SuchApp and WishKnish to Bring Insurance to the Blockchain
SuchApp (UK) and WishKnish (USA) are coming together to be the first to introduce an insurance marketplace that operates on the blockchain. This collaboration will see SuchApp — the innovative blockchain-powered messaging platform — and WishKnish — the decentralized network of gamified, coin-agnostic, social marketplaces — joining forces around WishKnish Storefront technology to co-develop a decentralized business ecosystem that makes insurance management more efficient for both insurers and customers.
“The global insurance market is growing by leaps and bounds in both developed and developing markets. The global insurance premium is currently worth more than $5 trillion USD, and while premiums and insurance capital are growing, so is the demand for better customer service,” said Ronny Shany, CEO of SuchApp and co-founder of HighTV. “Our goal at SuchApp is to create a global insurance marketplace that increases customer service and communication between clients and adjusters, while integrating the features of WishKnish in order to provide a secure and convenient marketplace that benefits both the business and the customer”.
SuchApp’s 5G blockchain-enabled realtime messaging platform empowers businesses to engage with customers. With SuchApp taking the first step into the global insurance market, the company intends to expand upon their current business model by creating an easy-to-use platform where:
● Customers can buy insurance policies using SuchApp’s SPS Token, a digital currency operating on the ERC20 protocol.
● Customers and insurance companies can manage policies instantly over the SuchApp platform.
● Insurance adjusters can use SuchApp to create customer service groups to address claims and any other relevant issues.
● Location-based messaging that gives insurance companies the opportunity to focus specifically on local markets.
“We are both proud and excited to see our technology being used to advance mainstream blockchain adoption,” said Alisa Gus, the CEO of WishKnish. “By providing a secure, decentralized platform that increases transparency and is protected against failure and tampering, we are able to leverage blockchain technology to ensure customers and insurance companies are better protected against fraud.”
WishKnish, the social, gamified marketplace platform based out of the Washington, DC area, has been making great strides in bringing transparency, fairness, and ease-of-use to diverse retail participants — from innovative startups to charities to under-banked or under-retailed global communities typically lacking the infrastructure, means, and influence to participate in global retail commerce:
● Customers can earn gamified rewards by reaching predetermined behavior metrics, effectively improving their value as insured customers and retail participants.
● Transaction fees are only a small fraction of those in “legacy” retail marketplaces.
● Tokenized purchases are stored in each customer’s wallet, creating a permanent, immutable paper trail of ownership and licensing.
● Decentralized marketing principles ensure that under-represented communities receive a fair shake in getting discovered by visitors, customers, and donors.
Insurance companies operating on the two companies’ platforms get access to all of their combined feature sets, like SuchApp’s innovative personal and group VOIP conferences and WishKnish’s marketing and promotional tools and loyalty programs. All correspondence over SuchApp’s platform is fully encrypted, meaning that sensitive information is protected against outside threats, while WishKnish Storefront technology ensures that customers can be incentivized towards behaviors and actions that benefit them and their community and payments are handled in a coin-agnostic fashion.
SuchApp aims to corner a portion of the global insurance market that is looking to insurtech companies that are challenging the way traditional insurance businesses have operated. WishKnish continues to expand its global businesses in retail commerce and Blockchain As A Services (BaaS) to bring their customized Blockchain solutions to corporate and Government clients.
Michael Kapoor, COO of WishKnish, responsible for the BaaS arm, is keen to not only develop their custom solutions in the United States but sees this as a global market:
“This is a legacy industry which is ready to be infused with Blockchain technology. Technology transcends borders, and we will deliver our services globally as we continue to innovate and transform their methodologies by adding efficiencies and growing the customer base.”
In this collaboration, the two companies intend to solidify their position as a multi-faceted business tool that enables insurance companies to stay connected with customers, create marketing campaigns, and expand their customer base.
About WishKnish: WishKnish offers businesses, affiliates, and non-profits a decentralized marketplace platform for launching gamified, socially-engaged storefront communities equipped with the tools to turn regular users into super-fans and evangelizers while streamlining coin-agnostic e-commerce and fulfillment, as well as offering advanced blockchain-as-a-service tools to meet enterprise clients’ needs. WishKnish began launching its first beta storefronts in the Fall of 2017.
About SuchApp: SuchApp combines best-of-class messaging with the power of a social network architected over a robust, enterprise-level blockchain economy to create the world’s first 5G messaging ecosphere. Developed by Footprint Media Holdings Corporation, it will be the single point of contact for socializing, buying, selling, trading and making payments. SuchApp launched its alpha version in January, 2018.