Insurance
Lanir Kazes, Yuval Margalit and Mazal Adgo
About the project
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Insurance is an economic method designed to protect individuals or entities from financial loss given dire circumstances such as natural catastrophes, illness, or other unforeseeable events. In its essence, Insurance is a social principle based on mutual responsibility, deeply rooted in human culture, and predating the development of the market economy.
Our proposed system, “Mosaic”, redefines Social Security as we knew it.
Mosaic suggests that every newborn would automatically be added to a governmental social security system and receive a baseline score. The system would utilize AI technology to analyze the newborn personal data throughout his/her life, designating a score to each risk factor and setting the individual payment rate/premium accordingly.
Our system suggests that factors such as social participation, education, volunteering, and a healthy lifestyle will directly impact the individual score, thus lowering (or raising) insurance rates.
Mosaic is therefore an adaptable system, facilitating insurance elasticity throughout the course of human life, with fundamental use-cases such as car insurance at age 16 or disability insurance at age 80.
As a service platform, “Mosaic” is based on values of decency, equality and solidarity.
