The secret behind InsurePal`s disruptive model
Isn`t insurance supposed to help people overcome their distress? Years of working in the industry proved me the opposite. I witnessed the rise of insurance prices and the reduction of benefits to the good clients on the one hand, as well as numerous frauds and mischief on the other. This is when I became intrigued: what has happened to the integral values and how could we get insurance back on track?
Insurance is as old as society itself. Through evolution of social systems, it became more and more complex. And complexity also brings different levels of categorization of insured parties, which are currently very unfair. Young and good drivers, for example, have an unfair disadvantage, just because of their youth. They pay full and expensive premiums, in other words: they pay for the mistakes of bad drivers.
Tom (InsurePal co-founder) and I spent almost three years developing the idea that could change and disrupt the old stubborn insurance goliath. We both share the belief the insurance should be fairer and much more affordable than today. Even more, it should play on our personal responsibility and award the behavioral patterns that benefit us all. That is why we are developing InsurePal platform on blockchain technologies that can fully support our idea, our view for the future and bring them to life.
Through social proof even new drivers can get more affordable premiums, because their friends and family guarantee for them. Who knows best what kind of driver are you? Friends and family, of course. And it’s not only for the drivers. The application of InsurePal platform can and will extend to any insurance product, mainly to those are not even yet invented.
“Social proof is something we witness every day. Each time we believe, buy or support something, we (usually) do it because we trust others who support the idea too. Every time we make a conscious choice about where to eat, we (subconsciously) choose the place with the best reviews. Trust is the key word.”
Think about it. Trust plays an integral role when making a arrangement or business transaction, even more on blockchain where the identity is mainly unknown. Can you imagine the boost this will do to the arising new economy? All that, combined with the transparency of blockchain can and will have an enormous impact on society and the way we conduct business. And as more participants engage in projects based on blockchain transactions, the more need for cryptocurrency there will be.
Scaling blockchain solutions and exchanging cryptocurrencies will boost the growth of crypto economy and our hopes and bets are up high. We aim to be a recognizable partner in an enormous insurance business and we invite you to join our journey. It is time we change the perception of dull insurance into something exciting, with new features and possibilities. It is time we engage our extensive experience in insurance and deliver a first-of-a-kind distributed insurance platform powered by social proof guarantee.
There is no better time to be alive and develop amazing ideas on this new technology. It is time we do our part and bring insurance to new demographic.
To learn more about our project, visit our website www.insurepal.io and join us in conversation!
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