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Lloyd's found that 71% of consumers globally would be more likely to use sharing economy services if insurance was offered Lloyd’s found that 71% of consumers globally would be more likely to use sharing economy services if insurance was offered. (Photo: Shutterstock)

The shared economy has been growing for a number of years and it’s only likely to dominate going forward. As technology’s role in the shared economy continues to expand, individuals have grown accustomed to the numerous benefits that come with it — convenience, flexibility and cheaper costs, among others.

But the shared economy also comes with a number of risks, and figuring out who is responsible is a critical question for any party involved. To answer such a vast question, Lloyd’s commissioned a survey conducted by research agency Coleman Parkes to learn more about how all parties involved in the shared economy perceive and manage the risks inherent in the sharing economy model around the world.

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected]

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