amounts targeting P2P insurance platforms.
- Limited potential: the fact that businesses need to group together and create their insurance seems to limit the potential of this kind of offers.
- Zero is developing a platform so that businesses of the same sector can create their own insurance pools to get covered. The platform is not live yet.
- The primary objective of the platform seems to maximize safety management at the company level while controlling costs, through prevention, information and insurance.
- Users can file claims on the Zero app: as claims are managed by the captive, it ensures that they are qualified, paid out on time and keep the business running.
- The claims feed allows users to see how their group is fairing with accidents and safety. They can also see how they compare to others in their sector.
- The captive insurance company can work directly with reinsurers to handle the risks beyond its initial scope.
- Similar risks: business being from the same sector, risks are similar and sharing safety information brings value to the group.
- Customization: users define the insurance features and their risk tolerance.
- Transparency: users can view the activity of other businesses, including claims and ensure that the latter are qualified and managed on time.
How to use
- Users download the app, register and start an inquiry.
- Once they get to a target amount of premium, they can begin forming their own collective.
- No more information currently available since Zero is still at an early development level.