The concept of peer-to-peer insurance is one of the year’s most talked-about topics and many predict it will revolutionise the risk transfer industry. Intelligent Insurer asks where it really stands in the scheme of ‘disruptive’ technologies.
When a respected industry veteran who spent 20 years developing new products at American International Group (AIG) says something is the most exciting thing he has seen in his career, people tend to take note and listen.
Ty Sagalow, the former president of product development at AIG has said his new venture that will develop peer-to-peer insurance products is the most exciting thing he has been involved with in a 20-year career focused on innovation in the insurance industry.
Earlier this year, Sagalow was appointed as chief insurance officer of Lemonade, a New York start-up founded by tech entrepreneurs Daniel Schreiber and Shai Wininger that has already raised $13 million from private equity firms including Sequoia Capital.
Peer-to-peer insurance, Ty Sagalow, American International Group, AIG, Insurance, Lemonade, Global