SplitEx is an app-based service where the users share the risk of unforeseen cost with each other. The purpose of the service is that no one should have to pay for nothing.

The insurance industry today offers security only after receiving a fixed monthly fee.

Customers pay their premiums in advance and whether they make a claim or not the insurance company retains all the money, or at least a clear majority of the money.

By creating SplitEx-groups that share the possible costs for incidents we can stop overpaying these large companies. Some of us will be lucky, others won’t, but none of us knows who will end up in need to make a claim. However, what we do know is that, today we pay a lot more than it costs to repair the damage. We pay for large organisations, slow processes and big profit margins. It doesn’t have to be that way.


By creating what we call SplitEx-groups we have found a method of staying safe while avoiding unnecessary cost. As a group member with SplitEx, you only pay a membership fee if nothing unexpected happens. In case any mishappening occurs you always have your group to your support.

The app enables you to gather and access all the information about your profile at one place. You can also make your claims and update your profile through your mobile. It is a very convenient and time saving way for us and users to have a one click access to all the information.

A report will be compiled every month about the claims made in each group . This report will have the details of the amount that has to be beared by each individual for that month. This way you will not be paying for anything in vague but will be paying for something that has actually happened.


The insurance industry is built upon a genius money making idea . This brilliant business model works for the businesses flawlessly as the customer is made to pay in advance for something which is uncertain.

Usually, customers make no claim to their insurance company. Therefore, the insurance companies don’t have to pay out any huge benefits. Yet, almost no refund is made and the companies still keep majority of the premium paid by the customer.

Obviously, they have their offices, staff, and other overhead costs to pay even if they pay out no compensation. But do you realize that all these expenses are taken care of through your insurance premium? This means that for staying safe you have to pay for all their damages and profit margins. Your loss is their profit, we don’t think that’s fair.