Teambrella is a peer-to-peer startup platform aimed at providing an alternative to classic insurance. As part of the sharing economy, it exists on the verge of insurance and crowdfunding. The platform operates on the blockchain technology and is powered by ethereum.
Teambrella operates on the basis of teams with the same cause, interest or an object that they choose to protect (cover). Teams set their own rules. Together the teammates can control every aspect of the coverage: decide on what situations they would like to cover, who is accepted into the team, the risk level, amount of reimbursement in case of a claim and many more. The process is just, fair and transparent. There are no set premiums. One only pays when there are claims. If there are no claims in the team, none of the teammates pay anything.