Idea Validation - Insurance Company
Hello Community.
I have had this idea for a while now and wanted to validate it through this post.
Idea -
Auto insurance companies are very profitable. However, it is disheartening that the money flows upward mostly. What if insurance companies helped with paying for car costs besides accidents? For instance, covering tire replacements once every five years. Or sharing profits made from investments based on driving record.
The idea is that even though it will be a for-profit company, the focus will be on helping customers AND making profit.
Established insurance companies may be able to copy and implement these, but at least then these options will exist vs. now.
I may be missing a lot of details, but would appreciate any feedback and/or suggestions on if the idea is reasonable.
Thank you.
You outline two of your ideas which is really great in my opinion and wanted to clarify with you on that.
I'd definitely pay for insurance company if they provides insurance for oil, tyre, air filter replacements. And I don't think this will scale more because you have to think of the bigger picture where what if everybody changes something and the cost of those replacement exceed the renewable insurance rate. However you can compensate those things with investment of the money you have collected. So I say this is nice business plan. I can't think of other idea as of now but that also great at glance.
I recently started working on the roastmystartup.io which helps the early stage indie hackers providing feedback for their landing pages, website, apps as a service.
I'd really appreciate if you can just take a look around and provide feedback. Thnx.
Thank you @rajasimon for your input.
This comment was deleted 5 years ago