Mutuals on the Move: Exclusion Processes in the Welfare State and the Rediscovery of Mutualism
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | https://doi.org/10.17645/si.v8i1.2125 |
Resumo: | Declining welfare states and increasing privatization of the insurance sector are leaving an increasing number of people, particularly in Europe, without insurance. In many countries, new initiatives like Friendsurance (Germany), Broodfonds (the Netherlands), and Lemonade (US) have emerged to fill this gap. These initiatives, sometimes called peer-to-peer insurance, aim to make insurance fair, transparent, and social again. Resembling 19th-century mutuals, they pool premiums in (small) risk-sharing pools. We compare eleven new mutuals with respect to their institutional, resource, and member characteristics and find two broad typologies. The first bears the most resemblance to the 19th-century mutuals: Members are (partly) responsible for governance, there is no risk differentiation, premiums are fixed and low, and insurance payouts cover basic expenses only and are not guaranteed. The second group, while also applying risk-sharing and redistribution of unused premiums, is organized more like the present-day commercial insurers it reacted against, e.g., with refined InsurTech methods for risk differentiation and a top-down organization. We thus pose that, while both groups of new insurers reinvent the meaning of solidarity by using direct risk-sharing groups (as is central to the concept of mutuals), they have different projected development paths—especially considering how, in case of further growth, they deal with problems of moral hazard and adverse selection. |
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Mutuals on the Move: Exclusion Processes in the Welfare State and the Rediscovery of Mutualismcollective action; institutions; insurance; mutualism; resilience; risk-sharing; solidarity; welfare stateDeclining welfare states and increasing privatization of the insurance sector are leaving an increasing number of people, particularly in Europe, without insurance. In many countries, new initiatives like Friendsurance (Germany), Broodfonds (the Netherlands), and Lemonade (US) have emerged to fill this gap. These initiatives, sometimes called peer-to-peer insurance, aim to make insurance fair, transparent, and social again. Resembling 19th-century mutuals, they pool premiums in (small) risk-sharing pools. We compare eleven new mutuals with respect to their institutional, resource, and member characteristics and find two broad typologies. The first bears the most resemblance to the 19th-century mutuals: Members are (partly) responsible for governance, there is no risk differentiation, premiums are fixed and low, and insurance payouts cover basic expenses only and are not guaranteed. The second group, while also applying risk-sharing and redistribution of unused premiums, is organized more like the present-day commercial insurers it reacted against, e.g., with refined InsurTech methods for risk differentiation and a top-down organization. We thus pose that, while both groups of new insurers reinvent the meaning of solidarity by using direct risk-sharing groups (as is central to the concept of mutuals), they have different projected development paths—especially considering how, in case of further growth, they deal with problems of moral hazard and adverse selection.Cogitatio2020-03-20info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://doi.org/10.17645/si.v8i1.2125oai:ojs.cogitatiopress.com:article/2125Social Inclusion; Vol 8, No 1 (2020): Institutions of Inclusion and Exclusion; 225-2372183-2803reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAPenghttps://www.cogitatiopress.com/socialinclusion/article/view/2125https://doi.org/10.17645/si.v8i1.2125https://www.cogitatiopress.com/socialinclusion/article/view/2125/2125https://www.cogitatiopress.com/socialinclusion/article/downloadSuppFile/2125/971Copyright (c) 2020 Eva Vriens, Tine De Moorhttp://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessVriens, EvaDe Moor, Tine2022-12-20T11:00:27Zoai:ojs.cogitatiopress.com:article/2125Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:21:57.114308Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Mutuals on the Move: Exclusion Processes in the Welfare State and the Rediscovery of Mutualism |
title |
Mutuals on the Move: Exclusion Processes in the Welfare State and the Rediscovery of Mutualism |
spellingShingle |
Mutuals on the Move: Exclusion Processes in the Welfare State and the Rediscovery of Mutualism Vriens, Eva collective action; institutions; insurance; mutualism; resilience; risk-sharing; solidarity; welfare state |
title_short |
Mutuals on the Move: Exclusion Processes in the Welfare State and the Rediscovery of Mutualism |
title_full |
Mutuals on the Move: Exclusion Processes in the Welfare State and the Rediscovery of Mutualism |
title_fullStr |
Mutuals on the Move: Exclusion Processes in the Welfare State and the Rediscovery of Mutualism |
title_full_unstemmed |
Mutuals on the Move: Exclusion Processes in the Welfare State and the Rediscovery of Mutualism |
title_sort |
Mutuals on the Move: Exclusion Processes in the Welfare State and the Rediscovery of Mutualism |
author |
Vriens, Eva |
author_facet |
Vriens, Eva De Moor, Tine |
author_role |
author |
author2 |
De Moor, Tine |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Vriens, Eva De Moor, Tine |
dc.subject.por.fl_str_mv |
collective action; institutions; insurance; mutualism; resilience; risk-sharing; solidarity; welfare state |
topic |
collective action; institutions; insurance; mutualism; resilience; risk-sharing; solidarity; welfare state |
description |
Declining welfare states and increasing privatization of the insurance sector are leaving an increasing number of people, particularly in Europe, without insurance. In many countries, new initiatives like Friendsurance (Germany), Broodfonds (the Netherlands), and Lemonade (US) have emerged to fill this gap. These initiatives, sometimes called peer-to-peer insurance, aim to make insurance fair, transparent, and social again. Resembling 19th-century mutuals, they pool premiums in (small) risk-sharing pools. We compare eleven new mutuals with respect to their institutional, resource, and member characteristics and find two broad typologies. The first bears the most resemblance to the 19th-century mutuals: Members are (partly) responsible for governance, there is no risk differentiation, premiums are fixed and low, and insurance payouts cover basic expenses only and are not guaranteed. The second group, while also applying risk-sharing and redistribution of unused premiums, is organized more like the present-day commercial insurers it reacted against, e.g., with refined InsurTech methods for risk differentiation and a top-down organization. We thus pose that, while both groups of new insurers reinvent the meaning of solidarity by using direct risk-sharing groups (as is central to the concept of mutuals), they have different projected development paths—especially considering how, in case of further growth, they deal with problems of moral hazard and adverse selection. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-03-20 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://doi.org/10.17645/si.v8i1.2125 oai:ojs.cogitatiopress.com:article/2125 |
url |
https://doi.org/10.17645/si.v8i1.2125 |
identifier_str_mv |
oai:ojs.cogitatiopress.com:article/2125 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
https://www.cogitatiopress.com/socialinclusion/article/view/2125 https://doi.org/10.17645/si.v8i1.2125 https://www.cogitatiopress.com/socialinclusion/article/view/2125/2125 https://www.cogitatiopress.com/socialinclusion/article/downloadSuppFile/2125/971 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2020 Eva Vriens, Tine De Moor http://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2020 Eva Vriens, Tine De Moor http://creativecommons.org/licenses/by/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Cogitatio |
publisher.none.fl_str_mv |
Cogitatio |
dc.source.none.fl_str_mv |
Social Inclusion; Vol 8, No 1 (2020): Institutions of Inclusion and Exclusion; 225-237 2183-2803 reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799130665830055936 |