| Idea Name: |
InTime (InsurTech) |
| Slogan: |
Drive fearlessly |
| Supervisor Name: |
Dr. Ayesha Abrar |
| Supervisor Designation: |
Assistant Professor |
| Supervisor School: |
NBS |
| Supervisor Department: |
NBS |
| Contact number: |
0333-9198141 |
| Email ID: |
[email protected] |
| Abstract: |
| We provide time-bound insurance with a minimum of 1 hour for as low as Rs.7/hour. Therefore, the customer will incur costs only according to their travel time. In case of an accident, the customer will receive adequate as well as repeated coverage i.e. they will be able to avail coverage every time they subscribe to a new package. |
| What is the unmet need in society that your idea will fulfill ? |
| With existing insurance plans, the customer has to incur costs even for the time he/she does not travel but with our plan, you only pay for the time you actually travel, and with repeated coverages, one gets better access to healthcare. |
| Who needs it ? How many would benefit ? |
| Primary market: People who travel daily in Pakistan, students, Motorway and GT Road travelers, cab drivers (Careem, Uber, etc.), Delivery riders (FoodPanda, etc.), citizens who travel via private and public transport
Secondary market: Drivers of companies e.g. petroleum companies' truck drivers |
| How will the solution works |
| After initial registration to the mobile app, the customer can select the hourly plan by entering the starting and ending location and the number of hours. Upon confirmation, the package will be activated. The user will be insured for the specified route and duration and GPS tracking will take place. In case of an accident, insurance can be claimed via the app. |
| Who are your competitors ? How is your solution different |
| Local: Jazzcash, easypaisa, Bykea.
JazzCash,easypaisa provide annual/monthly insurance plans with daily installment plans. Bykea only covers life insurance of its users. However, we provide hourly plans to different customer segments with easy and smooth claim process
International: Revolut, Trov. |
| Status: |
new |
| Entry Date & Time: |
2021-12-21 (0929) |
