From his time working on a sharing economy report for the Swedish Ministry of Finance, Ola knew that traditional insurance providers tended to underestimate the long-term impact of the sharing economy. But with consumer behavior patterns changing fast, Ola was convinced of the need for solid insurance products on Peer to Peer Partnerships and resale platforms.
In Sweden in particular the need seemed clear: the country is already practically cashless, environmental awareness is high as is interpersonal trust, while Swedes are also quick to adopt new technologies.
The circular economy is here to stay. Who’s going to insure it?
Instead of building systems and processes from scratch, Omocom partnered with the insurance companies and now acts as an intermediary between insurance and sharing economy platforms. Having hired leaders from companies like the Swedish FinTech unicorn Klarna, Omocom was quickly able to replicate the simplicity of FinTech products in the insurance industry.