Gather provides P2P insurance for SMEs by creating business communities with the possibility of self-insuring

Country: USA

Year: 2014

Concept

  • Premiums are placed in a community pool that is made up of a group of businesses. The community collectively owns the insurance company that insures you and premiums paid stay within the community pool
  • This software allows customers to get back their money if the claim is denied and let the community have the full control of the claim process review
  • Gather collects a 5% membership fee

Consumer Benefits

  • Dividends: the money left (plus any interest earned) after paying claims for the community is paid back to the community itself. In this way, clients really pay for what they need
  • Cost efficient: Gather’s coverage starts at $25 a month. The price of coverage varies based on the business’ number of employee, industry, and type of coverage needed
  • Captive: with the technology Gather uses, the cost of creating a captive insurance company is lowered significantly, which allows small businesses to enjoy the benefits

How To Use

  • Users can easily get a quote in two minute or less on through the site
  • Users need to respond some questions and let the adviser provide the insurance they need
  • As we can read on their website, they are working tirelessly to get all the regulatory approvals
  • Gather is currently under development

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