Tag Archives: sharing economy

10 Predictions: Sharing Economy 2016

2015 definitely marked the ever-increasing rise of the sharing economy company, with Uber continuing its massive fundraisings and quest for world domination, a complete lack of public offerings, and other big headlines. For all business in the sharing economy, insurance is still one of the most primary concerns. Insurers will be closely watching what happens  as they craft new coverage to respond to the evolving market.

Here’s a prediction for the sharing economy 2016 via Ronny Kerr @ Vator.tv

1. The bubble will continue to deflate

M any analysts a year ago expected that 2015 would be the year that the technology bubble burst. I classified it as a missed prediction because a burst suggests a more cataclysmic end along the lines of what we saw at the end of the dot-com era.Entrepreneurs will have to work harder to demonstrate the value of their startups if they want to raise capital. And those that do stand out and secure investor interest will not be raising as much money as their counterparts did in early 2015 or 2014.In other words, the market will come back to reality, which is a good thing.

2. Uber won’t file for an IPO
In a sense, Uber is like a puppy that grew huge really quickly, but still acts like a puppy. Though the company has expanded internationally in its quest for world domination, the company resembles a young startup in its ability to test new, innovative schemes (like UberEATS) relatively quickly.

3. Airbnb will file for IPO
Airbnb, on the other hand, is ready for primetime.
Today the company doesn’t have much serious competition, except from HomeAway, which was acquired by Expedia for $3.9 billion in November, and the traditional hotel industry. So not only will this IPO happen, but it will be a hot one.

4. Didi Kuaidi will acquire Lyft
Consolidation in the ride-hailing space is inevitable. In fact, it’s already underway.

5. Uber will succeed where Sidecar failed
Sidecar, one of the earliest ridesharing companies, announced earlier this week that it was shutting down. After serious competition with Uber and Lyft, the company had pivoted in early 2015 to food delivery. Unfortunately, competition in that sector is just as fierce, and ultimately Sidecar couldn’t cut it.

6. Several food delivery startups will go out of business

7. More unions will be approved for Lyft and Uber drivers
At the end of 2015, the relationship between Uber/Lyft and their drivers was looking really interesting.

8. Uber will invest heavily in fully autonomous car
It’s a bit optimistic to think we’ll be seeing fully autonomous cars on city streets by the end of 2016, but it could realistically come to fruition by 2020.

 9. Uber for friends (and maybe more than friends)
In 2016, we’ll see the rise of a line of apps and services promising the ability to “hail” or “rent” a friend on the fly.

10. Taxis will thrive
People still buy taxi medallions in the city, and I predict the number will even go up next year. Of course, for this to actually become reality will require more than just technology like Flywheel. We’ll need tighter regulations on the upstarts (Lyft and Uber) and more equal rules for the taxi industry.

Read more at http://vator.tv/news/2016-01-01-top-10-predictions-for-the-sharing-economy-in-2016#YgWCy68OJDbDQsLs.99
Sharing Symposium Toronto

Insuring the Sharing Economy

The first ever Canadian Sharing Economy Symposium was held on  December, 2nd in Toronto. The Canadian Sharing Economy Symposium drills down into how the new Sharing Economy platform business model is disrupting traditional businesses. Melissa Neis, Vice President of Parr Insurance was one of the panelist present at the Symposium. Important questions were directed towards Melissa which tackle the a lot of issues of the emerging Sharing Economy. Questions such as:

What does it take to build an insurance program for the sharing economy and what are some of the difficulties you face?
What are some things that businesses in the sharing economy could do to either improve their current insurance program or to ensure that they get a program that best suits their business model?

The keynote speakers were Marina Lao, Director of the Office of Policy Planning at the Federal Trade Commission and Tim Hudak, Member of Provincial Parliament, Niagara West-Glanbrook. This conference brings together the key change makers from multiple sectors and perspectives to discuss how the rapidly evolving sharing economy model has global and local implications that are changing markets, cities, and lives.

While this is opening up a number of opportunities, it is also raising complex legal and policy issues such as how best to address market failures; and manage concerns over consumer safety and tax compliance. This panel discussed as well the critical issue of labour in the sharing economy: are participants “employees” or “independent contractors”;  the problems and opportunities posed by these new labour relationships; and what legal and policy changes may be needed in response.

For more information on insuring businesses in the sharing economy, contact us today!

Parr Insurance Brokerage
2157 N Damen #2B
Chicago, IL 60647
P.773.489.3001
Melissa@parrinsurancebrokerage.com

 

Link

Conference:

The first open Canadian Sharing Symposium will be held December 2nd at the St. Andrew’s Club and Conference Centre, in Toronto Ontario. This Conference brings together the key change makers from multiple sectors and perspectives to discuss how the rapidly evolving sharing economy model has global and local implications that are changing markets, cities, and lives.

Melissa Neis, Vice President at Parr Insurance, will be a member of the panel discussing the process of insuring the sharing economy within Canada, regulations in the sharing economy , and why today’s sharing economy business do not fit the old economy’s insurance policies.

The Canadian Sharing Economy symposium drills down into how the new Sharing Economy platform business model is disrupting traditional business.  While new opportunities are arising through shared economy, many legal and policy issues are as well.

To attend, register online at www.InsightInfo.com/SharingEconomy