Short Stories With the Management Team; Jacob Westerlaken

I joined the InsurePal just before the ICO and came to the team bearing an extensive background in traditional insurance, which is why I had several question marks floating around my head when Tom and Matt asked me to join the team.

Coming from the old fashioned insurance industry there were many reasons why I was cautious and hesitant this might not work, but after carefully studying the project and going through numerous talks with the team, I realized there are 3 big simple reasons why this actually will work and why InsurePal can make a huge difference in the insurance industry:

1. You can get a big discount when you find somebody who vouches for you
2. You can get a nice reward if you vouch for somebody else
3. The system is built in a way that the insurance companies will get much better clients

Having discussions with both clients and insurance companies these reasons have led to several concrete cases across different countries in which we are currently working on. And each of these cases gives a brand new insight into the market.

As we strive towards becoming the world’s first insurance service offering trust it is important for us to present our project across the globe and penetrate the global insurance market at a steady pace. At the moment we are working to establish partnerships in 3 different markets, however ones with less traditional insurance players and who are more open to innovation are obviously a lot more important for us in this stage. For the reason that this project is based on sharing risks with your friends where in the traditional model the insurance company is taking the risks.

Being mainly involved in the client relationships and the development of the partnerships it gives me the right (and honour) to publicly announce that we are currently in the final stages of signing the first agreements!

But of course, this is something that we will present in one of the following newsletters.

Stay tuned!