In today's world, Insurance is mainly reactive. In other words, the whole claims process is triggered once an event occurs. Our vision was to reverse this process, and get the claims process started before the client even realizes there is an issue.
What it does
Homesure relies on IoT to quickly detect accidents. It alerts the user via SMS when it identifies something wrong, and prompts them to enter data that could be used to evaluate the claim (picture, verifying personal info, etc.). The user can then view the status of the claim through the web dashboard.
How we built it
Of the three major components including accident detection, a chat framework, and an evaluation system, we focused on the chat framework since it drives the preventative goal.
Challenges we ran into
Limited hardware - we could not get access to sensors to prototype accident detection.
What we learned
We learned how to design a workflow process to make customers happy. In addition, we learned how to design an application from the top down in order to facilitate modular designs.
What's next for Homesure
Complete, interactive dashboard for viewing status of claims. Incorporate policy information questions into chat bot. AI system for predicting payouts based on inputted images, and other data features.