Compare Degis and Traditional Insurance
Thanks to blockchain technology, we can provide users with more transparent and efficient protection products.
Think about a recent experience buying insurance. A salesman in a suit and leather shoes comes to you, greeting you every week and giving gifts on holidays. When you want to settle a claim, you need to upload plenty of documents to the insurance company for review, and they may assign someone to verify in person. Except this, a group of elites who graduated from prestigious schools, sitting in the office, and calculating the price of insurance to make sure that the insurance company can always win and make money. Where do these people's wages come from? Nothing comes for free. These high operating costs are ultimately pressured on consumers.
To make more money, insurance companies always set up complex legal provisions and claim settlement processes in the contract in order to delay, reduce and reject claims. You never know how much they get, pay out, and earn. You never know whether they will pay your claim, as well as how much and how long will they pay you. That's because all data and rights are in their hands, and will never return to users. In summary, those traditional insurance companies are like bloated dragons, charging high operating expenses and secretly earning customers’ money.
Blockchain and smart contracts! Blockchain is highly transparent, decentralized, untamperable, automatic, etc. This means we do not need to raise a lot of people to sell, explain, check, payout...All things are done by smart contracts on blockchain. Also, users do not need to worry about everything about claims. If they meet the claim conditions set by the smart contract-based peer-to-peer discretionary mutual protection pools, the funds will be paid to their account and no one can stop it from happening.
Last modified 1mo ago