Duuo, the specialty digital insurance brand of The Co-operators, has come up with yet another innovative product.
The company has launched Rent-my-Stuff Insurance – a first of its kind on-demand digital insurance made especially for peer-to-peer sharing platforms to cover for damages and losses specific to the sharing industry. It was developed by Duuo in partnership with Slice Labs.
A release noted that Duuo is offering the insurance first through Traveling Munchkin, a Canadian platform which allows parents to find and rent out baby paraphernalia from local families.
“Peer-to-peer rentals are emerging as the next phase of the sharing economy, with Canadians gravitating towards platforms like Traveling Munchkin to rent their personal equipment as a way to earn additional income,” commented Duuo managing director Robin Shufelt.
Shufelt noted that one of the biggest hurdles to adoption in the rental market is the fear of damage. But she offered assurances that Rent-my-Stuff Insurance provides peace of mind and protection to those looking to lease their equipment.
“We’re so thrilled to be partnering with Duuo,” said Traveling Munchkin founder Samantha Vlasceanu. “With Duuo, I finally found an insurance partner who understood the sharing economy and was able to accommodate the unique needs of my users.”
Duuo revealed in a release that it is “actively engaging” with other rental platforms and that it looks forward to revealing its next peer-to-peer partner in the weeks to come.