How to Increase Insurance Portfolio in Short-Term?
A rapid, low risk and affordable solution/ product in today’s insurance industry competitive market needs to be based on innovative and exclusive cutting-edge technology that is something rare in this competitive market. This solution:
- to be rapid needs to target a specific market segment with high-value assets
- to be low risk, historical data should support this solution as a low-risk market segment
- to be innovative, a major problem needs to solved by this solution in the insurance industry
Earling is a combination of all of these competitive advantages. Earling detects high-risk patterns that may follow by a major earthquake, the way other solutions working to detect severe weather conditions up to days in advance.
How Earling does Work?
Earling is developed as an exclusive technology that detects high-risk patterns through especial algorithms and constant data gathering/ analysis based on the 4th industrial revolution technologies. Currently, more than 260 regions in 40 countries are undercover by Earling.
How to Increase Insurance Coverage in Oil Industry?
Honors and Awards
- 7th International Tsunami Symposium – Italy, Sep 2016
- 7th JRC ECML Workshop Social Media in Crisis Management – Italy, Oct 2016
- 4th Public Awareness – Armenia, Dec 2016 13th Sheikh Bahai Technopreneurship Festival, Jan 2017
- UN World Conference on Disaster Risk Reduction 2017– Sasakawa Award Nominate – Mexico, Feb 2017
- 8th Risk Management Conference – Tehran, Feb 2017
- 8th Asian Safe Community Conference – Mashhad, Mar 2017
- 5th International Disaster Management Festival, Nov 2017
- 4th International Congress on Technology, Communication and Knowledge, Jan 2018
- 1st International Conferences on Security and Risk Management, Jan 2018
- 8th International Disaster management Conference, Feb 2018
- 14th Sheikh Bahai Technopreneurship Festival, Jan 2019
- Top 25 Innovative Insurtechs – Zurich Innovation Championship 2020
Customer and Market Segment: Oil and gas industry
Marketing channel: Direct negotiation
The deliverable asset is Earling Fist Notice Alert(s) as an API or web-based dashboard for enterprise clients.
Earling First Notice Values for the Insurance Industry:
- Rapid portfolio effects
- Rapid decision making for directors and new decision factor for Decision Support Systems
- A new level of NatCat for risk management and turning risks to values
- High value-added new and innovative insurance products
Earling Value Proposition
- Despite more than 100 earthquakes greater than M6 in each year, from 1999 only a few earthquakes had major damages on the oil and gas industry in Kocaeli, Turkey 1999, Gujarat, India 2001, and Fukushima, Japan 2011 which makes the oil and gas industry as low risk and profitable market segment, characteristics that are very interesting for the insurance industry.
- Earling Earthquake Preparedness Alerts as a unique value proposition also is a tool for a (re)insurance company to influence other insurance products to the customers.
- New products/ solutions; Designing services such as micro-insurance products on low-risk items/ assets in the oil industry for a limited time window or designing parametric insurance products for accepting the risk of well-defined items for risk management and providing attractive value proposition for the customer.
- Earthquake Action Plan Design; developing an action plan to define processes and procedures helps in two segments: 1- customers 2- potential customers to accept their risk maximum in 12 hours.
Increase Insurance Coverage based on Earling Coverage
Earling monitors high-risk patterns in more than 260 regions in 40 countries to issue Earthquake Preparedness Alerts. Earling earthquake risk transfer regions are accessible here.