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Consulting firm AT Kearney says the IoT will "disrupt traditional insurance models, while opening new frontiers for growth" – a common enough mantra for businesses exploiting new technologies.
Insurtech such as Friendsurance, Guevara and stealth Sequoia-backed Lemonade are banging big on P2P insurance models.
As a close variant of models long used for insurance risk, it retains the analytical tractability for which the insurance models were designed.
Most insurance models are concerned with potential losses to buildings but some models also consider, for example, potential losses to infrastructure, agriculture, business interruption or workers' compensation policies.
Also commenting on the law review in a statement, Rob Wallis, CEO of TRL, the company behind the GATEway project, said: "Regulation, safety standards and vehicle insurance models all have a key part to play in enabling change, whilst giving society confidence that these new products and services can be introduced safely".
Additionally, a significant number of persons in Switzerland choose alternative health insurance models.
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In this context, we propose an actuarial insurance model to insure multiple natural hazards (windthrow, fire, insect outbreak) in forests that determine the insurance premium in different senarios.
The idea is that Sherpa flips the insurance model on its head, insuring people, not products.
On the other hand, a competitive insurance model with selective contracting of health care providers by health insurers and flexible pricing of health services is offered too.
"The insurance model is fundamentally changing," he said.
Of the three funding options, I would favour the insurance model.
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