Wemates - P2P Network

Peer-To-Peer risk-sharing platform

Radarme UG
Radarme UG Berlin, DE

Project Overview

Wemates is challenging traditional insurance industry! Climate-friendly – Fair - Transparent. Mates. The idea behind Wemates is simple: Many People with common risk can get together and insure what they value most rather than go through the bureaucracy of traditional insurance. We say: Stop the conflict that inherently arises between a traditional insurer and a policyholder! Wemates is the change in the insurance industry.

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Wemates - P2P Network
Wemates - P2P Network
Wemates - P2P Network
Wemates - P2P Network
Wemates - P2P Network

Funding goals

  1. Stage 1:

    15.000 EUR

    0% funded

    Preparing to launch MVP. At this stage we create a prototype of the application with only the function of mobile phone insurance.

  2. Stage 2:

    35.000 EUR

    0% funded

    Extension of functionality. In this phase, insurance of other valuables would be possible (animals, scooters, drones, etc.)

  3. Finish Stage:

    50.000 EUR

    0% funded

    The amount will allow us to launch without attracting a for-profit investor.

Here’s an example of a “traditional insurance model”:
Linda owns a smartphone or smartwatch and wants to make sure their assets are protected in case of damage. She goes to one of the major insurance companies and pays them a monthly premium to get coverage.

Now let’s say disaster strikes, and Linda’s smartphone gets broken.
Linda goes to file her claim and expects the reimbursement. Insurer is, in fact, incentivized to make it difficult for Linda to get money to repair her smartphone.

The company would put up large bureaucratic hurdles to ensure she don’t get paid. More than likely, it has worked large deductibles into Linda’s plan so that it won’t need to pay out the true value of the assets. In other words, it’s incentivized to not pay the customer or payments could take months or, in some cases, years.

This is not the case with Peer-to-Peer insurance, which eliminates the bureau of traditional insurance.

We’re building People-to-People insurance – a “risk-sharing network” where groups of associated or like-minded individuals pool their premiums together to insure against a certain risk. Our P2P risk-sharing platform – a match-maker for peers who self-organize themselves, self-regulate, share risk and manage all insurance functions without any intermediation; every decision is made through a voting procedure. All members know who is in the group, who is filing a claim, and how much money is in the pool. It lets you select your insurance pool – be it friends, family members, or simply people with whom you share interests and activities.

If you don’t have a group of peers to pay into a pot, our solution bundles in one seamless process of appraising any device remotely to get an offer of a fair coverage proposal based on the device’s current condition and the ability of people with common risk to get together and insure what they value most rather than go through the bureaucracy of traditional insurance. AI Recognition and Fraud detection will eliminate any possible fraud and that will allow you to apply to an anonymous group. It’s just like joining a Facebook group or Discord server.

Instead of keeping unused premium funds as profits like traditional insurers do, we’d return any remaining funds at the end of a coverage period to the pool’s members. If the claim payouts exceed what’s available in the pool during a given coverage period, a reinsurer, which assumes part of the risk in exchange for a share of the insurance premiums, will cover the difference. No deductible. No funds are lost or accumulated as provider’s profit. We’ll operate on a small flat fee to cover all operational expenses related to service.

At the beginning, we’ll focus on smartphones and smartwatches as the risk of being out of reach when your smartphone gets broken is the most common. In the second half of 2023, Mates would be able to create pools to get coverage for all you need from pets to something expensive.
Wemates - P2P Network
Wemates - P2P Network
Aligning with exploring a new business model we combined three elements at our platform:

- insurance - while the product is the same – we redefine the delivery method to People-to-People, we change interaction, simplify processes related to the formation of mutual premiums pool and enable automation, which results in the elimination of fraud, lower cost of premiums, and efficient claim process.

- transparency - all members know who is in the group, who reports a claim and how much money is in the pool.

- voting process - in which every decision in the pool is made by a vote of all peers.

- no additional fees or deductible when you report a claim.
Wemates - P2P Network
Wemates - P2P Network
With regard to current environmental problems, we value sustainability. That's why we want to set the standard for ethical and sustainable action in the insurance industry.

E-waste is generated in high volumes due to the pace of technological innovation. E-waste is classified as a type of hazardous waste, which may pose adverse health impacts and environmental implications. About 40% of heavy metals are found in landfills coming from e-waste. Meanwhile, recycling rates across electronics stood at only 17% in 2019, meaning the vast majority of this value is not being repaired. At the current rate of growth for e-waste, multiple solutions would be needed as recycling alone will not be sufficient.

Almost 60% of customers prefer to buy a new phone when the screen gets broken, generating even more e-waste without giving the phone a second life. Much smartphone e-waste can be repaired or repurposed, and it is inevitable that the second life products solution of smart devices we’re working on – can contribute to reduce the global e-waste problem. Increasing the lifespan of a smartphone by 33% (e.g. replacing after 4 years instead of 3) could prevent annual carbon emissions equal to the annual emissions generated by the entire country of Ireland. In Switzerland, there are 3 million mobile phones in households and if we encourage fellow Swiss to increase the lifespan of their devices, that’s a lot of devices saved from landfill.

In order to accomplish it, we’d not only repair all broken gadgets but also donate to tackle recycling issues with a small amount of unused premium funds at the end of a coverage period.

Extending the smartphone’s lifespan is a key aim for us trying to reduce e-waste.
All we have to do is swipe right.

More information can be found on our website:  www.wemates.ai
Wemates - P2P Network
Wemates - P2P Network
Wemates is aimed at all people not satisfied with the current status quo and who may have lost faith in the insurance industry.

The target group consists of :

1. Associated or like-minded individuals (often friends, family and work colleagues) or simply people who share the same interests and activities.

2. People who are sensitive to environmental values in the sharing economy era expect from insurers to deliver on ethical and sustainable business practices.

3. People who are more willing to try alternatives to incumbent insurance players, such as insurtechs, which are more accessible and offer custom features that are better suited for specific needs.

The second goal, but not less important is to set a new standard of business model in the insurance industry by delivering on ethical and sustainable business practices, facilitate extending the lifespans of smartphones, through appropriate incentives and regulation.

To this end, we are establishing a new & sustainable insurtech – Wemates – that consistently implements the values of climate protection, fairness and transparency. Because for sustainable business there are more important things than profit maximization!
Wemates long-term goal is to set up a successful global P2P insurance platform – based on transparency and sustainability – bring movement into the entire industry and thinking alike to a new era of insurance industry.

To finance the first stage of the development of Wemates, we now need at least 400 supporters who are ready to pool premium to mutual pot as vouchers in the crowdfunding campaign.

After all, we think that a good mobile experience can make insurance as fun as leveling up a game or as engaging as social media.
Wemates - P2P Network
We want to give everybody the chance to do something against traditional insurance hurdles and environmental issues. To make insurance being inclusive by allowing small groups of high-risk peers to share risks with other groups, which might otherwise be uninsurable to a traditional insurer. For instance people with used devices. We want to harness that disruption to better connect with consumers for positive business impact.

By this, we want to set a new standard by reimagining insurance, both internally and externally, to meet the changing needs of today’s customers.

We value:

- sustainability and climate protection;

- fairness and transparency.


Participating is 100% risk-free for you:

- If we do not reach our financing goal and you do not get a Wemates insurance coverage, you will of course get your money back completely!

- You can redeem your insurance voucher flexibly whenever you want, e.B. when your current insurance ends.

Wemates pool membership can be canceled daily right from the start and you’ll be refunded proportionally what’s left.

Convinced? Then join us! In the thank yous you will find all Wemates pre-calculated premiums as insurance vouchers.

Choose the tariff that best suits you and your situation and shape insurance to new and sustainable future!
Wemates - P2P Network
Wemates - P2P Network
The money finances next-gen P2P insurance of your smartphone as soon as you redeem your insurance voucher. Until then, we will not touch the money!
In the second half of 2023, we’d add to the app and platform the possibility to gather a pool to cover other valuable stuff such as drones, bicycles, pets etc.

With the crowdfunding campaign, we want to ensure sufficient interest in our platform before we sign long-term contracts with re/insurers, banks and partners and thus take great personal risks.
From 35.000 € Wemates will start in Q1 2023 – after we have built up the company (webshop, release mobile apps, set up customers support, functioning IT systems, etc.). So you will make 100% fair, transparent and green insurance from next year.
From 50.000 €, financing becomes much easier without profit-driven investors.
Wemates Dream team consists of Lars, Sofiia, Daria, Helena, Nazar, Viky and Bogdan. They support us in the areas of development, design, communication and marketing.

Sergii Vlasko and Maciej Poniatowicz – are founders and ideologists who are passionately and concretely committed to the transition to a sustainable world and vision: Insurance without ifs and buts.

And then, of course, there are you! Without you as supporters in the crowdfunding campaign itself.
Radarme UG
Radarme UG
Berlin, DE

Wemates - People-to-People risk-sharing platform – a match-maker for peers who self-organize themselves, self-regulate, share

risk and manage all insurance functions without any intermediation.

Maciej Poniatowicz
Maciej Poniatowicz
Berlin, DE
Co-founder, Board Member

Enterprenour with +25 years of experience as sales and business development manager in insurance and finance industry in the Central and Eastern Europe region. Strong background in implementation of B2B2C and subscription based models with banks, retailers, mobile operators and travel industry. Big fond of insurtechs, technology and convenience solutions.

Sergii Vlasko
Sergii Vlasko
Berlin, DE
Co-founder, Board Member

Co-founder and ideologist who is passionately and concretely committed to the transition to a sustainable world and vision:



Insurance without ifs and buts.

Nazar Dubyk
Nazar Dubyk
Berlin, DE
Product Owner

Ukrainian with four years of experience in the IT industry. Realized that the insurance market is not so good and you need to try to change it

Helen Okhrimovych
Helen Okhrimovych
Berlin, DE
PPC

I believe that everyone has the ability to change and improve everything around them. You just need to not stand aside, but to trust your feeling and start the movement. The future is in our hands.

Sofiia Lobanova
Sofiia Lobanova
Berlin, DE
Project Manager

Now is the time to change our world! In Radarscreen I want to implement my personal experiences as a translator, tutor and private entrepreneur and change the insurance industry through our project WEMATES.



Our motto: "Environmentally friendly - fair - transparent".

Daria Iliasova
Daria Iliasova
Berlin, DE
Marketing manager

My name is Daria. I am from Ukraine.

I am Marketing manager in Radar. Try to make insurance unusual and interesting. We believe, that we will start new way of insurance that you will never seen before.

Viktoriia Shandurska
Viktoriia Shandurska
Berlin, DE
QA Engineer

My role in the team is a QA Engineer. My goal is to make sure that the quality of delivered product meets all requirements and that the customer won’t face any issues and inconveniences using our app.

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