Social insurance company relies on communities to reduce premiums

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We've seen a number of innovative insurance initiatives in recent years, from free medical insurance in Mexico City to discounted car insurance for GPS-guided drivers. Now we've spotted friendsurance, an initiative that lets you manage your own insurance claims amongst a select group of friends. German friendsurance enables its users to create communities of up to 15 people who can help cover an insurance claim in the case of an accident. These friends can be pulled in from a user's Facebook account, and, once they have become a member, they can then provide between EUR 30–50 to help cover a…

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