Use the power of your social network to lower the cost of insurance.
VouchForMe can help.
VouchForMe is an online social proof platform for gathering guarantees that cuts your insurance premium costs.
is a psychological phenomenon in which people are influenced in their decisions and actions by mirroring other people or social groups.
Family and friends show their trust with a financial commitment that is triggered only in case of an insurance claim. The group backing is social proof and insurance company rewards you by lower premium.
The higher the risk and commitment from you and your friends or family, the lower your cost of insurance. In a system based on sharing, the key component is group trust.
In case of a claim, the deductible will be split proportionally between members of the group who trusts you and one another. But only up to the set amount they guaranteed for, with no hidden fees or additional risk.
VouchForMe is an online tool where family and friends can show they trust each other. That is why everyone will pay less for insurance. Simple as that.
VouchForMe identifies responsible individuals from those who just don’t care. An effective, reliable and cost-effective segmentation and risk assessment tool.
Social proof is the best example of a self-regulated society. VouchForMe promotes responsible behaviour that is built on trust in groups of friends and family.
It’s certainly different from what the majority of insurance companies are doing at the moment. The idea that you can reduce your premiums in any way is a good thing, especially if you look at my age group. As a young male driver, I tend to have much higher premiums as being in the high-risk group, so definitely to be able to get this premium down is a great thing. I think that for the people of my demographic it would be quite an attractive idea because we tend to have quite big social groups, friends who I might vouch for and they vouch back and you both get reduced premiums because of that.
I think it’s a brilliant idea especially for parents who want to insure their children because buying a car is already expensive. I think the idea really appeals to mums, dads, grandparents for new drivers. It’s a great opportunity to show how someone is trustworthy by having people vouch for them. I think it would be a huge success with families and VouchForMe is something I will 100% sure look into for my girl when the day will come. Nowadays, you can get a cheap car but the insurance that always bumps up prices.
05.08.2020
There are many ways to save money on your car insurance. Shopping around, installing a black box, and adding a parent to your policy all help young drivers get their insurance down. However, the best way to save in the long term is to avoid accidents.
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29.07.2020
Income protection is an excellent option for anyone looking to protect their way of life, and if you don’t have it, it’s time you started thinking about it. The question is: traditional or P2P options?
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16.07.2020
Social and telematics don’t need to be rivals; in some cases, they can work together, leading to fewer claims, lower insurance costs for good drivers and safer roads for society. Here’s an example of how this could work using VouchForMe for professional drivers.
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08.07.2020
The year is over halfway through, but due to COVID-19, the insurance industry, like all others, has had to adapt. In this blog post we compared our insurance trends from the begining of the year, with trends due to Corona.
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01.07.2020
If you’ve ever thought about how your family will support themselves if you’re injured, unable to work, or pass away, you’ve probably considered some form of protection insurance. The most common policies are life insurance, income protection, and critical illness cover. Each policy is different, but which one is right for you?
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24.06.2020
2020 is halfway through, and to say it’s been challenging would be an understatement. In many countries, life has looked very different for several months now. It’s been challenging for VouchForMe too, as we made the switch from a busy office to a remote team temporarily. Luckily that didn’t stop us, as we’ve already done so much this year. So let’s look back together.
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18.06.2020
We launched our new income protection product, Fond, which is available now in Slovenia, and we’re hoping to bring it worldwide soon. Fond continues to cover you even when illness or injury puts you out of work for an extended period. So you can maintain your way of life and get better without financial stress forcing you back to work before you’re ready. Read all about it in this blog post!
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10.06.2020
Last year USAs millennials overtook baby boomers in America. This being mentioned, there are many reasons for insurance companies to be excited about this market. They’re not as price-focused as previous generations, valuing quality service, and clear policies over cost. So how can insurance companies capture this market?
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04.06.2020
The gig economy is a massive driver of this increase, with ridesharing companies such as Uber, making self-employment more accessible and it has advantages for workers, allowing a high degree of flexibility. However, if you are a rideshare driver, you don’t have all of the same rights as those who are regularly employed. What can you do?
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27.05.2020
If you had to, could you survive on your savings alone? Most people couldn’t. 15% of Brits have no savings, and 33% have less than £1,500. When broken down by age, the picture for the young is particularly bleak, with 53% of 22–29-year-olds having no savings. So if you don’t have savings, what happens if you get ill?
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21.05.2020
An affinity group comprises of a group of people linked by a common interest or purpose. They can be social or professional, and for years insurance companies have offered cheaper and tailored insurance premiums for affinity groups.
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13.05.2020
Buying car insurance can be a daunting task. Should you choose a third-party policy or full coverage? How high should the deductible be? Why are policies so much cheaper for different people. The more you understand about insurance, the easier it is to get a policy that’s right for you.
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06.05.2020
Like much of Europe, to prevent the spread of Covid-19, the UK has been locked down for six weeks. With people now only leaving the house for the weekly shop, car usage has dropped by 75%, with mid-April having traffic levels comparable to 1955. Should this mean lower premiums for drivers?
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30.04.2020
As the world starts to get slowly back to work, many workers are beginning to see the value of income protection. Last week Aleš Tomazin, Head of Business Development, presented our second webinar, which focused on the rise of peer-to-peer (or P2P) insurance.
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23.04.2020
With our second webinar around the corner, we decided to look back to our first webinar where Ales Tomazin discussed the role of insurance in the age of a peer-to-peer economy. Here’s what we learned.
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13.05.2020
If you aren’t focusing on customer engagement, you’re missing out. Younger generations grew up with social media, so they are used to interacting with brands at the touch of a button.
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09.04.2020
Traditionally insurance companies managed without focusing on customer engagement. Things are changing, with social media marketing, influencers, and personalization as well as the rising buying power of Millenials and Generation Z.
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26.03.2020
Every action that an individual takes, involves at least a small element of risk, and risk management is a part of life…For businesses, it’s about the steps you can take to protect your income and property. Follow these steps and become a master of risk management.
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18.03.2020
The impact of the coronavirus pandemic has shocked Europe. Most freelancers have no insurance or income protection, and the pandemic is showing how quickly people struggle when out-of-work. Income protection is a peer-to-peer alternative to traditional insurance…
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11.03.2020
Insurance is set to change and customers are set to benefit. The expansion of the Internet-of-Things (IoT) has expanded the use of telematics. Do you ever drive at night? Or use country roads? Installing a black box might mean you pay more for insurance.
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04.03.2020
The Internet of things has changed the way we shop, interact and exercise. Will it change the way we insure our cars? Without a doubt.
Here are 5 ways that tech will make the insurance industry unrecognizable.
26.02.2020
Even if you’ve never heard of a peer-to-peer (P2P) network, you’ve probably made use of one. Is P2P something we can use in our everyday social life? You’ll be surprised when you find out that…
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22.02.2020
VouchForMe will present their products and introduce the important of social proof, discuss new disrupting models on insurance market and more.
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12.02.2020
The way we work has changed. The traditional 9–5 is no longer a sure thing. Yet freelancing comes with challenges too.
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05.02.2020
We sat down with Jacob once more to discuss VFM’s new product, the new user-friendly website, and the challenges facing the insurance industry today.
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29.01.2020
Every year thousands of new drivers pass their tests, with over 400,000 shedding their L-plates in the UK alone. Once the test is out of the way, they face a new challenge.
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