BC4NB Blockchain for the Next Billion

BC4NB helps insurers reach the “Next Billion” consumers through technology such as Blockchain & AI by offering end-to-end digital
Our product is 10x better experience for insurers and for NB, all the process is digital: web or mobile based, the purchase and issues of policies is digital and the claiming process is digital.
We offer a digital ecosystem, whose objective is to integrate each movement with blockchain to be transparent, cost efficient and disburse fees and payments within minutes, we estimate to save between 70%-85% of operations and conciliation for the Insurance Company

We developed the product "COVID protection plan", which is an indemnity insurance that provides coverage in the event of hospitalization due to accident or illness or COVID-19. Contracting is done digitally on our platform quickly and easily. The product launch was carried out in a time to market of 11 days.Currently there are sales for more than 14,000 policies
https://planproteccion.gpo-sep.com/

We are currently developing other insurance products to be launched in S1 2021

Our target market is the people belonging to the upper part of the Next Billion
Urban, semi-urban (populations between 10,000 and 100,00 inhabitants)

Primary market
Men and women
Age: Range from 18 to 25 years and above 45 years
Disposable income of $ 10 to $ 20 USD per day (PPP)

Secondary market
Men and women
Age: 25-45 years
Disposable income of $ 2 to $ 10 USD per day (PPP)

From 2010 to 2020 one billion people (the Next Billion) left poverty, having for the 1st time disposable income and necessity of almost every service to be adapted to the way they consume. There are 75 million people of NB in México (7th global contributor), from USD2 to USD20 (ppp dollar)

In Mexico's GDP there is a 2.3% penetration of insurance compared to 6.3% in Global GDP.

Insurers´s problem:
- Cost effective service is a big obstacle
- they don´t see demand for insurance in the low income population
-there aren´t distribution channels
- they didn´have time to get it

NB´s problem: insurance are expensive, not easy to use and unknown products

Our objective is Closing the gap to insure the Next Billion.
We have a product that is 10x better experience for insurers and for NB, all the process is digital: web or mobile based, the purchase and issues of policies is digital and the claiming process is digital.

Is based on the experience on next billion, is affordable, simple and supportive. The digital platforms allow more efficient time to market.
1. DIGITAL SALE PROCESS
2. UNDERWRITING & COMPLIANCE, policy is issued within seconds
3. PAYMENT, instant payment through wallets to insurers accounts
4. CLAIM PROCESS, fast & intuitive claiming process with just pictures of diagnosis. Validations through AI & metadata, Smart Contracts for payments release within minutes on customer wallet.

Main competitors
In Mexico, the competitors among others are: weecompany, mango life, zendala, miituo but they don´t have automated claiming.

Global competitors, there are among others: Galileo platforms, Lemonade, brella, Toffee insurance, solve care and ZhongAn Insurance.

Digital process End to end: which reduces costs, for the insurer since it is a web or mobile based and for the NB with affordable costs.
We integrate an ecosystem where we will have the best service providers serving the client (insurer, agents, wallet, among others), instead of us developing all the tools to serve the NB, we rely on the best players in the market through an open ecosystem.
We integrate the sale into existing channels, wallets, microcredits, debit cards, retail.
We offer insurers a new market and digital processing that connects with them through APIs
The entire ecosystem is organized through Blockchain and a middleware that allows efficiency, transparency and security.

We are in the process of preparing financial projections.

The product "COVID protection plan" has a price of 20 USD dollars. The total amount of commission is USD3.79, and after splitting with the sales channel the amount for BC4NB is USD1.5 . On this logic, 14k policies at USD1.5 results on USD21K income

PROCESSING OF NEW POLICIES. Revenue from automated processing of policies created ad hoc for BC4NB ecosystem (underwriting, payment collection, claiming process, claim payment)

In the future:
POLICY SELLING FEE. Fees from policies sold through BC4NB ecosystem (digital wallets connected)
PROCESSING OF EXISTING POLICIES Revenue from automated processing of policies that are being sold yet by insurers (underwriting, payment collection, claiming process, claim payment)

Tech development
Marketing
Launching new projects (grow in Second Market)

10%

Derived from the innovation that implies the implementation of technology throughout the digital process, from the sale, underwriting & compliance, payment and claim process, the regulatory areas of insurers present some resistance at the beginning due to the complexity involved in making the changes to your legal, technology and compliance processes, among others.

We have not previously participated in any other program

We have not previously participated in any other program