Interesting that a peer to peer insurtech startup such as Guevara should fail.
In days gone by, this sort of venture was called a "Mutual". There are a small number of highly successful mutuals still operating (NFUM and Ecclesiastical come to mind). However, the model has fallen out of favour in recent years.
Putting a new spin or name on an old model does not necessarily make it work.
Insurtech peer to peer start-up, Guevara, has closed its business after four year due to failing to establish a capitalised underwriting vehicle. Guevara launched in 2013 as a broker, allowing its customers to pool their premiums in order to get a lower price on their motor insurance premium. Co-founder of Guevara, Paul Anderson, confirmed to Post it was the start-up’s failure to establish a capitalised underwriting vehicle which led to its closure.