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MoWi

Our first product, MoWI, was developed for Aegon N. V. MoWI was a pilot project launched in 2019. Our aim was to introduce an innovative way of claim adjustment within the insurance process.

Benefits of the weather based digital insurance.

Usually, the best holiday deals are only available for those who book well in advance. However, nobody can predict for sure what the weather will be like within the selected period. Bad weather usually comes with extra expenses for the family. That’s where MoWI comes in to help.

Classic insurance providers don’t have powerful and online products for this problem. The customers have to sign the contract in a paper, accepting long and solid Terms and Conditions.

Implementation

Considering travel habits, we first examined winter vacations. We have identified as a clear pain point that travelers will be harmed if they are unable to do winter sports during a pre-planned trip. The starting point was an examination of the weather and snow quality, but we soon realized that it is not clear from these if the conditions are suitable for sports. This is how we got to examine the operation of the ski lifts on the slopes, because if the ski slope cannot be used due to the bad weather or the quality of the snow, or it may not work due to a technical problem, the customers will definitely be unable to do sports.

In this case, the automatic claims settlement is a huge advantage for the customers, because they can immediately book additional days for rest or spend other activities and recreation from the compensation fee.

Usage

With MoWI, customers can customize the conditions of their insurances (e.g., what is the ideal percentage of functioning ski lifts during the trip), set the period of the travel and the expected compensation. After that, the contract is recorded as a smart contract in a public blockchain. In case the conditions are met, compensation is automatically received without claiming process.

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