Without the protection of insurance, few people would be willing to let strangers use what belongs to them.

Consider this scenario: the owner of a car rents it out to a user. If there is an accident when the user is driving the car, who pays for the damage - the owner or the driver? Traditional insurance may not be the answer here.

An example of a suitable solution comes from Allianz's special auto insurance contract for Drivy, a car-sharing platform. When the car is rented out, it is not the owner's insurance that covers the driver but Drivy's insurance. This way, both the owner and the driver can avoid problems if there is an accident.

Such specific insurances cater to the specialized needs of the sharing economy, protecting both the provider and the user of a product or service.

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Allianz SE published this content on 17 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2019 10:13:04 UTC