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At ArchOver we know the power of insurance to protect lenders. Other platforms are now realising the confidence insurance can provide to drive growth.
TaskRabbit is an online marketplace that invites people to post odd jobs to the Crowd. The Crowd then bids to do the job and if all goes well, jobs done. But what if things don’t go well?
Starting today TaskRabbit in the US will be offering $1 million in insurance for property damage or bodily injury for people who either post tasks or carry them out. The insurance pays out if it’s the result of negligence by, for example, the person performing a task. It is also insuring losses due to theft up to $10,000. TaskRabbit covers the premiums through its charges.
TaskRabbit believes this is a big step forward in convincing people who haven’t used the service that it is safe, in the unlikely event that something goes wrong they are there to cover at least the financial loss.