Insurtech Guardhog unveils new blockchain-powered cover for homesharing economy
Insurtech Guardhog, a homesharing insurance specialist, has launched a new blockchain-powered deposit cover designed to address the particular needs of sharing economy.
Guardhog works with about 300 sharing economy partners including Airbnb, Home Exchange, and TrustedHousesitters, and believes that its new product will make the entire renting process more efficient and transparent for both hosts and guests.
The new blockchain-driven cover provides an alternative to the current deposit-holding system.
"We’re determined to help hosts be in control, take bookings efficiently and for guests to feel they can easily put up their hands up to fess up when an accident has happened," said Humphrey Bowles, co-founder of Guardhog. "We believe this new approach to deposits will help speed things up on both sides as well as allow a much more open, transparent and hassle-free transaction for all involved."
Will Parry, COO at Altido, a London based prop-tech platform, said: "Taking a meaningful deposit from a guest is important but hard. The regulations around handling a traditional deposit are complicated, involve payment processing fees and guests can be put off by forking out a lump sum which dwarves the cost of their stay per night, while resolving host / guest disagreements quickly gets messy and petty. This new approach from Guardhog has completely revolutionised how Altido approaches taking deposits for the benefit of us and our users."
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
More of today's news
Tokio Marine snaps up Australian underwriting agency from IAG
Lloyd's unveils new tool to improve insurance contracts, reduce claims costs
German insurer bids for Brazilian firm’s auto and P&C portfolio
Two Carribean governments take up ‘pioneering’ parametric fisheries insurance
Ridgecrest in California hit by 6.4 magnitude earthquake: CEA
Save £600 with the Intelligent InsurTECH Europe Super Early-Bird rate: Book now
