# Innovative Insurance Insurance companies provide unique plans that lower costs. By [Mishal Omar](https://www.trendhunter.com/MishalO) | Published Oct 25, 2018 | Category: [Tech](https://www.trendhunter.com/pro/category/technology-trends-and-gadgets) Source: Trend Hunter, https://www.trendhunter.com/protrends/innovative-insurance ## Key Figures - Trend score: 1.9/10 - Evidence articles: 5 ## What is the Innovative Insurance trend? **Innovative Insurance:** Insurance coverage can be excessively expensive and often comes with a long list of conditions, however insurance companies are now aiming to reach consumers who cannot afford costly premiums. Whether in the form of crowdsourced insurance platforms or cost-free plans, this emerging trend in the insurance industry prioritizes the accommodation of the consumer's lifestyle and needs. ## The consumer insight behind the Innovative Insurance trend In the United States, where health care and other routine aspects of life tend to be costly, consumers are increasingly searching for cost-accessible alternatives that offer them reasonable coverage. The income disparities and uneven cost of living have left more consumers taking communal approaches to health care and property protection. ## At a Glance - Evidence: 5 featured examples - Articles from: Jul 20, 2017 to Feb 13, 2019 - Published: Oct 25, 2018 - Patterns: [Divergence](https://www.trendhunter.com/pattern/divergence), [Acceleration](https://www.trendhunter.com/pattern/acceleration) - Megatrends: [Curation](https://www.trendhunter.com/megatrend/curation), [Catalyzation](https://www.trendhunter.com/megatrend/catalyzation), [Personalization](https://www.trendhunter.com/megatrend/personalization) ## Audience - Gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: North America, South America, Europe, Asia, Africa ## Themes within the Innovative Insurance trend ### Cost-Accessible Insurance Plans Insurance companies are prioritizing the accommodation of the consumer's lifestyle and needs by providing cost-free plans and communal approaches to health care and property protection. ### Crowdsourced Insurance Platforms Platforms like Rega and Laka provide low premiums and comprehensive coverage through a communal model, using blockchain technology to reduce customer costs. ### Insurance for Independent Workers As the number of freelancers increases, companies like Trupo are offering affordable health insurance with flexible and accessible rates. ## What the Innovative Insurance trend means for industry ### For Insurance Insurance companies are innovating to provide cost-free plans and communal approaches to health care and property protection. ### For Blockchain Companies like Rega are using blockchain technology to create crowdsourced insurance platforms that reduce customer costs. ### For Gig Economy As the number of independent workers increase, companies like Trupo are creating new insurance plans that cater to freelancers. ## Workshop question How could your brand better prioritize its consumer's lifestyle preferences and needs? ## Trend signals for Innovative Insurance Trend score 1.9 out of 10, from popularity 31%, activity 18%, freshness 8%. - Popularity: 31% - Activity: 18% - Freshness: 8% ## Examples of the Innovative Insurance trend 5 featured examples from Jul 20, 2017 to Feb 13, 2019. - [On-Demand Insurance Apps](https://www.trendhunter.com/trends/zego-app): The Zego App Provides Insurance to Delivery Drivers Only When Needed (Category: Autos) Implication: The on-demand delivery industry can benefit from the on-demand insurance trend as it enables companies to provide insurance only for the duration of a driver's shift. - [Cost-Free Life Insurance Plans](https://www.trendhunter.com/trends/avibra): 'Avibra' Monitors Your Lifestyle and Rewards Healthy Choices (Category: Lifestyle) Implication: The insurance industry can explore gamification and AI technology to enhance customer engagement and promote healthy lifestyles. - [Crowdsourced Travel Insurance Platforms](https://www.trendhunter.com/trends/sharing-risk): Rega is a Platform for Sharing Risk Built on Ethereum (Category: World) Implication: Rega's expansion into travel insurance can disrupt the traditional travel insurance market. - [Independent Worker Insurance Plans](https://www.trendhunter.com/trends/health-insurance-for-freelancers): Trupo Offers Affordable Health Insurance for Freelancers (Category: Lifestyle) Implication: The insurance industry can adapt to cater to the needs of the growing independent worker population. - [Communal Bicycle Insurance](https://www.trendhunter.com/trends/laka): 'Laka' Offers Low Premiums Through "Crowd Insurance" (Category: Business) Implication: Insurtech companies can disrupt the traditional insurance industry by offering communal insurance models and variable premiums. ## Recent trend clusters - [Delegated Interfaces](https://www.trendhunter.com/protrends/delegated-interfaces) (Tech) - [Adaptive Controls](https://www.trendhunter.com/protrends/adaptive-controls) (Tech) - [Desk Systems](https://www.trendhunter.com/protrends/desk-systems) (Tech) - [Spatial Refinement](https://www.trendhunter.com/protrends/spatial-refinement) (Tech) ## Trending in Tech - [Decor-Led Home Projectors](https://www.trendhunter.com/trends/decor-led-home-projectors) - [Accessible Fintech Pop-Ups](https://www.trendhunter.com/trends/chequing-account) - [Dual-Wavelength Recovery Wearables](https://www.trendhunter.com/trends/joint-therapy) - [Pop-Culture WiFi Routers](https://www.trendhunter.com/trends/pop-culture-wifi-routers) All articles: [Tech](https://www.trendhunter.com/tech)