As technology continues to shape our world, it’s no surprise that industries across the board are being transformed. One industry that is particularly ripe for disruption is the insurance industry, and FinRock is a startup that’s leading the charge. Founded in San Francisco, California, FinRock is an InsurTech company dedicated to the transformation of the art and science of reducing property crime and insurance fraud events.
Agnostic Platform for Identification
FinRock’s core product is an identification type agnostic platform that enables users to create personal inventories of their possessions and link them to any current insurance policies they have. The platform provides benefits to users in several ways. Firstly, it helps identify property that has been stolen, facilitating its return to the owner. Secondly, it ensures that adequate insurance coverage is offered that reflects the user’s actual needs.
Real-time Information Sharing
Through associated mobile apps, FinRock’s platform provides law enforcement, insurance providers, and even secondhand dealers with near real-time information on the status of an item. If an item is found to be stolen or lost, it can be returned to the owner, who is notified of its location. This also means that in the case of hotels, universities, or hospitals, a lost item can be found as the item just needs to be scanned to notify its owner that it has been found.
Ownership Transfer and Active User Base
FinRock’s platform goes beyond traditional property marking that concentrates on an owner number. It allows for the transferring of ownership of an item between users, which adds to the active user base. This approach provides a finer understanding of user needs and allows the targeting of new policies to fill gaps in user policy profiles.
Targeting Developing Markets
One of the unique advantages of FinRock’s approach is that it starts with the things people own, rather than the traditional insurance marketing approach. This provides a better understanding of user needs and allows for the targeting of new policies to fill gaps in user policy profiles. FinRock is positioning itself within developing markets such as South East Asia in advance of user insurance demand.
Conclusion
FinRock is an InsurTech company that’s dedicated to revolutionizing the art and science of reducing property crime and insurance fraud events. Through its identification type agnostic platform, FinRock provides users with a range of benefits, from facilitating the return of stolen property to ensuring adequate insurance coverage. With its focus on developing markets and innovative approach, FinRock is a startup to watch in the world of insurance technology.
Website: http://www.finrockfinancial.com
Twitter: https://twitter.com/FinRockTech
Facebook: https://www.facebook.com/FinRockTech
LinkedIn: https://www.linkedin.com/company/finrock/
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