Share Economy Blog

Uber

Uber Over Takes Rental Cars

In this Bloomberg Business Article, Uber’s percentage of ground transportation transactions were measured for the year of 2015. It was reported that Uber transactions comprised the majority of all ground transportation transactions with 43%, while rental cars were 40%. The accessibility and convenience of Uber seems to be “driving” the company into first place! Make sure to read the full Bloomberg Article, Uber Overtakes Rental Cars Amongst Business Travelers, by Olivia Zaleski, by clicking here!

 

 

Ride Pro Ride-Share Insurance

Melissa Neis, Vice President of Parr Insurance Brokerage, was featured in an article where she spoke about the new insurance product “Ride Pro” designed to provide insurance to ride-share drivers when their application is off and is additional to Uber driver’s coverage when the phone application is on.

Click this link to read the full article by Steve Randall on ibmag.com

Share Economy Risk

Melissa Neis, Vice President of Parr Insurance, was featured in the article Sharing Risk  by Alex Wright where she provided her take on the difficulties of insuring the growing Sharing economy. The article details how as share economy services continue to rise in popularity, you can expect an increase in use by a substantial amount in years to come. The advantages of services such as Uber, Lyft, and Airbnb are their ease of use and relatively cheaper price compared to traditional taxi or hotel services. Not to mention they are great options to fill your pockets with a little extra money. But the Sharing Economy is facing many risks in years to come regarding legal issues and insurance requirements.

To learn more about the risks of the ever-growing share economy, visit http://www.riskandinsurance.com/sharing-risk/

Contact us at Parr Insurance Brokerage to get the best possible Insurance Coverage

2157 North Damen Ave Ste. 2b
Chicago, IL 60647
P (773)-489-3001
cedric@parrinsurancebrokerage.com

 

App Tracks Drivers

Apps Track Performance of Drivers

Car Apps Test Tracking of Drivers
By Douglas MacMillan of Wall Street Journal

Driver Eva Nunez recently was driving for Shuddle, a ride-hailing service for families, when she says she slammed on the brakes to avoid a dog.

The dog was unharmed, but Ms Nunez later was reprimanded by Shuddle, which detected the sudden stop using the accelerometer sensor in her smartphone. In an e-mailed report that details her driving performance each week, the company noted the incident’s location and warned her to brake more gradually.

The same smartphones used by more than a million drivers of ride-hailing services to pick up passengers and collect fares are now tracking when they speed, cut corners, brake suddenly or send texts while at the wheel.

Several companies including Uber Technologies are testing ways to collect this data by uniting sensor readings in phones with geolocation data and traffic patterns.

Click here to read the full article

 

10 Predictions: Sharing Economy 2016

2015 definitely marked the ever-increasing rise of the sharing economy company, with Uber continuing its massive fundraisings and quest for world domination, a complete lack of public offerings, and other big headlines. For all business in the sharing economy, insurance is still one of the most primary concerns. Insurers will be closely watching what happens  as they craft new coverage to respond to the evolving market.

Here’s a prediction for the sharing economy 2016 via Ronny Kerr @ Vator.tv

1. The bubble will continue to deflate

M any analysts a year ago expected that 2015 would be the year that the technology bubble burst. I classified it as a missed prediction because a burst suggests a more cataclysmic end along the lines of what we saw at the end of the dot-com era.Entrepreneurs will have to work harder to demonstrate the value of their startups if they want to raise capital. And those that do stand out and secure investor interest will not be raising as much money as their counterparts did in early 2015 or 2014.In other words, the market will come back to reality, which is a good thing.

2. Uber won’t file for an IPO
In a sense, Uber is like a puppy that grew huge really quickly, but still acts like a puppy. Though the company has expanded internationally in its quest for world domination, the company resembles a young startup in its ability to test new, innovative schemes (like UberEATS) relatively quickly.

3. Airbnb will file for IPO
Airbnb, on the other hand, is ready for primetime.
Today the company doesn’t have much serious competition, except from HomeAway, which was acquired by Expedia for $3.9 billion in November, and the traditional hotel industry. So not only will this IPO happen, but it will be a hot one.

4. Didi Kuaidi will acquire Lyft
Consolidation in the ride-hailing space is inevitable. In fact, it’s already underway.

5. Uber will succeed where Sidecar failed
Sidecar, one of the earliest ridesharing companies, announced earlier this week that it was shutting down. After serious competition with Uber and Lyft, the company had pivoted in early 2015 to food delivery. Unfortunately, competition in that sector is just as fierce, and ultimately Sidecar couldn’t cut it.

6. Several food delivery startups will go out of business

7. More unions will be approved for Lyft and Uber drivers
At the end of 2015, the relationship between Uber/Lyft and their drivers was looking really interesting.

8. Uber will invest heavily in fully autonomous car
It’s a bit optimistic to think we’ll be seeing fully autonomous cars on city streets by the end of 2016, but it could realistically come to fruition by 2020.

 9. Uber for friends (and maybe more than friends)
In 2016, we’ll see the rise of a line of apps and services promising the ability to “hail” or “rent” a friend on the fly.

10. Taxis will thrive
People still buy taxi medallions in the city, and I predict the number will even go up next year. Of course, for this to actually become reality will require more than just technology like Flywheel. We’ll need tighter regulations on the upstarts (Lyft and Uber) and more equal rules for the taxi industry.

Read more at http://vator.tv/news/2016-01-01-top-10-predictions-for-the-sharing-economy-in-2016#YgWCy68OJDbDQsLs.99
Sharing Symposium Toronto

Insuring the Sharing Economy

The first ever Canadian Sharing Economy Symposium was held on  December, 2nd in Toronto. The Canadian Sharing Economy Symposium drills down into how the new Sharing Economy platform business model is disrupting traditional businesses. Melissa Neis, Vice President of Parr Insurance was one of the panelist present at the Symposium. Important questions were directed towards Melissa which tackle the a lot of issues of the emerging Sharing Economy. Questions such as:

What does it take to build an insurance program for the sharing economy and what are some of the difficulties you face?
What are some things that businesses in the sharing economy could do to either improve their current insurance program or to ensure that they get a program that best suits their business model?

The keynote speakers were Marina Lao, Director of the Office of Policy Planning at the Federal Trade Commission and Tim Hudak, Member of Provincial Parliament, Niagara West-Glanbrook. This conference brings together the key change makers from multiple sectors and perspectives to discuss how the rapidly evolving sharing economy model has global and local implications that are changing markets, cities, and lives.

While this is opening up a number of opportunities, it is also raising complex legal and policy issues such as how best to address market failures; and manage concerns over consumer safety and tax compliance. This panel discussed as well the critical issue of labour in the sharing economy: are participants “employees” or “independent contractors”;  the problems and opportunities posed by these new labour relationships; and what legal and policy changes may be needed in response.

For more information on insuring businesses in the sharing economy, contact us today!

Parr Insurance Brokerage
2157 N Damen #2B
Chicago, IL 60647
P.773.489.3001
Melissa@parrinsurancebrokerage.com

 

Chicagoland Cooperator’s Expo

 Chicagoland Cooperator’s Condo, HOA & Co-op Expo

The Chicagoland Cooperator’s Condo, HOA & Co-op seasonal Expo took place at the Navy Pier Convention Center, on Wednesday, November  18th  from 10am-4:30pm. The Expo is for board members, property managers, condo, HOA and co-op decision makers. Dwight Zivo of Parr Insurance Brokerage was an insurance expert in one of the Advice Booths, a free advice panel available to attendees of the event.. The event was free.

The Chicagoland Expo is the largest expo in the state entirely dedicated to  connecting condo, HOA, and co-op managers, board members, and residents with  the professionals and service providers their communities need on a regular  basis. Between nearly 300 exhibitors, countless product demos, free advice  booths, and full roster of educational seminars, it’s literally a one-stop, custom-built marketplace for vendors, products and  ideas.

“The express purpose of the Chicago Expo is to help attendees make useful,  productive connections, gain valuable information, and network with their  peers,” says company president Yale Robbins. So if you’re a decision-maker for a condo, homeowners association, or co-op community—or even if you just call one home—and you have a pressing legal issue or an important project waiting in the  wings, you owe it to yourself and your community to drop by the Expo and  experience what it has to offer. It would take months to meet with the same  number of vendors and professionals a typical Expo attendee will interact with  in one afternoon on the show floor.

 A Learning Experience

One of the biggest reasons for board members, managers, and owners to visit the  show is the Chicago Expo’s full slate of free educational seminars. Custom-built to help anyone involved—or even just interested—in the administration of a residential building or homeowners association, the  2015 seminar panels will provide in-depth discussion of the legal,  administrative, management, and financial concerns pertinent to the region’s  HOA managers, board members, and residents.

If you are interested in attending the expo as an audience member to enjoy one the free seminars,  network with fellow individuals in your particular field of expertise or promoting yourself and  business as an exhibitor next time around please visit  http://fall.ilexpo.com/ to register!

 

CLM Networking Event

Event: CLM Educational Networking

CLM(Claims and Litigation Management Alliance) Northern California Chapter held an informative educational and networking event featuring a presentation on “The Legal Landscape of the Sharing Economy: Homes and Rides” at City Club in San Francisco.

Melissa Neis, Vice President at Parr Insurance Brokerage and CLM Fellow attended the event and spoke about the recent legislation of California which included the Thriving Communities and Sharing Economy Act, amendments to the San Francisco ordinances to provide an exception on short term residential leases, and advertising residential private rental listings on the Internet. Parr Insurance was a sponsor of this event.

Other presenters included :
Tad Devlin, Partner and Chair of Sharing Economy Practice Group, Kaufman Dolowich & Voluck, LLP, (Moderater)
Amy Jensen, Lead Trial Attorney at The Hanover Insurance Group
Randy Nornes, Executive Vice President at Aon Risk Solutions Chicago

The Panel discussed, among other things, the ways in which California law has attempted to adjust in response to the insurance, labor, employment, and property issues that have emerged in the home-sharing and the ride-sharing economies.

The San Francisco Bay Area is the hotbed for all things that are innovative. Recent legislation and litigation regarding sharing economy companies have caused a dramatic change in the insurance industry, and the legal landscape alike. Learning the meaning of these new laws will be helpful to those looking to win new business, and to remain in compliance with the letter of the law.

To learn more about the CLM, visit this website. https://www.theclm.org/

 

 

Collaboraction – Beggar’s Banquet!

IMG_4568Collaboraction, the Chicago-based theater company dedicated to social change, collaboration and original work, launched its 20th season in Wicker Park with its always popular Beggars’ Banquet, this year honoring Collaboraction founder and nationally acclaimed director Kimberly Senior. Parr Insurance was one of the sponsors of Collaboraction. Melissa Neis, VP of Parr Insurance Brokerage, was the event Chairperson.”

Over 200 supporters raised more than $50,000 for the company while having an absolute blast at the time-traveling celebration of the company’s origins, 20-year history and exciting new future. The evening kicked off with paparazzi shots, cocktails and a delicious Chop Shop buffet, followed by a raffle and live auction. Kimberley Senior founded Collaboraction in 1995, and current Artistic Director, Anthony Moseley, joined the company in its third show and collaborated with Senior on numerous productions before taking over the helm. Moseley says “The first 20 years of Collaboraction cultivated a tremendous volume of theatre and relationships and amazing shared moments. It is a tremendous privilege, to take a moment, to remember and share and celebrate these accomplishments, before getting sucked back up by the excitement around our unique new work and mission we have laid out for the next five years to use all this energy we have created to make a positive impact on Chicago.”

Proceeds will help fund Collaboraction’s Teen Youth Ensemble program with After School Matters, Collaboraction’s Crime Scene tours to Chicago’s parks each summer, new play development, and salaries for dozens of local actors, performers and artists each year.