The project focused on providing the best possible experience to the policyholders who've been dependent on captive or independent agents for insurance-related affairs. The need was to provide reliable execution of service requests for the policyholders and fundamentally rethink the concept of insurance and change the dynamics of customer-insurer engagement. A digital application named- Infinity was designed, which would work as a personal risk manager. It lets one know the level of risk associated with the assets or the beneficiaries when paired with, can run risk assessment, update the user about the risk level, and generate data-based recommendations for preventive measures. The whole purpose of this ecosystem of products was to prevent the risk from occurring or, in bad scenarios, minimise the damages that may incur.
Keywords: game theory, gamification, insurance, IoT, risk prevention
Student Name: Ujjwal Dubey
Guide: Dr. Bibhudutta Baral, Co-Guide: Mr. Anoop Saxena