{"id":64383,"date":"2026-03-04T09:26:31","date_gmt":"2026-03-04T09:26:31","guid":{"rendered":"https:\/\/www.elixirr.com\/en-gb\/?p=64383"},"modified":"2026-03-04T16:28:15","modified_gmt":"2026-03-04T16:28:15","slug":"streaming-insurance-how-to-prepare-for-the-subscription-economy","status":"publish","type":"post","link":"https:\/\/www.elixirr.com\/en-gb\/streaming-insurance-how-to-prepare-for-the-subscription-economy\/","title":{"rendered":"Streaming insurance? How to prepare for the subscription economy\u00a0"},"content":{"rendered":"\n
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Insurance pricing has historically relied on a simple premise: people own things, and those things need protecting. But consumption patterns are shifting. More people are starting to rent,\u00a0borrow\u00a0and subscribe rather than buy outright. The question\u00a0isn’t\u00a0whether this matters to insurers,\u00a0it’s\u00a0whether\u00a0they’re\u00a0ready to respond.<\/span>\u00a0<\/span><\/p>\n

Ownership is no longer the default<\/h2>\n

People\u00a0aren\u2019t\u00a0just streaming films anymore,\u00a0they\u2019re\u00a0starting to \u2018stream\u2019 cars, tech and even the places they stay.\u00a0<\/span>Gen Z in the UK now spends around\u202f\u00a3300 a month\u202fon subscriptions<\/span><\/a>, with over 9 in 10 having at least one service, signalling a generation that expects access on demand rather than long-term ownership. At the same time,\u00a0<\/span>the global usage based insurance market has grown to\u202fover $60 billion\u202fand is forecast to keep expanding at\u202fmore than 20% a year,<\/span><\/a>\u00a0as insurers increasingly use real-time data from connected vehicles,\u00a0devices\u00a0and rentals to price how assets are\u00a0actually used, not just owned.<\/span>\u00a0<\/span><\/p>\n

In the UK, exciting platforms like\u00a0<\/span>By Rotation<\/span><\/a>\u00a0and\u00a0<\/span>Fat Llama<\/span><\/a>\u00a0are enabling users to rent everything from designer handbags to power drills and accommodation in the speciality goods space. This smarter form of peer-2-peer (P2P) insurance is driving the\u00a0usage based\u00a0insurance (UBI) market. By applying intelligent algorithms and existing platform data, providers can create simple but accurately priced products for a particular rental period.\u00a0<\/span>The World Economic Forum estimates that the P2P accommodation sector will grow at six times the rate of traditional hotels\/hostels, all driven by digital platforms.<\/span><\/a>\u00a0<\/span>\u00a0<\/span><\/p>\n

This fits with the \u2018X as a service\u2019 trend\u00a0that\u2019s\u00a0hit multiple industries. Mobility as a service, for example, brings public and private transport \u2013 from e-scooters to transit \u2013 into tone on demand platform, enabling seamless planning,\u00a0booking\u00a0and payment. Demand is rising with<\/span>\u00a0\u00a040% of young adults saying they would go car-free if credible alternatives existed.<\/span><\/a>\u00a0<\/span><\/p>\n

What’s\u00a0happening here\u00a0isn’t\u00a0just behavioural;\u00a0it’s\u00a0structural. Traditional insurance categories \u2013 speciality goods, travel, motor \u2013 were designed around stable, long-term ownership. But people are increasingly moving between P2P platforms, rental accommodation, car-sharing\u00a0services\u00a0and temporary\u00a0stays.As\u00a0the underlying risk profile evolves, so too should the cover<\/span>\u00a0<\/span><\/p>\n

Insurance in a world without ownership<\/h2>\n

In a world without ownership insurance based on use is the key.\u00a0Several segments are already seeing significant adoption:<\/span>\u00a0<\/span><\/p>\n