Millions of Americans are being offered insurance plans for small ticket items, such as consumer electronics and home appliances. Should the consumer accept these contracts? At the same time, millions of Californians living in earthquake hazard areas, do not buy adequate insurance. As a finalist in the prestigious FinCapDev competition, SimInsights developed a mobile application that uses economic utility models to help consumers make smart personalized insurance decisions and avoid being under- or over-insured. SimInsights has partnered with Dr. Manel Baucells of Rand Corporation to tackle this challenge of offering consumers an answer in their decision-making process. In the final round, Smart Insurance won the $5000 honorable mention award which was featured in Forbes.
Key Features and Benefits:
- Manage insurance plans No more looking around for paperwork. Insurance information is securely stored and easily accessible any where, any time.
- Get sound advice Users answer questions to help them assess their habits and receive advice on whether or not to buy insurance products.
- Receive personalized offers If users choose to buy insurance, they can connect with local brokers who can help them find the best plans.