The Sharing Economy: A new social trend has arisen in the last few years, especially in the High Net Worth/Affluent space, of sharing and borrowing, instead of owning, and the concept of “collaborative consumption.” Since this is a fairly new social norm, it is hard to predict future outcomes and impacts, and makes it a grey area in the insurance space, and the ease of accessibility allows clients to unknowingly put themselves at risk.
What is the sharing economy?
Different ways affluent clients are sharing their assets
What’s the risk? (Claims examples)
Is it a personal or commercial exposure? How do you insure it and protect the client?