Digitalizing trust between friends
VouchForMe harnesses the power of social connections among friends to reduce the costs of insurance services.
The science of social proof
“Social proof is a natural, built-in mechanism within all of us, representing people’s moral compass.”
Based on a personal risk assessment, a guarantor vouches for a trusted friend by means of a financial guarantee. This creates a positive incentive for the friend to act as a responsible insurance client. Through vouching, the entire network becomes more risk aware, encouraging a positive change in behavior.
Digitalizing trust between friends
VouchForMe harnesses the power of social connections among friends to reduce the costs of insurance services.
The science of social proof
“Social proof is a natural, built-in mechanism within all of us, representing people’s moral compass.”
Based on a personal risk assessment, a guarantor vouches for a trusted friend by means of a financial guarantee. This creates a positive incentive for the friend to act as a responsible insurance client. Through vouching, the entire network becomes more risk aware, encouraging a positive change in behavior.
Platform
VouchForMe will provide an engaging customer experience, allowing the end user to easily navigate through the online process of obtaining financial guarantees. The platform is blockchain-based.
Asking for guarantee
Vouching
Managing active guarantees
Platform
VouchForMe will provide an engaging customer experience, allowing the end user to easily navigate through the online process of obtaining financial guarantees. The platform is blockchain-based.
TRANSPARENCY
Exposure to loss is reduced, risk is transferred to higher limits and revenues are settled by diversification.
SELF-REGULATION
The platform is self-regulated as the individuals with riskier behavior are eliminated by their social contacts.
PEER-TO-PEER DATA
Assessments among family, friends and colleagues guarantee objective and real-time segmentation.
COST REDUCTION
Distributed model brings significant discounts and is especially alluring to a generation with significantly lower income.
VIRALITY
P2P endorsements reduce customer cost acquisition and the network grows virally with P2P promotion.
