VouchForMe: Making insurance more affordable
VouchForMe is an online social proof platform for gathering guarantees. It operates as an alternative risk assessment tool in which individuals express their trust in the behavior of a friend or family member in the form of a financial guarantee. Collected guarantees create grounds for insurance companies to offer more favorable and affordable insurance solutions to end customers.
By establishing the chain of trust Insurance companies benefit from less fraud, lower loss ratio, a new marketing and sales channel for addressing the millennials and generation Z, and an effective peer-to-peer prospecting tool with a great network growth potential.
Create Social Proof
Sends policyholder's specific data from the insurance company to the VFM platform, so the policyholder can log in to the VFM platform and starts inviting and manging social poofs.
Create Guarantee Collection
Sends policyholder's specific claim data from the insurance company to the VFM platform in order to notify the guarantor(s) that a claim has occurred and been reported to the insurance company.
Resolve Guarantee Collection
Sends policyholder's specific claim data from the insurance company to the VFM platform in order to notify the guarantor(s) that a claim has been approved and settled by the insurance company and that a policyholder might start collecting the given guarantees.