Blockchain puts customers back in control of their data.
DEREK: We’re an aggregator of insurance agencies, we’re an aggregator of insurance products, and we’re an aggregator of insurance technology. We’re no longer a platform. We’re no longer a software company. We’re truly this environment—this ecosystem—in which commerce exists.
PHIL: Our entry into the system comes from the technology piece we built called the InsureBio. It’s an app and a tool the insurance agent can use to create the insurance profile of the customer. The insured creates a profile that answers all the questions that are needed to purchase the type of insurance they’re acquiring. That information is connected to an agent that’s in our ecosystem, whether it’s their current trusted agent that they do business with or they’re just looking to find an agent to access the products that are in the insurance marketplace. And if their current agent isn’t already part of the ecosystem, we bring them on and give them permission to access the information that their insured has given them access to.
DEREK: We’re getting the data from the insured and passing it into our intelligence appetite engine. The carrier comes into our system, they program what their appetite is, and we match that up. We’re that last mile between your management system and your actual sale.
DEREK: The consumer is losing trust in the insurance economy. That’s why they’re going to all of this other, the peer-to-peer, because what’s happened in the health industry has made everybody think it’s a scam and it’s not right.
PHIL: We’ve added on a partnership with a company that has imaging, and we’re working on this proof of concept that, if you take a picture of an item of value, it will produce an insurance quote kind of real-time and connect them to our agents, who can actually offer that product.
DEREK: We’re also working with an AI company that has a proprietary algorithm to detect and predict customer engagement, and we’re putting a scoring in that to allow us to tell agents and brokers how engaged the actual consumer is within the process. That’s going to be really key.