I could see AirBnB reselling someone else's insurance perhaps. I agree it's less likely they'd run the actual insurance business themselves. Besides the capital

I could see AirBnB reselling someone else's insurance perhaps. I agree it's less likely they'd run the actual insurance business themselves. Besides the capital and compliance parts, property insurance is also fairly labor-intensive, requiring a large organization to do it on a national basis (let alone international). Claims investigation is pretty fact-specific, requiring you to have staff on the ground more or less everywhere you sell insurance, who are able to interface with police departments, inspect properties, investigate fraud, litigate claims, etc. (And if you skimp on the claims investigation bit, you'll get eaten alive by scammers with false insurance claims.)