5 Key Features of the Tezsure Insurance Platform
At Tezsure we want to fundamentally change the insurance industry. In traditional insurance little attention is paid to user convenience, personalized insurance plans and claim management.
We are aiming to build and provide insurance solutions that have the following qualities:
- Personalization:
Risk assessment, underwriting, and claim management are done in a personalized manner on the Tezsure platform. All of these processes depend on various data points collected from the user. Usually, in traditional insurance, a form filling process provides 20–25 data points about the user. On our platform, automated processes can generate up to 120 data points about the user to make our plans more personalized.
2. User convenience and experience:
The Tezsure platform will be easy to use and easy to understand because there are no hidden costs or hidden term and no complex process flow. Every insurance product that is listed on the marketplace is validated by research and development, so the user just needs to choose from the various options of available insurance products. After that, it’s just a simple process flow which includes user verification, premium calculating, policy agreement and deployment. The Structure of the platform is easy to understand and use so that the user has the best possible experience.
3. Marketplace structure:
A platform with an inbuilt marketplace is always more convenient and easy for users. This way they can explore a variety of options that fit their needs. Tezsure will evolve into a marketplace of different insurance products, starting from one initial product in the form of our Beta.
4. Decentralization:
Best practices are used on the Tezsure platform to hand over central authority to the users in individual insurance products. All the processes are designed in such a way that the final decision about every claim either is a predefined automated process or a collective effort of the distributed network of oracles. As the platform grows, new practices will be adopted to keep the decentralization factor of our platform one of the highest in the industry.
5. Claim Management:
Claim management is a key portion of every insurance business model. Generally, insurance companies try to keep the number of claim payments as low as possible to increase profits. Believe it or not, it’s their way of generating profits and it doesn’t represent a good model to value and serve your customers.
“This conflict of interest makes insurance one of the least trustworthy industries out there: Only about 10% of people trust insurance companies. (Insurance Business Mag)”
In order to make users trust the insurance industry, insurance should be done the way it’s supposed to be. For people, by people. This is the key motive of Tezsure.
Tezsure gains nothing by delaying or denying claims. Our insurance pool smart contracts are designed in such a way that Tezsure can’t take money out of the pools if a certain amount of claims are not filed. The money just stays in the smart contract, controlled by the users.
We’re soon launching a new website with more information. Stay updated!
