Muno Offers P2P Insurance for Freelancers in Madrid

Meet Muno, a Madrid-based P2P insurance scheme for freelancers launched on May 12, and led by Ion Cuervas-Mons .


This is Muno:


From a regulatory stand point, Muno is an insurance agency born within BBVA New Digital Business, the digital arm of the multinational Spanish banking group. It offers “Temporary Casualty Insurance”, that covers against illnesses and accidents and allows policyholders to receive a daily allowance of €30, €60 or €90, based on their selected plan, till they recover. And let’s not forget the P2P element. Turns out, Muno is the first and only P2P scheme in Spain. The insurance sold is based on a profit-sharing model, where there’s an extra refund that will be shared with the insureds, once benefits and claims have been paid for and Muno discounted its fees. Also, the experience is 100% digital, 100% transparent (that’s a trend, BTW). The insureds know month by month the basis of calculation, the profits and how many losses are being covered. Bottom Line: underwritten by BBVA Seguros.