AMA Recap with Vaiot
Hello! Welcome to Vaiot. Can you briefly introduce yourself and introduce your project?
Sure! My name is Kunal Sadani; I’m the CEO of CoverCompared.
To give a bit of background on myself, I have been based in Dubai (UAE) for over 15+ years. The majority of my experience has been developing, building & managing large-scale B2C insurance products & markets with multinational insurance companies (AIG & Allianz). I have worked in senior leadership roles building products & partnerships in the Middle East & Africa Region. In my last position, I headed the Retail Insurance vertical for Policybazaar (an insurtech valued at over $1billion with VC partners like SoftBank & Tencent).
As a crypto enthusiast myself, I saw that the traditional insurance sector was neglecting the community. At the same time, there was a huge need for insurance products with not many providers in this space. I took the mission to create an insurance marketplace platform that could benefit the larger crypto marketplace, making insurance accessible to anyone and everyone.
Q) We would like to know a bit more about CoverCompared and what exactly makes it different from other crypto insurance providers?
CoverCompared is the world’s first DeFi insurance marketplace.
I wouldn’t call ourselves a crypto-insurance provider but mainly a crypto-insurance aggregator.
Users can compare and evaluate the comprehensive product outlined in a simplified way. The streamlined process makes it easy for users to choose the best-suited policy for their needs.
CoverCompared gives complete transparency on all lines of insurance products listed; it could be any product, traditional or crypto, all with the option of paying in a host of cryptocurrencies.
Our AI-based Claim Management System will assist our users, ensuring that every claim submitted by the user is given utmost priority and immediate attention.
Just with a click of a button, users can submit their claims, and we will offer them a seamless claims management experience!
CoverCompared simplifies the traditional insurance process and offers immediate foresight to the users helping them be well-informed before purchasing the cover.
Q) How do we purchase these policies on CoverCompared? Can you tell us a little bit more about different payment options?
Since CoverCompared is an insurance aggregator offering crypto and traditional insurance products, we give users multiple payment options. The end-user on our platform can purchase using cryptocurrencies.
Our token $CVR gives users additional benefits while purchasing the covers. With regards to the utility, there are several use cases where the token may be used including:
1) Crypto Insurance Policy Purchase
2) Policy Discounts
3) Staking / Risk Assessment & Governance Rights
4) Claims Payout
5) Cross Border Policy Issuance
Q) I’m sure the community is eager to know more about your integration with Vaiot. Tell us more about it!
Joining CoverCompared is a leading business solutions provider. The VAIOT Platform, as an integrated solution, combines Artificial Intelligence and Blockchain to create new ways of digitally accessing services and securely concluding legal agreements using an easy to use user interface.
This partnership will entail CoverCompared exploring Vaiot’s solutions to optimize user experiences on our platform further. Moreover, CoverCompared will also explore Vaiot’s AI Assistant interface to aggregate products and services and distribute them to our users through highly-personalized insurance recommendations.
Simultaneously, Vaiot and their community will also access the CoverCompared marketplace, where the Vaiot community can buy insurance covers for smart contracts, NFTs and more.
Q) What does the future look like for CoverCompared? Do you have any updates on the dApp?
The future looks exceptionally bright for CoverCompared!
We have numerous global insurance providers that we are soon going to onboard onto our platform. Over the next few weeks, we are set to make a few massive announcements, including the onboarding of 2 of the world’s largest traditional insurers. In addition, we will continue to expand the pool of our crypto protocols offerings to ensure that our users are spoilt for choice at CoverCompared, irrespective of what kind of insurance cover they are looking for.
As we expand our network and engage in more partnerships, our global presence and network will continue to improve. We will continue to innovate and revolutionise insurance in the DeFi realm.
As for our dApp!
Our dApp is almost ready.
The launch of the dapp is targeted for Q4 of 2021; we will be the world’s first insurance marketplace that will cater to everyone’s needs — whether they are looking to insure traditional assets, crypto funds, or even themselves. Users will gain a sneak peek at our dapp through a testnet that will be launched soon!
Q) How will this partnership benefit us in the future?
Great question! As part of this partnership, Vaiot’s users will gain access to the CoverCompared marketplace, where almost all insurance needs can be met.
As mentioned earlier, CoverCompared, with the assistance of Vaiot, will also explore the implementation of an AI-based chatbot on our dapp. This AI tool will help users navigate through our app and optimise the user experience. Simultaneously, the Vaiot community will gain visibility and broader market coverage through this partnership with Cover Compared.
Q) What can we expect from this partnership?
You can expect great things from this partnership! CoverCompared is built on foundations of integrity, honesty and complete transparency. Our vast product pool will allow the Vaiot community to find an insurance product best suited to their personal needs. Additionally, users will be assisted by our AI-based Claim Management System, ensuring that every claim submitted by the user is given utmost priority and immediate attention.
Q) What is your best selling point?
Our biggest USP is providing users with a one-stop shop insurance marketplace where any insurance need can be met. We seek to fill the void currently in the insurance sector for cryptocurrency and pave the way for added security protection of crypto investments. Moreover, all insurance products listed on the CoverCompared marketplace (including Traditional) can be bought using a host of cryptocurrency as well as our very own $CVR token.
Q) Is there anything new planned for CoverCompared?
We have loads of massive announcements coming up in the next few weeks. Without revealing too much, what I can say is that CoverCompared is truly going to break boundaries in the traditional insurance space, while also continuing to innovate in the crypto sphere. Additionally, we are also exploring the possibility of launching a staking program for the CoverCompared community.
CoverCompared is the First DeFi insurance marketplace for the global crypto ecosystem. We aim to lower transactional and administrative costs of insurance policies and coverage while providing high-value, cost-effective insurance products bought using a host of cryptocurrencies.
Our platform will be connecting users with multinational insurance providers for all global insurance products such as crypto-related protection, health, life, and travel policies. The platform will include a frictionless insurance marketplace experience that incorporates next-generation blockchain technology and tokenized incentives.
VAIOT offers a portfolio of blockchain-based AI Assistants for businesses and consumers to supply automated services and transactions. Faster, easier, and affordable. Delivering full-stack technology solutions in AI and Blockchain.
VAIOT combines Artificial Intelligence and Blockchain to develop a portfolio of business-oriented Intelligent Virtual Assistants serving both consumers and business as a new, digital channel for selling and delivering products and services as well as making transactions. Furthermore, VAIOT offers solutions for the decentralized insurance and decentralized law ecosystem.