Sharing Economy Report

Sharing Economy: Implications for the Insurance Industry in Canada

The sharing economy is changing the way consumers conduct business, blurring the lines between commercial and personal transactions, and shaking up the concept of ownership. Experts agree that the sharing economy is expected to grow, and as it does, it will continue to disrupt industries, including the p&c insurance industry.

Sharing Economy: Implications for the Insurance Industry in Canada is an important report that assesses what is known about the sharing economy today and how it is expected to impact the insurance industry in the near and distant future.

The report asks important questions for the industry:

• What drivers are shaping the sharing economy?
• Why is the sharing economy important?
• What is expected over the next five to 10 years?
• How should the sharing economy be regulated?
• How will the sharing economy change the insurance industry?

As millions of Canadians choose to participate as providers, consumers, or both, in the sharing economy, the p&c insurance industry needs to prepare for new opportunities in the emerging market, as well as the threat of disruption and new competition in the insurance sector.

It is important for the insurance industry and stakeholders to come together now to become a part of the transformations taking place.

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