While the commercial value of social networks has yet to be discovered by the corporate world, technology startups are already employing it to build solutions entirely based on social connectivity. P2P proved to be an especially successful business model in lending and insurance. Hundreds of startups across segments and models capitalize on the use of big data, Internet of Things (IoT), mobile technology, AI, and mentioned earlier social networks. At the moment, let's focus on those relying on the power of virtual communities to build a successful business:

Axieme is an Italian P2P insurance platform that allows participants to share the risk of an accident or damage along with other people. A person becomes part of a community by buying a policy of interest with Axieme. The premium paid is divided into two parts: one is for the insurance company, which will deal with the accident and guarantees compensation in the event of an accident; the other part is destined to a piggy bank. The insured at this point can choose whether to become part of a group that already exists, or give birth to a new circle by becoming an ambassador. As a buying group, members make a collection piggy bank in the circle and share the risk with all the other members of the same circle.

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