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P2P Insurance

Peer-to-peer insurance, or P2P, is a model designed for individuals, particularly car owners, who rent out their personally comprehensively insured cars to customers. In this scenario, Wahdah collaborates with Allianz to facilitate the implementation of this peer-to-peer insurance model for car owners.

Here's an overview of how it generally operates:

P2P insurance serves as an add-on to the extra coverage provided by Allianz insurance, and it's important to note that the No Claim Discount (NCD) discount doesn't affect its pricing. Additionally, the coverage does not carry forward to the next year if no claims are made.

Benefits of P2P Insurance:

  1. Initiative and Purpose: P2P insurance is initiated as part of the Proof of Concept (POC) program in collaboration with APAD. This program aims to study and gather data on car rental services involving personal cars for rental. It addresses potential issues related to accident claims, ensuring that claims are approved even if the accident is caused by the customers.

Please be aware that the specifics of the collaboration between Wahdah and Allianz would be contingent on the terms of their partnership and the features they opt to include in their peer-to-peer insurance offering.

J
Jalal
on 13/12/2023
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