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Insurtech Australia member Friendsurance launches insurance for bicycle riders

August 30th, 2017 Posted by Community, Members, News 0 thoughts on “Insurtech Australia member Friendsurance launches insurance for bicycle riders”

Fuelled by a $5.5 million investment from James Packer-backed Ellerston Capital, the local arm of German peer-to-peer insurer Friendsurance wants to change the way Australians get insurance. It starts with protecting the humble bicycle.

Friendsurance, headquartered in Berlin and founded in 2010, has gained attention for being the world’s first P2P insurer. The model organises individuals into groups of 10, that cross insure each other – if there are no claims, up to 40 per cent of the premium is refunded.

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