Baloise secured second place at yesterday’s 2021 Swiss Insurance Innovation Awards, once again being recognised as one of Switzerland’s most innovative insurance companies. It sealed victory with the Inshareance project. “I am very proud that our employees have been singled out for their exceptional innovativeness and that Baloise has again been named as one of the most innovative Swiss insurers,” said Michael Müller, CEO of Baloise Switzerland.
Inshareance is an insurance solution tailored to sharing models, which are becoming increasingly popular. Sharing platforms enable the shared use of goods, which comes with its own specific set of claims risks. To insure these risks, Baloise has designed the Inshareance modular product for digital sharing platforms. It is based on low premiums and the ability to take out policies in real time using Baloise’s API. The Inshareance solution was developed in close collaboration with technology partner KASKO and Touring Club Suisse. It has already enabled several sharing firms – such as MyCamper – to establish a comprehensive insurance service. “We are delighted that Inshareance has won an innovation award,” said Philipp Marty, Head of New Business Lines & Partnerships. “It is our belief that Inshareance represents the first step in adequately catering to the changing insurance needs of the sharing economy.”