The Broker model for peer-to-peer insurance : an analysis of its value

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      <subfield code="a">Clemente, Gian Paolo </subfield>
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      <subfield code="c">Gian Paolo Clemente, Pierpaolo Marano</subfield>
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      <subfield code="a">The increasing role of technology is generating new challenges in fostering innovative ínsurance products and in offering new means of dístribution for existing products. Herein, we focus on peer-to-peer ínsurance, where technology is used to connect polícyholders and the insurance structure recalls its roots based on organised mutual solidaríty. The aim is to highlight strengths and weaknesses of the broker model of peer-to-peer insurance. We address the main legal and regulatory issues by referring to European Union regulation on insurance and we develop an actuarial model to support our conclusions and evaluate the convenience of such a business model for policyholders. Although peer-to-peer insurance was created as a fairer alternative to the pool of traditional insurance companies, we see major challenges that need to be solved. The evidence sheds doubt on the convenience of the broker model for peer-to-peer insurance while the regulatory risks seem, paradoxically, certain.</subfield>
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