Founded in 2010, Friendsurance operates an innovative peer-to-peer insurance model. The model rewards small groups of customers with a cashback bonus each year if their group remains claimless. Customers with the same insurance type form small groups, where a part of their premium is paid into a cash back pool. If no claims are submitted during the year, the group members get their cash back in the following January. In property insurance, the average cashback is 33 per cent of the original premium paid. Currently, the claims-free bonus is available for private liability, home contents and legal expenses insurance in Germany.

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