The P2P Insurance Concept

Learn more

About Friendsurance

In 2010, the founders of the FinTech company, Friendsurance, realized that insurance is expensive and lacks transparency: people pay high premiums each year and get nothing in return. This is why Friendsurance has developed a revolutionary peer-to-peer insurance concept, which rewards small groups of users with a cash-back bonus at the end of each year they remain claimless. The claims-free bonus is available on our website

The vision of Friendsurance is to make insurance easier and more affordable for customers, helping to save customers time and money that can better be spent on the finer side of life. Fifty people work passionately daily toward achieving these goals in Friendsurance’s Berlin Headquarters, which is hiring. Friendsurance currently operates as an independent broker in the German market with approximately 60 domestic insurance partners.

Everybody benefits

The claims-free bonus creates value for both customers and insurance companies at the same time:

Without any additional costs, the claims-free bonus allows policy owners to get back up to 40% of their premiums if no claims are submitted. Thereby insurance not only becomes cheaper for the consumer but also provides a clear financial benefit for careful and fair behavior, which in turn reduces fraud. Accordingly, Friendsurance records a claim frequency below market average.

Friendsurance also helps insurance companies. Improved behavior reduces cost of claims and also processing cost for small claims is reduced. Additionally, the claims-free bonus helps to increase customer satisfaction as well as customer loyalty.

The business model of Friendsurance meets the zeitgeist of many insurance customers – especially of young people.
Thomas Roeglin, Underwriter Composite of the renowned German insurance company Die Bayerische
(reference: Benjamin Huck, Schutz unter Freunden, Nürnberger Nachrichten, April 11 2015).

How it works

Based on a shareconomy approach, policy owners with the same insurance type form small groups. A part of their premiums is paid into a cashback pool. If no claims are submitted, the members of the group get some of their money back at the end of the year. In case of claims, the cashback decreases for everyone. Small claims are settled with the money in the pool.

In the event of bigger claims, the standard insurance company covers any amount that exceeds the coverage through the group. In case there is insufficient money left in the pool to cover a claim, a stop-loss insurance covers the rest. As a result, policy owners always enjoy full coverage and never pay more than they would without Friendsurance.


Look at Friendsurance.
That's the perfect example of a social insurance company.
Randi Zuckerberg, sister of Facebook founder Mark Zuckerberg

From left to right: Friendsurance Managing Director Tim Kunde and user Michael Tomoff

Success rate

For 2013 and 2014 more than 80% of the customers who took advantage of our claims-free bonus received some of their premiums back. In the property insurance line the average cashback was 33% of the paid premiums.

For example, one of the early users, Michael Tomoff from Cologne, got more than € 680 in cash back for his four insurance contracts within the last three years – this is equivalent to 40% of the paid premiums.

Year Premiums Cash back
2014 € 621,63 € 226,17
2013 € 546,64 € 262,80
2012 € 506,65 € 193,25
Total amount € 1.674,89 € 682,22

I always found it unsatisfying to pay so much money for insurances I rarely use. With Friendsurance, I get something back if no claim has been made.
Michael Tomoff, psychologist from Cologne, Germany


Currently, the claims-free bonus is available on a range of retail products in Germany:
home contents, private liability, and legal expenses insurances.

If a user looks for new insurance coverage, he can use from a range of different offers on The contract he buys will already have the Friendsurance concept built in, enabling him to receive a cashback each year.

Moreover, our concept can also be added to existing contracts very easily, creating the most convenient way of saving insurance premiums – without any change in coverage, premium or provider.

Friendsurance Managing Directors Tim Kunde and Sebastian Herfurth with the investors Perry Abbott and Shakil Khan (Horizons).

Disruptive potential

The insurance industry has not seen much innovation over the last decades. The peer-to-peer insurance model Friendsurance launched in 2010 was completely unique. Since then, the business has grown rapidly and appealed to a number of renowned institutional and private investors from the internet scene, among them technology investors Horizons Ventures, VantageFund,, the German Startups Group as well as the European Regional Development Fund.

Friendsurance is taking a step by step approach to disrupting the insurance industry.

In Germany, the company started with one insurance category in 2011, is now at four categories, and will soon add additional categories, amongst them car insurance. Friendsurance has an international ambition and a model that can be applied in any market.

We love brave business models with disruptive potential – especially in big markets such as the insurance industry.
Shakil Khan from Horizons Ventures, who previously invested in innovative ventures like Facebook, Spotify, and Skype


Email for insurance companies:
Email for investors:

Email for press Germany:

Email for press Australia:

Tim Kunde

Co-Founder, Managing Director

Tim graduated with a Masters in International Management. He started his career with The Boston Consulting Group, advising various companies on consumer goods and insurance matters. He is responsible for marketing, business development, sales, IT, product, customer support and CRM.

Dr. Sebastian Herfurth

Co-Founder, Managing Director

Sebastian is a lawyer and has experience in advising various banks and insurance companies. He is responsible for insurance cooperations, legal matters, finance, BI & controlling as well as human resources.

Janis Meyer-Plath

Co-Founder, Head of Marketing & Sales

Janis has a degree in International Management and has previously gained experience in marketing and business development at several companies. He directs marketing and sales efforts.

Press reviews

Collaborative Consumption (Australia): Pioneer Interview With Tim Kunde of Friendsurance (May 6 2015)
The Daily Mail (UK): Like banking before it, insurance industry faces competition from peer-to-peer newcomer (April 3 2015)
Computerworld (UK): Insurance firms slow to adapt to digital disruption, warns Forrester (March 17 2015)
Financial Chronical (India): Transform or perish (March 16 2015)
Post Magazine (UK): Digital friends with benefits (January 29 2015)
BlueDun Blog (USA): Disrupting Insurance with Friendsurance (November 13 2014)
RISKSA Magazine (South Africa): With a little help from my friends (November 11 2014)
Co.Exist by Fast Company (USA): Insuring Yourself With A Group Of Friends Has Benefits (July 10 2014)
TechCrunch (USA): Innovative Crowdsource Insurance Startup Friendsurance Raises New Cash (April 3 2014)
Project M (Germany): Back to the future of insurance (May 1 2014)
New Scientist (UK): Breaking into insurance with Tim Kunde (April 11 2013)
The Economist (UK): Friends with benefits (June 15 2012)