Funding
Funding not disclosed
Founders
Product
Problem
Traditional vehicle insurance may not adequately cater to the specific needs and risk profiles of vehicles used in the point-to-point transportation industry. Standard insurance models often prioritize profit over customer needs, potentially leading to higher premiums and less tailored coverage for this sector.
Solution
P2P Cover provides a customer-centric alternative to traditional insurance by operating as a discretionary mutual fund, offering risk protection specifically designed for vehicles in the point-to-point industry. Through a peer-to-peer mutual model, members collectively share and mitigate risks, allowing for tailored coverage at a fair price. This approach prioritizes protection over profit, ensuring that the unique requirements of drivers and vehicle owners in the point-to-point sector are met with flexible and community-based coverage options. Members are entitled to have their claims for discretionary cover benefits considered.
Target Audience
The primary target audience consists of vehicle owners and drivers operating in the point-to-point transportation industry seeking alternatives to traditional insurance with tailored coverage and community-based risk sharing.
Features
- Comprehensive Cover: Covers damage to the insured vehicle and damage the vehicle may cause to other vehicles and property.
- Third Party Property Damage Cover: Covers damage the insured vehicle may cause to other vehicles and property.
- Personal Accident Cover: Provides financial protection in the event of injury while working, including compensation for medical expenses, lost wages, and rehabilitation.
- Public Liability Cover: Protects against legal liability to passengers and members of the public for losses caused by the operation of the business.
- Online claims lodgement.