Max Gap Plus was founded to provide superior insurance products. This is made possible by utilizing state of the art technologies, which results in lower company overhead, which we pass on to the consumer in the form of better insurance coverage with additional benefits, such as our down payment assistance program.
Insurance Industry Issues & Proposals
for use of Blockchain Technology
Inefficient exchange of information
Limited underwriting accuracy
Complex liability assessments for syndicates / reinsurance
Use of middleman
Fragmented data sources
Manual claims review and processing
Enable trusted and verifiable provenance information.
Provide transparency on existing or past insurance policies and claims associated with property and/or insuree.
Enable shared interface with trusted third-party data providers (i.e., real state registry, notary services, public records, etc.).
Improve accuracy of pricing through transparent quantification of risk and disintermediation of third-party intermediaries.
Provide digital smart contracts to capture obligations and terms binding the insuree and insurer.
Enable capture of immutable, trusted, and verifiable information based on digital cryptography.
Provide fast, seamless, and transparent experience in binding policy to insurees.
Provide trusted and verified submission of claim data and/or documentation.
Enable automated pre-assessment of the loss coverage against the policy.
In case of smart assets/properties, enable claim to be securely and automatically submitted without human intervention.
Automate process to engage repair and assistance providers to reduce response time and ensure use of preferred suppliers.
Provide access to validated external data through trusted sources (i.e., oracles).
Enable automated determination of loss liability Enable automated assessment of loss coverage for syndicates / reinsurance.
Enable programmable escalation to human decision making in case of complex risks.
Payment and closure
Provide automatic payment to insurees through smart contracts.
Provide immutable and transparent proof of claim settlement.
What It Is and How Can It Benefit You?
Reduced processing cost and time.
Instant availability of accurate current information.
Act as a catalyst to accelerate the use within the industry of structured and semi structured electronic documents rather than scanned paper, thus reducing costs and leading to fewer errors.
how it works?
Token Generation Event
Jeffrey A. Barnett
Eric I. Cogen
A.I., R.P.A, and Machine Learning Technical Advisor
Risk, Insurance, and ReInsurance Advisor
Business, Financial, and Technical Advisor
MaxGapPlus aims to build the worlds most technologically advanced insurance product. Our first product will concentrate on the $1 billion+ yearly automotive GAP insurance market.
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