You probably already know that we only take a fixed fee from your monthly price and that the rest goes to a common pool for whenever a Hedvig member needs help. And if there’s anything left in that claims pool at the end of the year, we donate it to charity. Read more about that in our business model.
But how do we decide how much each member should contribute? First and foremost, our goal is always to set prices that are as fair and accurate as possible. You can think of it as bringing food to a pot luck party. If you are a family of four, you bring more than if you are a 21 year old living by yourself.
Our goal is to change prices as little as possible We put a lot of effort into giving you the right price from the start, in order to make that price stay the same for as long as possible. But sometimes things in your life or in society change. For some reason, you might need to bring more to the pot luck party.
Once a year, we will evaluate prices to make sure no one is contributing too much or too little to the common claims pool. Some will get a decrease and some will get a price increase. This will be the case when our evaluation shows that their original price was set too low. We increase some members' prices, to make sure we’re fair towards all of our members.
When calculating prices, we look at a number of factors Your individual price is the sum of a number of factors that we look at in order to find a price that is as accurate and fair and possible. Here are some examples of factors that can influence your price:
As a Hedvig member you can always take things in your own hands and lower your price with Hedvig Forever. When you invite someone who joins Hedvig with your code, you both get 10 SEK discount each month, and keep it as long as you’re both members. This means that if many friends join, your price will eventually be 0 SEK.
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