Besurance Corporation has launched a not for profit, peer to peer, risk sharing pool through its technology Besure.
Nearly one week after World Health Organization declared the COVID-19 outbreak a global pandemic, Besurance Corporation has launched a not for profit, “People helping People” campaign using its besure technology to help close the financial gap for people that test positive for the virus. Besure is a community driven platform that allows people to come together and share risk when there is a gap between what people need and what is available through traditional insurance/government programs. Through besure, like minded individuals can come together and contribute into a “virtual jar” in order to co-create supplementary protection that would serve the community.
“This is what besure was designed for,” says Karim Lalani, Managing Director – Besure. “The technology was designed and supplemented with actuarial tools to help people take matters into their own hands and create solutions as a community in a stable and structured environment. Besure is NOT insurance nor does it provide insurance. It is simply a technology platform that offers structure and discipline to help people protect themselves and their loved ones.”
“The Government and our institutions are doing their best to manage this unprecedented crisis by lowering interest rates and injecting billions into programs for Canadians,” explained Almin Kassamali, Chief Marketing Officer – Besure.
“Before the crisis, people were already economically fragile and facing uncertainty in their employment. EI rules have been modified to pay benefits earlier; however, people may need supplemental income if they are infected by the COVID-19 virus. EI supports employees but what about contractors? People who are self employed? We don’t expect this initiative to solve the world’s income problems. We just want to help ease the burden.”