Applying behavioural insights to charitable giving

Reciproco exists to take care of the things that matter most to you; the possessions you value and the causes you care about.

Our basic proposition is very simple - Together, we do good.

You could emphasise the together part of this, or the good part. We emphasise the doing part.

We believe people naturally want to do good already.

There has been a lot of hype recently with Peer-to-Peer carriers incorporating Behavioural Science in their business models. This raises some questions for both start-ups and existing insurance intermediaries.

Our vision is to create a company that puts protecting what matters to you ahead of protecting our profit. We’re not about us; we’re about you and what you care about. We are the only insurance provider in the market to make this bold statement.

We also know it is only what we actually do that can make a difference to people’s lives.

How do these Peer-to-Peer models operate?

Some peer-to-peer insurers provide a ‘giveback’ at the end of the year, which is subject to both Board discretion and only paid if there is any money after claims have been paid.

The role of ‘Affinity Partnerships’

Affinity Partnerships already exist in the insurance market. This involves intermediaries passing back commission to trading entities set-up by charities, in exchange for the charity ‘promoting’ them to potential customers.

Trading entities operate as Social Enterprises that ‘gift aid’ 100% of their Net Profits back to the charity. However, only after expenses have been deducted i.e expensive offices, salaries etc.

So how do we demonstrate the doing part?

We do things differently. On Day 15, after the cooling off period, we make an upfront, guaranteed donation of 50% from the commission of your purchase, to a charity of your choice. You will receive confirmation once it’s completed.

There are NO strings attached and there is absolutely NO small print.

Why are we revolutionary?

Reciproco is bringing transparency back to the market. Not only are we putting the customer back in control of deciding which charity should benefit, but we are donating before our costs are deducted.

This means you can provide even more help to the charities and good causes you are passionate about. There is no other provider in the market that is prepared to do the same.

It’s not just about the donation - by pooling customers with niche insurance needs, we can get you a better deal than if you approached the market directly.

We’re creating insurance communities of like-minded people, for the benefit of communities.

We know that customers are happier when given the opportunity to donate for the benefit of other people. Charitable Giving is good for donors, for beneficiaries and for society at large.

We also know that by making the process of donating easier and quicker to do, we can encourage charitable giving.

As we approach our launch date, we will explain how we intend to automate this process; becoming a force for good has never been so easy.

Register your interest and be a part of Reciproco’s mission.

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Reciproco - c/o Insurance4Good Limited  |   4th Floor  |   124 Goswell Road  |   London EC1V 7EJ

Reciproco is a trading name of Insurance4Good Ltd, which is authorised and regulated by the Financial Conduct Authority (Financial Services Register No 739478).