OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, Vincent Vandendael, chief commercial officer, Lloyd's, said that his company is fast-tracking its new technology and helping to grow the new sharing economy. Click on http://www.ambest.com/v.asp?v=vandendael618 to view the entire program.
Vandendael said he believes that the sharing economy will have a significant impact on the economy.
“The sharing economy is obviously a brand new environment, a brand new economy. Most of it did not exist 10 years ago. … Our study shows that today there is probably $15 billion in business in the sharing economy, which could actually increase to over $330 billion by 2025. Insurance has a great opportunity to deliver a specific role and help grow that economy,” said Vandendael.
However, Vandendael said he is concerned about trade tensions between the United States and China.
“Political tensions always have an impact on the economy,” he said. “That is because the world is more and more interconnected. Political uncertainty will always lead to reduction in economic activity, as well as a reduction in the value of assets.”
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