InsChain: Blockchain-Based Insurance AI & IoT Technology?
Founded by American actionaries, investments and insurance experts, as well as risk management specialists and artificial intelligence professionals, Inschain is a new digital insurance project based on the blockchain system. This concept is to create a platform that’s able to support new insurance business models.
The aim of this innovative project is to design a groundbreaking platform using artificial intelligence and blockchain technologies to revolutionize the insurtech industry. The Inschain team is looking to overcome the fact that a wide range of individuals don’t trust insurance processes.
Inschain Community, is a new model based on coworking, solidarity between members and transparency. The motto behind this idea is “All for one, one for all”. Basically, members can join forces on a mutual project and help each other in case there a problem arises. This can be applied to a business idea as well as to a house, a pet, or a person.
In order to be part of a mutual project, members have to pay a small amount of funds so that in case a significant problem like the accidental death of a member occurs, the project will donate a certain amount to the deceased's family. This is done by evenly deducting a little bit of money from the others that are part of the project.
This type of insurance is, therefore, based on mutual-aid. One of the advantages of Inschain is that its concept can be adapted to any idea. The mutual project can be customized to users’ needs. For example, there can be an Inschain Million Accidental Death Mutual Project or Dog’s Owner’s Third-Party Liability Mutual Project.
The platform uses artificial intelligence and chatting boxes in order to provide customers with instant answers to their questions and put them at the center. The Inschain management team is constantly on the lookout for new ways to improve their customer service. Moreover, this platform provides users with the opportunity to contribute in product designing by submitting their ideas via facebook or email. Participation is a key element of creating a strong and growing group like the Inschain Community.