Lloyd-共享风险，共享回报：谁在共享经济中承担风险？（英文版）-2018-23页-3mb

Summary: Sharing Risks, Sharing Rewards – Who Should Bear the Risk in the Sharing Economy?

Core Content

The sharing economy, driven by technology, has transformed how individuals share assets and services, creating new business models and opportunities. However, it also introduces complex risk management challenges, particularly around trust, liability, and the role of insurance. This report explores the expectations and perceptions of consumers, service providers, and sharing platforms regarding risk and insurance in the sharing economy, highlighting the need for a tailored approach to insurance that aligns with the unique nature of these platforms.

Main Points

• The Sharing Economy Overview:
  The sharing economy allows individuals to share assets or services, often through digital platforms, offering convenience, affordability, and flexibility. It has grown from a $15 billion market in 2014 to an expected $335 billion by 2025. Companies like Airbnb, Deliveroo, and Mobike are prime examples of this model, which spans peer-to-peer, business-to-business, and business-to-crowd formats.

• Risk Management Challenges:
  The sharing economy involves multiple parties (consumer, provider, platform), which complicates traditional risk attribution. Risks include personal safety, asset damage, theft, and unclear liability. Consumers often expect platforms to manage these risks, but the legal and insurance frameworks are not always aligned with this expectation.

• Insurance as a Critical Component:
  Insurance is seen as a key enabler for growth in the sharing economy. The report highlights that 71% of consumers globally are more likely to use sharing economy services if insurance is offered, and 70% are more likely to share or offer a service if protected by insurance. Additionally, 78% of current providers believe insurance could increase their customer base.

• Consumer Expectations and Behavior:

  • 97% of consumers believe some form of insurance protection is available for them and providers in case of an issue.
  • However, only 28% look in detail to ensure specific coverage for the service they use.
  • 53% of consumers expect the platform to provide insurance, while 53% of platforms believe the consumer should bear the risk, and 27% think the provider should.

• Regional Differences:

  • Chinese consumers are more engaged with the sharing economy, both as users and providers, and perceive greater benefits than risks (68%).
  • US and UK consumers are more risk-averse, with 58% believing the risks outweigh the benefits.

• Regulatory and Legal Complexities:
  The regulatory landscape for the sharing economy is often outdated and inconsistent across regions. This creates uncertainty for both platforms and insurers. For example, Uber faced fines in 2012 for lacking proper insurance coverage, highlighting the legal risks for platforms that operate in unregulated or poorly defined environments.

• Insurance's Role in Building Trust:
  Trust is a foundational element of the sharing economy, with 89% of consumers citing trust between providers and users as central to the model. Insurance can help build this trust by offering clarity on risk coverage and responsibilities, thus reducing perceived barriers to participation.

Key Findings

• Untapped Market:
  Only 16% of surveyed consumers globally have shared a product or service, indicating a significant opportunity for growth.

• Expectation Gap:
  There is a notable discrepancy between what consumers expect (platform responsibility) and what platforms believe (consumer or provider responsibility). This gap can lead to potential exposure if consumers assume coverage without verifying it.

• Risks Identified:

  • Personal safety (52%)
  • Quality of service (42%)
  • Asset damage (42%)
  • Theft (40%)
  • Lack of safeguards (38%)

• Benefits Recognized:
  Consumers acknowledge the benefits of sharing economy services, such as affordability, convenience, and the ability to earn extra income.

Conclusion

The report underscores the importance of insurance in fostering trust and enabling the growth of the sharing economy. By addressing the perception gap and providing tailored insurance solutions, platforms can better manage risks, enhance consumer confidence, and unlock new market opportunities. Lloyd's, as a specialist insurance market, is positioned to offer innovative insurance products that align with the evolving needs of the sharing economy.