BitClave

Is Honesty Possible? Getting Customers To Tell The Truth

Customers don't always tell the truth, and that can be costly for both sides of the deal.
Car insurance is an industry where absolute transparency on the customer's side is not a common thing. While drivers may think a little lie doesn't hurt, you know how much money you stand to lose due to false applications. But can the situation be improved?
A Lose-Lose Situation
One in ten Americans lie about mileage on their car insurance application, as well as provide wrong information about the number of drivers per car, or even the vehicle they are driving. In response, insurers have to add hundreds of dollars to the base policy cost.

This situation is a loophole for customers who keep trying to save on insurance premiums by fudging information. As a result, prices grow and insurers are reluctant to address this problem because it's costly and risky to customer relationships.

How BitClave Can Solve the Issue
BitClave Active Search Ecosystem , or BASE, allows customers to keep their privacy by using an encryption system powered by blockchain. A system that gives the opportunity for drivers to keep their privacy is a needed today, and BitClave has come up with a new way to address it.

The BASE ecosystem allows customers to anonymously provide information to the insurer about their current insurance policy, driver's license and any details that are needed for a preliminary application.
Saving Time, Money
The system can also be extremely effective for insurers, since it makes the search for a perfect client time and cost-effective. It can reward users who provide accurate details about their location, age, gender, marital status, driving experience, driving record, claims history, credit history, previous insurance coverage, vehicle type, vehicle use, miles driven annually, coverages and deductibles.

The insurer can use the BASE ecosystem to find these customers and provide them with special offers that will get them interested in their policies. Thus, both parties can benefit from the service, especially regarding costs saved.

Why not make a change in the insurance market using a new disruptive technology? Join BitClave for a transparent car insurance market and build deep professional relationships with your customers today.