Idea Details

Team and Contact Details

SNo Student Name School Degree Year Email
1Usama Awais ChaudrySMMEUndergraduateFourthusamaawais1995@gmail.com
1Ali FarooqSEECSUndergraduateFourthfahad@easyinsurance.com.pk

Inter School Idea ? Yes
Do you need expertises from another area: No
If Yes please provide details of expertises you need:

Idea Details

Idea Name: Easy Insurance
Slogan: A Risk Free Pakistan
Supervisor Name: Madeeha Parvez
Supervisor Designation: Assistant Professor
Supervisor School:
Supervisor Department: SNS
Contact number: 03315475414
Email ID: easyinsurance.pk@gmail.com
Abstract:
    Easy Insurance is the Pakistan's first online insurance comparison and subscription website. It's a personalized plan generator and dedicated insurance awareness portal.
What is the unmet need in society that your idea will fulfill ?
    Insurance has always been looked down by the masses of Pakistan. In all the first world countries, it's compulsory to acquire insurance. Whereas in Pakistan, due to unawareness about insurance, people don't know about the benefits of insurance. It will help the community in accidents and finances.
Who needs it ? How many would benefit ?
   The age of ideal customer varies from 25-55. It's the untapped market of Pakistan. Only 5% of population of Pakistan is insured. According to Insurance Association of Pakistan, there's an annual growth of 15%. In 2016, the total premium was 253 billion which is 1% of Pakistan's GDP..
How will the solution works
    Initially, we intend to take all the insurance companies of Pakistan under our umbrella. The user will come to our website portal, input his specific requirements. Based on his needs, specific plans will be shown to the user where he can select the best one. Then we can digitalise the process and he can acquire the insurance at home without any hassle. Moreover, our technical team is working to incorporate AI to facilitate our users in case of claims.
Who are your competitors ? How is your solution different
    Right now, "Karlo Compare" and "Smart Choice" are our competitors. Our idea is different because we are solely focusing on the insurance and creating awareness. Whereas our competitors are not insurance focused and provide comparisons in broadband, credit cards etc.
Status: Approved
Entry Date & Time: 2017-12-15 (2357)