One of the most rapidly growing areas in the technology sector are firms that operate a shared service business model.
SAN FRANCISCO, Dec. 23, 2010 /PRNewswire/ -- One of the most rapidly growing areas in the technology sector are firms that operate a shared service business model. Latitude and Shareable Magazine recently released findings of "The New Sharing Economy Study," which uncovered new opportunities for entrepreneurs, investors, and established companies in the rapidly growing area of "shared services."
The study points to top opportunities for new sharing services. They include firms that have an operating model that share physical spaces, tangible property, intellectual property, household goods, online communities and network and more. It is predicted that shared service firms will continue to drive growth in the technology sector, and related investment opportunities will continue to be aligned, but shared service firms have special business, insurance and risk management needs.
In response to the segment growth, non-profit RiskCommunities interviewed Jessica Scorpio, co-founder of Getaround. Getaround is a peer-to-peer car sharing company headquartered in San Francisco. As one of the premier companies that have established a shared services business model, Jessica provided a glimpse of their journey. "Bringing a new concept to market in the shared services space has been an exciting and challenging endeavor," said Scorpio. "Managing our business risk effectively and finding the right risk management partner were two necessary elements before we launched Getaround." The full interview can be found at: http://www.youtube.com/watch?v=6f2v0y-rNy0
"Firms face a wide range of business and risk management concerns associated with operating a shared service business. Essentially, risk management concerns surround the areas of shared ownership, responsibility and usage. The collaboration and sharing of assets create unique insurance and risk management challenges for many of these firms. The insurance industry has been slow to adopt, providing these customers without the insurance protection that responds to their unique exposures. This creates the need for customization and specialization," said Julie K. Davis, founder of RiskCommunities.
In response to the rising expectations imposed by new regulations, and the growing number of technology firms operating a "sharing economy" business model, RiskCommunities has developed a unique approach to helpings companies, public and private, improve their response to the market opportunities.
RiskCommunities is a non-profit and network of business advisors that aims to help firms with special business and risk management challenges. TechRisk Institute aims to educate the technology industry about emerging business and risk issues important to their industry. More information about RiskCommunities can be found at http://www.riskcommunities.com