NeoInsured is transforming insurance through a collaborative approach rather than being the competition by serving as an aggregator of diverse offers from multiple providers

The insurance industry is composed of many companies, most of which offer the same services. The difference in these insurance companies might be the prices or premiums each user has to pay for their insurance needs. Therefore, the more significant demand in the market is not another insurance company driving up competition but an aggregator of diverse offers from the many providers currently in the market.

NeoInsured has collaborated with the insurance providers in the market to offer aggregator services rather than providing varying insurance features. NeoInsured includes information on different insurance products offered by insurance companies and allows users to compare the different insurance products along with their features and prices. The main goal of NeoInsured is to educate users by making them aware of all insurance products in the market and their features.

The alternative to NeoInsured are agents who charge different fees depending on the consultation period. Their information might be biased based on their preferences and not facts about policies or companies. Their rates also differ from one client to another.

Therefore, a transparent, digital, and highly regulated platform like NeoInsured minimizes the malpractices in the market and eliminates the unnecessary commissions by insurance agents. Thus, the features of comparison of policies offered by different insurance companies allow customers to make more informed decisions for their insurance needs.

The future of NeoInsured through Blockchain technology

NeoInsured is leveraging the blockchain technology to offer a better platform to its users. The blockchain technology is decentralized, transparent, secure and immutable. Information stored on NeoInsured cannot be changed easily, therefore, insurance companies will need to provide correct and timely data about their policies and services.

The creation of a blockchain-based platform will allow NeoInsured to offer its token, iNeo coin, which will give rewards to users. The token has a chance to grow in value in future based on the success and demand of the NeoInspired platform. Therefore, users have a chance to gain more value from the rewards they amass from participating on NeoInsured.

NeoInsured will use artificial intelligence to optimize the user’s insurance needs and allow them to access the best insurance the market has to offer. Through the technology, all user data will be secure. Sharing data on the platform to access the optimized insurance information can be risky. However, the security provided by the blockchain technology means that the platform cannot be breached. Thus, users will have more trust on the platform, and can share sensible data in exchange for optimized information.

NeoInsured will also be decentralized which solves trust issues. In a decentralized system, there are protocols that allow it to function without a governing body and all users and insurance companies can interact without interference. The trust in this platform will be higher as all parties understand that information provided is not biased or manipulated.

NeoInsured is building a platform that will allow users to get optimized insurance data any time, earn rewards, and more customers for the insurance companies.