Tapoly: on-demand insurance for members of the sharing economy
The London bases startup Tapoly provides on demand insurance for freelancers, sole traders, contractors, home letters and equipment lenders. It is the insurance that covers the risks of consumers in the growing sharing economy market. It’s the insurance people need, when they need it – immediately available on tap.
The founders of Tapoly are on a mission to make sure that everyone has access to a comprehensive on-demand insurance solution that covers what they need, when they need it, at a fair price. They support the growth of the sharing economy by helping marketplaces to build trust in their communities. They’ve aimed to make it easy to get short-term insurance. Insure your room and your contents via the Tapoly app, and you’re covered immediately, and for short periods, such as a weekend
Aiming at the sharing economy
Aimed at the sharing economy, it’s clear to see that Tapoly is trying to crack the market for the Airbnb renters, Uber drivers, and others whose jobs are increasingly not covered by regular insurance policies. By 2025, PwC predicts that the European sharing economy will reach €570 billion in transactions and €83 billion in platform revenue. The demand for accessible, immediately and customizable insurance will continue to grow. 46% of people would consider sharing their car if the drivers are insured separately.
Why we selected Tapoly for DIA Munich
The sharing economy is not slowing down. However, unforeseen and complicated incidents between sharing platform users can hinder growth and even sink new startups. That’s why sharing economy entrepreneurs are obsessed with one word: trust.
Users need to feel that their assets are protected when they engage in a transaction, whether they use a sharing service to lend out their lawnmower or let someone drive in their car. Traditional insurance giants haven’t yet figured out how to cover the wide variety of peer-to-peer transactions that now take place. Insurtech entrepreneurs, like startup Tapoly, provide highly customizable insurance that fills the gaps in coverage left by traditional insurance providers. Tapoly wants to create a great customer experience for everyone who is looking for on-demand insurance.
Who is Tapoly?
The founder, Janthana Kaenprakhamroy, founded Tapoly in 2016 after struggling to get short-term insurance when she let her room via Airbnb. She didn’t want to do it without insurance, and to get insurance she had to spend hours on the phone, only to be turned away by most insurers. The only one that did offer cover charged a fortune.
She did some research and found many other people who also felt frustrated with not being able to get the insurance that they needed. So, she decided to create Tapoly, to make sure that everyone in the sharing economy can get access to a comprehensive insurance solution at a fair price.
Before she left her corporate career to set up her own business, she was an internal audit director at UBS, and previously worked for Deutsche Bank and JPMorgan. Providing her with a background in dealing with complex operational, regulatory and governance issues.
When putting together the Tapoly team, she chooses like-minded enthusiastic people with in-depth experience in insurance and technology, to help create a fantastic customer experience for everyone who is looking for on-demand insurance.
Janthana Kaenprakhamroy, CEO/Founder and Sam Hopkins CTO/Co-Founder Tapoly
Presenter 1: Janthana Kaenprakhamroy
Presenter 2: Sam Hopkins