Welcome to share&care
We have developed an innovative solution for protecting mobile devices. share&care is a community-based approach instead of a traditional insurance product, providing a transparent and lower-cost risk management solution, which was implemented using the blockchain technology. The concept of share&care is simple: Participants pay a monthly fee into a pool from which the cost of repairing or replacing members’ personal mobile devices are paid, in addition to insurance taxes and operating costs. The money in the pool is reimbursed if there are limited or no claims which can be up to 78% of the monthly fee. The claims are handled by the community.
We had the opportunity to test share&care for 1.5 years with more than 350 registered users in productive use. During this time we learned that the concept as such, as well as the community-based claims handling works excellently. In addition, we were able to gain in-depth insights into the use of the innovative blockchain technology.
The productive operation of share&care was terminated on 31.3.2020. For those, who are still interested in this exciting project, please find the most important information below.
share&care frequently asked questionsThis section provides answers to frequently asked questions. If you have a question, check here first – you are sure to find something! Your question isn’t here? Then post it on Yammer or write us an e-mail!
The monthly premium depends on the purchase price of your smartphone or tablet. The premium is €4 for up to €400, €6 for up to €800 and €8 for €800 and more. Depending on the claims experience of all protected devices in the respective month, you will get back up to 78% of the premium. Only the insurance tax of 19% and our fee of €0.50 will not be returned.
Latest generation smartphones and tablets that have an IMEI. Proof of purchase is required. If the purchase price is not included on the receipt, we require a screenshot from the manufacturer’s website with the current purchase price. If the device is no longer displayed on the manufacturer site, it can no longer be protected.
The fair value of the device is determined using the following fair value table, calculated from the first of the month following the month in which the device was purchased. For example: a device that was purchased on 8/15/2017 falls into the category “0 up to and including 1 year” until 8/31/2018:
1st year (1-12 months): 95% of purchase price
2nd year (13-24 months): 80% of purchase price
3rd year (25-36 months): 60% of purchase price
4th year (37-48 months): 30% of purchase price
5th year (49 months and more): 0% of purchase price
No. The community forms a monthly compensation fund and determines which claims will be paid by the fund. If the premiums in the fund are not enough to cover all approved claims, the participant will receive proportional compensation. We do not have an insurance contract with you, rather a service contract. The contractual relationship between you and us is not subject to the German Insurance Contract Act (Versicherungsvertragsgesetz VVG). We are not an insurance company. However, premiums for device protection are subject to insurance tax since the protection is considered an insurance service for tax purposes.
All legal-age employees of Siemens who live in Germany and who have one of the following e-mail addresses can sign up now:
Please let us know if your e-mail address is not listed.
Participants who don’t work at Siemens or an affiliated company or who don’t want to sign up using their company e-mail address can be invited to join by a Siemens employee who is registered with his/her company e-mail address.
Submit a claim by logging in to the system and clicking on the tab “Report claim” It is a two-step process: You must report the claim by the 5th day after the end of the month in which the claim occurred. You then have up to 45 days after the end of the month to submit the information regarding the claim and the necessary documentation. This gives you enough time to repair your device (with a receipt), send us the device in the event of a total loss, or obtain a police report in the event of theft.
When making your final claim submission, you should include all receipts necessary to evaluate your claim. It is not possible to change the submitted information afterwards. In the event of a total loss, you must send us your broken device; we will confirm receipt with the review group of the community. You have 30 days after the end of the month to do this.
Claims processing is a two-step process. For both steps, a number of members are randomly chosen from the community to vote on the claim.
The first review group checks all of the information and attachments that were submitted. If none of the reviewers objects to the compensation for the claim within 5 days after the request, the claim is approved and paid.
If a reviewer objects to the claim in the initial round (a reason is always provided), the second voting round begins. In this case, the first voting round is closed and the other reviewers can no longer vote.
The second review group sees the same information as the first as well as the reason for denial from the first voting round. The review group has another 5 days to vote.
After this, the process follows the principle of a simple majority decision (<=50% approve or all abstain mean that the claim will be approved and paid).
If you are selected to become a member of the review group, you will be notified by e-mail. You can select and edit the relevant claim under "Votings." In our experience, this only takes a few minutes.
You will then be able to view all of the information and attachments submitted with the claim. In case of a total loss, you will also see an indication if the device has been sent in to us. Now, you just have to check:
- Does the IMEI in the receipts (repair receipt, police report) match the IMEI provided when the device was registered?
- In case of repair, does the amount of the receipt match the amount of the reported claim?
- Are the documents plausible (is the receipt/police report authentic)?
If the IMEI and the repair receipt match and the documents are plausible, please approve the claim.
If you are part of the second review group, you will also see the reason for denial from the first group, which will help you decide on the claim.
We have found a good balance between usability and security. After setting up the device, basic information can no longer be changed. In the event of damage, there are clear, simple rules; in the event of a total loss, the device is to be sent in to us.
In addition, we assume that in a community of colleagues and due to the relatively low protected values, there is little motivation for fraud.
All premiums paid by participants go into our account. After a 19% insurance tax and our fee is deducted from the sum, the remainder of the monthly premiums forms a calculated compensation fund for the respective month from which the claims related to the month are paid (compensation fund). You can only request compensation in the event of a claim.
To start with, we have provided an additional fund of €10,000 for these instances. This is to ensure that no one is left out if they have a claim that has been approved by the community. Once this additional fund has been depleted, the total of paid premiums is available for the community for claims payments (minus the insurance tax and our fee); if necessary, the individual payments will be reduced proportionately.
Simply de-register your device starting the next month. Find your device in the detailed overview and select "Delete device." We would be happy to provide protection for your new device!
You can delete your registration in the user settings. But first, you should have deleted all of your devices individually and saved all of the information you need, since you won't be able to log in again after you have deleted everything.
Do you have any questions about share&care and our experience?