Nigeria - Business creation project

Décrivez votre projet en quelques mots

Our project is about providing professional insurance technology service to both insurance companies and customers. Our services consists of accident app using AI, block chain (insurcoin) and other related insurance services using technology.

01.01 Décrivez votre projet en détail

Wavecover Insurtech provides home, automobile, health, travel, block chain, digital currency, eandmergency AI app, business insurance and block chain services to other insurance companies in Nigeria . We take pride in satisfying our clients needs by providing them the best coverage at the right price that suits their needs and expectations. In the event of a claim, our clients can be rest assured that we are there to provide help and counsel to ensure a fast, speedy claim settlement. Like other companies, we issue binders and new policies, endorsements and process renewals.

01.02 Quel est le problème principal que vous essayez de résoudre ?

1.Fraud Detection and Risk Prevention. The cost of insurance fraud increases per year. The outdated process of it leaves room for error and its potential. 2.Reinsurance. Data sharing typically among insurers and reinsurance companies can get complex. Plus, it is time-consuming and requires duplicate manual work. 3. Claim Management. Smart contracts can efficiently reduce the load related to paper. 4. Property and casualty insurance primarily consists of auto, commercial, and home. The process required manual entry, giving a chance of human error. 5. Insurance providers need to offer innovative solutions to win customers' trust without compromising on price margins. 6Although in its infancy, blockchain technology has the potential to disrupt the insurance industry by improving trust, enhance data entry and claims. 7.Property and casualty insurance primarily consists of auto, commercial, and home. Property and casualty insurance primarily consists of auto,

01.03 Dites-nous quels sont les principaux avantages et/ou bénéfices de l'utilisation du produit/service que vous souhaitez fournir par votre projet (au moins 3).

Smart-contract-enabled automatic execution has the potential to improve certainty, trust and efficiency in insurance (e.g., claims management) and reduce fraud in insurance transactions.3 More generally, blockchain technology can reduce administrative costs and streamline insurance processes by eliminating the need for intermediaries. The improved efficiency and reduced operational costs may, in turn, increase the accessibility, affordability and availability of insurance. Similar to how blockchain (bitcoin) enables transactions between the unbanked, it can offer coverage to the world’s uninsured population, making insurance more inclusive. Therefore, blockchain technology has the potential to improve the efficiency of traditional insurance, enable new business models and open new opportunities in inclusive insurance.

01.04 Veuillez décrire précisément à qui s'adressera le produit/service de votre projet. Quels sont les bénéficiaires visés ?

Our targeted beneficiaries are high income individuals, business owners, senior citizens, travellers globally.

01.05 Quand avez-vous commencé à travailler sur votre projet ?

10/03/2023

01.06 Combien y a-t-il de propriétaires sur votre projet en plus de vous ?

3

01.07 Parmi les autres propriétaires, combien sont des femmes ?

1

01.08 Veuillez décrire le profil des autres propriétaires de votre projet (compétences, expérience, etc.).

Aliyu Musa Tanko (Information Technology Expert) Bello Isa Doro (Developer) Halima Muhammad (Insurance Expert)

01.09 Si vous avez un site web, une page sur les médias sociaux (Facebook, Instagram, Linkedin...) ou une application, veuillez fournir le(s) lien(s) ici :

https://ng.linkedin.com/in/mslamino

01.10 Quel est le secteur d'activité qui décrit le mieux votre projet ?

g) Services financiers

02.01.01 Mon projet contribue à l'objectif 'Pas de pauvreté'

7 - Tout à fait d'accord

02.01.02 Justification de la contribution de mon projet

The digital ledger that is blockchain serves many functions within government and NGOs that allow for progress to be made. The development of safer, quicker and cheaper remittances services means that the cost of remittances carried by the poor is less and they have more to invest. Furthermore, microloans and peer-to-peer finances, provided by cryptocoin based banks are creating greater financial inclusion that allows for investment in poorer communities.

02.02.01 Mon projet contribue à l'objectif 'Faim Zéro'

1 - Pas du tout d'accord

02.02.02 Justification de la contribution de mon projet

02.03.01 Mon projet contribue à l'objectif 'Bonne Santé et Bien Être'

7 - Tout à fait d'accord

02.03.02 Justification de la contribution de mon projet

1. Blockchain’s added security and ability to establish trust between entities are two reasons why it can help solve the interoperability problem better than today’s existing technologies. An interoperable and comprehensive health record on the blockchain would most likely be pulled directly from existing EHRs in hospitals and physician offices. Today’s health records are typically stored within a single provider system. With blockchain, providers could either select which information to upload to a shared blockchain when a patient event occurs, or continuously upload to the blockchain. 2. When an accident occurs it is detected with help of a sensor which activates the device, the sensor gives its output to the microcontroller or AI. The microcontroller or AI sends the alert message automatically to the police station and the relatives of the person and ambulance with in less time of occurrence. The message is distributed through the AI and location of the accident is detected.

02.04.01 Mon projet contribue à l'objectif 'Éducaiton de Qualité'

1 - Pas du tout d'accord

02.04.02 Justification de la contribution de mon projet

02.05.01 Mon projet contribue à l'objectif 'Égalité entre les Sexes'

7 - Tout à fait d'accord

02.05.02 Justification de la contribution de mon projet

We promote gender equality by creating a system where both male and female get access to same services and benefits from our insurtech.

02.06.01 Mon projet contribue à l'objectif 'Eau Propre et Assainissement'

1 - Pas du tout d'accord

02.06.02 Justification de la contribution de mon projet

02.07.01 Mon projet contribue à l'objectif 'Énergie Propre et Abordable'

1 - Pas du tout d'accord

02.07.02 Justification de la contribution de mon projet

02.08.01 Mon projet contribue à l'objectif 'Travail Décent et Croissance Économique'

7 - Tout à fait d'accord

02.08.02 Justification de la contribution de mon projet

Blockchain adoption in Nigeria has the potential to create significant job opportunities across a range of sectors. With a young and tech-savvy population, Nigeria is well-positioned to become a blockchain hub in Africa. The adoption of Blockchain Technology creates new job roles, such as blockchain developers, cybersecurity experts, and smart contract engineers.Furthermore, Blockchain Technology enables the creation of new industries, such as cryptocurrency exchanges and blockchain-based payment systems, which could create jobs across various sectors, including finance, technology, and manufacturing. The implementation of Blockchain Technology in Nigeria shall also improve transparency and reduce corruption, which boosts investor confidence and create additional job opportunities. Overall, the job creation benefits of blockchain adoption in Nigeria have the potential to play a significant role in the country's economic development and growth.

02.09.01 Mon projet contribue à l'objectif 'Industrie, Innovaiton et Infrastructure'

7 - Tout à fait d'accord

02.09.02 Justification de la contribution de mon projet

1. Blockchain innovation is disrupting the insurance industry. And, for good! As per a report by Markets and Markets, the global market for blockchain in insurance is expected to reach USD 1,393.8 million by 2025 from USD 64.50 million in 2018, at a CAGR of 84.9%. Blockchain technology is helping the insurance sector radically transform operations by providing a myriad of benefits in the form of reduced costs, enhanced customer experiences, improved productivity, increased transparency, and more. The use of blockchain in the insurance sector is expected to grow dramatically in the years ahead. According to Gartner, blockchain is estimated to be more heavily adopted by organizations by 2023 and lead to $3.1 trillion in new business value by 2030. Blockchain technology can bring about significant efficiency gains, transparency, faster payouts, cost savings, and fraud prevention while allowing for real-time data sharing between several parties in a trusted manner.

02.10.01 Mon projet contribue à l'objectif 'Réduction des Inégalités'

7 - Tout à fait d'accord

02.10.02 Justification de la contribution de mon projet

Our project will reduce inequality through the implementation of block chain as both genders will get same benefit of the services we provide. Our block chain is built to increase efficiency, transparency, faster payouts, cost savings, and fraud prevention while allowing for real-time data sharing between several parties in a trusted manner. Our Wavecover AI Application, can be downloaded and used by everyone both males and femails. Importantly, amongst our team members there is a female expert working with us, and we plan to employ more female work when the company starts operations.

02.11.01 Mon projet contribue à l'objectif 'Villes et Communautés Durables'

1 - Pas du tout d'accord

02.11.02 Justification de la contribution de mon projet

02.12.01 Mon projet contribue à l'objectif 'Consommation et Production Responsable'

1 - Pas du tout d'accord

02.12.02 Justification de la contribution de mon projet

02.13.01 Mon projet contribue à l'objectif 'Luttle contre les Changements Climatiques'

1 - Pas du tout d'accord

02.13.02 Justification de la contribution de mon projet

02.14.01 Mon projet contribue à l'objectif 'Vie Sous-Marine'

1 - Pas du tout d'accord

02.14.02 Justification de la contribution de mon projet

02.15.01 Mon projetp contribue à l'objectif 'Vie Terrestre'

1 - Pas du tout d'accord

02.15.02 Justification de la contribution de mon projet

02.16.01 Mon projet contribue à l'objectif 'Paix, Justice et Institutions Efficaces'

1 - Pas du tout d'accord

02.16.02 Justification de la contribution de mon projet

02.17.01 Mon projet contribue à l'objectif 'Parteneriats pour la Réalisation des Objectifs'

1 - Pas du tout d'accord

02.17.02 Justification de la contribution de mon projet

05.01 Il existe un grand nombre de clients qui utilisent déjà un produit/service très similaire à celui que nous envisageons de créer.

1 - Pas du tout d'accord

05.02 Le produit/service que nous voulons créer représente un type de produit/service entièrement nouveau

7 - Tout à fait d'accord

05.03 Le produit/service que nous voulons créer pourrait être décrit comme une nouvelle technologie

7 - Tout à fait d'accord

05.04 Le produit/service que nous voulons créer est une amélioration d'un produit ou d'un service existant

1 - Pas du tout d'accord

05.05 Le produit/service que nous voulons créer pourrait être décrit comme une extension d'une gamme de produits ou de services

7 - Tout à fait d'accord

05.06 Le produit/service que nous voulons créer répond à une demande ou à un besoin qui n'a pas été satisfait par d'autres produits/services.

1 - Pas du tout d'accord

05.07 Le produit/service que nous voulons créer est une nouvelle version d'un ancien produit/service

1 - Pas du tout d'accord

05.08 Justification de mon projet

With blockchain technology, insurance companies can create smart contracts to track insurance claims, automate outdated paperwork processes and safeguard sensitive information. Blockchain optimizes the efficiency, security and transparency of the insurance industry.

05.09 Qui sont vos principaux potentiels concurrents et qu'est-ce qui vous différencie d'eux ?

1. My cover 2.Paddycover 3. Top check 4. Casava 5. Curacel 6. Figorr 7. ETAP 8. Cornerstone Insurance 9. RelianceHMO

10.06 Menez-vous des actions au sein de votre communauté pour promouvoir le rôle des femmes entrepreneurs ?

Yes, as part of the community initiatives to promote females role, we are working in team with both gender, are going to employ more females in running our start up. This way, we believe more women will believe in themselves and the need for them to start their own company. We are going to raise awareness about Women’s Entrepreneurship and acknowledge the importance of women entrepreneurs: Inclusiveness and gender equality are central to all wavecover activities. The Wevecoveer project has spotlighted 29 great examples of diverse women entrepreneurs across Europe and celebrated their success through social media and the project website.