Micro insurance become the trends of the time

2018-05-22

Micro pay, micro movie, micro emoji, micro charity… ‘Micro’ seems to be the new trend these days, and the cheap cost of micro insurance make people enchanted.

With the development of ‘micro’ culture, micro insurance based on new technology such as blockchain has been standing out.

A traditional critical illness insurance require decades of payment, and so much things would change during this time. People prefer tangible protection, aviation delay insurance for example.

Obviously, micro insurance fits this fast-pace time very well. People could choose their protection flexible and afford the premium easily. Compared with micro insurance, the high cost of distribution and operation make traditional insurance can’t be popularized though it has many advantages.

When some insurance agents recommend products to their clients, they would put extra emphasis on product which can bring them high commission, but not suitable products. So micro insurance is not in their list of recommendations.

Such situation has been improving now. with the combination of insurance industry with new technology such as blockchain, internet of things and big data, the entire industry would be overthrew.

In this background, insChain has researched on the demands of clients and try to combine micro insurance with blockchain technology. Now insChain has launched multiple ‘mutual aid program based on blockchain’ and become a leader in this new industry.

Moreover, insChain encouraged users to participate in the designing of products. Users could be the owner of the product and build this mutual community with insChain together.

Take ‘insChain children book protection mutual aid’ as an example, insChain has designed this product for parents who cherish books.

1-5 years old children may has a tear-sensitive period. Children would use their hands to touch this world in this period. The voice of paper being tore apart make them feel happy. Parents could prestore a few money to become the member and once children tear their books accidentally, compensation would be distributed to their account.

Difference from big insurance company which has thousands of employees, mutual insurance based on the blockchain technology, cost of human resources and operation has been decreased.

More exciting thing is that mutual insurance promotes the interaction between members. For example, after the launch of children book mutual aid, parents said many ways to prevent their children from tearing books.

After communication about new product, user stickiness keep growing. The interaction with insurance gradually change to low amount but frequently from once a year.

Do you get how micro insurance get so popular? Every demands could be agreed by many people since there are billions of people in this world. Every demands should be valued, insChain would customize your exclusive mutual aid project by your demand.

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Official website:inschain.io

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