Conextion

I have created a platform, the first 3D interactive page with 360 immersion in the Insurance Industry.

Problem:

The cost of auto insurance increases every year in the United States. Research has revealed that, in 2022, the average cost of car insurance will increase to
many drivers (how is it happening at the moment) rate increases from a handful of companies studied vary from around 3% to just under 12%.  Since auto insurance is a mandatory expense for many drivers, premium increases can be surprising and financially challenging, especially for drivers who already pay higher-than-average rates because young drivers, have accidents or tickets on their records, or live in an area with a high cost of living.   The insured of today in evolution demands a more flexible insurance, with a fair and necessary payment.
 
Our Solution:

Conextion seeks to introduce a platform of insurance products where the auto policy will be the main product. A platform where you can connect with friends and family to acquire or be part of a collaborative insurance policy under the same or similar characteristics, such as the same car, models, brands, location and other underwriting characteristics. Where together they can be insured under the same policy and minimize the impact of the insurance premium.  At Conextion, we will offer a solution that is affordable and represents savings.  Referring to the collaborative economy, which is based on the idea of sharing, through technological platforms that regulate transactions. It offers better prices and more transparent conditions. Let anyone find what they need, anytime, anywhere.
 
Target Market:

Conextion will primarily target Latino population in the United States.  When Latinos arrive in the US, the first thing they look for is to connect with their family and friends. The Latinos always spend time together, buy the same things, they go to the same places…. and when they talk about insurance, they look for the same carriers, the same coverage that their family and friend recommended.  We are also going to address our American market.

Market Size:

 The U.S. Hispanic population reached 62.1 million in 2020, an increase of 23% over the previous decade that outpaced the nation’s 7% overall population growth. The Hispanic population varies significantly by state, ranging from 12,410 to 15,574,880. The states with the highest Hispanic population are: California (15.57 million), Texas (11.52 million), Florida (5.66 million), New York (3.75 million), and Arizona (2.31 million). New Mexico has the highest Hispanic population as a percentage of the total population at 49.26%, followed by Texas with 39.75% and California with 39.42%.

Business Model:

We will create an app for easy access.  When the user enters our app and scans their driver's license, the system will obtain and confirm the driver's license data. The system will display the customer's name and address, followed by this information will display the units registered to the address on the driver's license card. The user will proceed to confirm or update the information obtained from our system.   After you confirm or update that the data is correct, in an easy and simple way, you will be able to select and answer the questions so that our system, in turn, connects the data with similar or equal characteristics of others.

Once our intelligent system has obtained the result, the User will obtain an estimate (the estimate will have the information of the insurance company, limits and deductibles and group
information) then the User will have the option to join an existing group or create a new group with family and/or friends. 

Once the option is selected and having a base rate, according to the established parameters and in a safe way, the policy will be paid.  The user has the option to print their ID or insurance certificate at the moment.  The User will have the option if they wish to obtain an individual policy through our system.  In case of claims, it will not affect the rest of the group since each case will be considered individual and Conextion will have the option of placing it in a group similar to that of Loss Experience.

Funding

Conextion has Scott Wallace of Mana Consulting Ltd as an advisor/consultant. Scott is an insurance industry veteran who has offered us his services to create a recognized digital agent and distributor of auto and home insurance for the Latino communities in especially in Florida and Texas. Scott will go straight to the heart of the insurance industry to build the product. Basically his position will be to bring this whole model to reality.  

Here I leave an extract of what he provided me about the plan:

If required, I will gladly offer more details about the project. This will be a profitable project where we want to add disruptive products to the industry and even more so here in FL where auto insurance continues to increase every day.

Additional info:

This is my website  https://myconextion.com    (they are still working on some details, language and info) but it's just a preview.   Most of the features of the system will be added once we are connected with the carrier.  My intention is to create a digital auto product (Insuratech) through blockchain / smart contract technology, which my platform already has what it takes to include any technology and I can integrate an experience through Oculus and the user can walk into the city and the characters talk to the user.

We are seeking seed funding of $500K to begin construction of this project according to the plan shown. We already have the technology and now we will look for the creation of the product.   

About US:

We are insurance industry professionals with over 25 combined years of experience. We are passionate and creative people who seek to add value to our country. Where we can get fair and necessary insurance. When we successfully complete all of our phases of the model, Conextion will look to expand outside of the US.    The generation is changing and after the pandemic started, there has been a wave of changes where people are getting only what they need and a better price... Conextion has the solution and alternative in the insurance industry.

I appreciate the opportunity to have seen my info, please if you have any further questions or comments, do not hesitate to contact me.

Regards,

Francis

P: 407-990-5167

E: [email protected]