Tech Overview
At Nimblr, we're revolutionizing the insurance market using state-of-the-art technology. The Nimblr tech stack is built on a set of module that create faster insurance processes, lower costs, and a much friendlier user experience.
Behind the curtain what we've built is complex. Put into use, the system is simple, efficient, and intuitive. This allows Nimblr to connect everyone from insurance professionals to insureds to capital providers while simultaneously removing the red tape and inefficiencies of traditional insurance system.
Our tech stack isn't just cutting-edge, it's also built for you. Here's how it all works.
Modules
InsureChain
(aka blockchain). Don't let the "crypto-hype" sully the good name of decentralized tech. Think of this technology as a large group or little helpers, each doing a small piece of work for a greater common goal. Unlike traditional setups where one giant conglomerate calls the shots, our decentralized approach means no single point of failure, greater efficiency, and increased data parsing. Our group of "little helpers" creates a system where everyone is rewarded for their participation in an autonomous environment while protecting data and privacy.
FastPass
Straight-Through Underwriting & Claims
Imagine getting approved for insurance as simply as ordering a pizza online. Imagine an insurance claim that is processed in minutes instead of weeks. Building on all of the Nimblr modules, both underwriting and claims are made more efficient and completed in minimal clicks. As always, this allows for reduced operating costs, a better user experience, and more flexibility. Fast. Simple.
SmartSettle
Automated and Efficient Claims
Welcome to the future of insurance claims, where community and technology unite. At the core of the Nimblr claims process is an advanced economic decision tree model. It's all about incentivizing good behavior — legit claims get fast-tracked, while dodgy ones get tossed aside. Your deductible isn't just a one-way street with SmartSettle; it's set aside when you file a claim. If your claim is legit, you get it back. If it's fraudulent, the community keeps it. It's like a trust handshake, but automated.
NimblRate
Dynamic Rating Engine
This is the brain behind figuring out how much your insurance should cost. It adjusts in real-time based on a variety of factors so you're always getting a fair price. The Dynamic Rating engine is also built on decentralized tech which allows the rating to be processed by consensual data sharing. That means you share the data you want to share. When you opt to share data is sent to the Dynamic Rating engine and processed using methods similar to Zero Knowledge Proof [ZKP]. ZKP is a mathematical way to answer yes/no questions and rate policies without subjectivity.
FlexiVault
Dynamic Capital Engine
This is the Nimblr super-flexible insurance piggy bank. It can quickly adapt and rebalance, ensuring there is always enough money to cover claims, while also making sure capital is used efficiently. Equipped with an AI version of the Kelley-Cheney-Goldstein algorithm, this powerhouse evaluates capital needs based on various risk factors and future scenarios. Our Dynamic Capital Engine isn't only smart, it also knows how to learn and adapt making sure we're not just sitting idly on a pile of unused cash. And, that's good for premiums and rewards.
NimblRisk AI
Insurance Focused AI
The Nimblr system gets smarter over time. It learns from previous data to more accurately project risk factors and costs. Every claim is a learning tool for the Nimblr AI Brain, further driving efficiency in claims processing. These increases in knowledge lead to innovative products and solutions and translate to better insurance rates and insurance operating costs.
SafetyNet
Risk Pockets Layer 1
This is the communal pot of money for each Nimblr risk community. Each Risk Pocket is specialized based on types of risks, like defi insurance, music equipment, car insurance, or more. Premium are paid into these risk pockets and held as first line of defense to pay claims. When you or another member of the Risk Pocket make a claim, the money is pulled from this Risk Pocket and held in escrow until distributed. It's nimble, responsive, and tailored to specific needs.
SafetyNet+
Risk Pool Layer 2 Capital Structure
While Risk Pockets split up claims money into smaller, communal, more specialized pots based on type of risks, the Risk Pools are an additional set of funds spread out across multiple Risk Pockets to provide an additional layer of Capital security and claims payments. The Risk Pool structure creates a large safety net in the event a Risk Pocket gets depleted or faces an unusually large claim. This is the extra layer of financial security that keeps the whole system robust and reliable.
Nimblr Common Reserve
The Ultimate Rainy Day Fund
Consider the Nimblr Common Reserve the best rainy day fund. A small percentage of every premium and capital contribution goes into this highly-secure Nimblr nest egg. It's your financial guardian against black swan event and unexpected mega-claims. But that's not all; it can also be used to boost rewards and cover necessary fees. And don't worry, this fund is solely for the Nimblr community's risk Pockets and Risk Pools and not for our operating costs.