Friendsurance Launches First P2P Bike Insurance in Australia


Berlin-based Friendsurance has launched its P2P bike insurance in Australia . By P2P, think: a cash back scheme. “We wanted to create a bike insurance product that had the unique Friendsurance Cashback but also looked more like a comprehensive car insurance policy”  – CEO and managing director of Friendsurance Australia Perry Abbott.


This is Friendsurance Australia:


Who is the insurer? “The Policy is underwritten by certain Underwriters at Lloyd’s, whose definitive numbers and the proportions underwritten by them, will be supplied on application.” No, really, it says so here: BikeProductDisclosureStatement.


Bottom Line: the first Aussie P2P scheme, now that Prince is showing signs of “it’s time to give up.”