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Seven years ago, I was hit by a car and seriously injured. It was a nightmare for me and my entire family. What I didn’t know was that my insurance companies were about to create a "second nightmare."
Even though I was fully insured by well known insurance companies, after the accident I was left with nearly $100,000 in medical bills because both auto insurance and health insurance did not want to pay. This "second nightmare" problem drives many into financial ruin. I've dedicated myself to stopping the insurance companies from ruining millions of peoples lives. The Injured Money website and custom software will expose the insurance companies that are poor at paying claims and compensating for losses and recommend those that are good. For the first time, consumers will know the quality of the protection before buying the policy.
This sounds obvious, right? Before you buy a car, you check the reviews and ratings to see how the car performs. However, many American families spend more than a half-a-million dollars on insurance in their lifetime and they have no idea how well their insurance companies will perform when they need them most. This is because insurance companies have never been rated based on how well they pay claims. We can change that!
With the system I've developed, you can see how good any given insurance company is at paying claims and loss compensation in comparison to other insurance companies. When tragedy strikes, you don't want to be insured by the company that will keep your money, but with an insurance company that honors their promise to protect you.
You will be shocked to discover that many of the worst companies are the ones that are every day names. Yes, the same companies whose jingles we hum and whose ad personalities we instantly recognize simply by the sound of their voice or their first name. Even more shocking is that how well these companies pay claims depends on where you live. This means that perceptions about insurance companies -- good or bad -- are often wrong.
There are 140 million people in the U.S. that are one accident from financial ruin. An accident is devastating enough. An insurance company delaying or denying a claim is the "second nightmare," a nightmare that couldn't come at a worse time. It's also a nightmare that no one should have to experience. Surprisingly, when one insurance company would pay only $10,000, another would pay $100,000 for the same accident.
I strongly believe everyone should be able to know how good their insurance company is when it comes to paying a claim. Injured Money can tell you how good your company is and make recommendations for companies that are better in your local market. Those that pledge $29 for the SMART SHOPPER reward will receive the deluxe report with everything listed above, a $60 retail value. Best of all, the reports are based on the financial reporting of the insurance companies, ensuring the data is accurate.
The development work of our sophisticated, cloud-based, data-mining software is complete and the website consumers will use to access the information is online. The funds from this campaign will be used to collect the data needed to deliver reports to anyone living in the U.S. The $20,000 launches a nationwide auto insurance rating service. Please help us bring this service to every person in America.
As a bonus, the software we've developed works for many types of insurance. If more than $20,000 is pledged, we will offer rating services for other types of insurance, including: health, home, disability, etc. Check out our rewards and pledge what you can. Thank you for your help.
Below are samples of the first two pages of the deluxe auto report. This is a six page report you will receive comparing your auto insurance company with three recommended companies serving the market where you live. This report comes with only a $29 pledge.
Below is an example of another page of the auto report. This report makes recommendations on the best companies in your local market.
With only a $29 pledge, you will receive this complete report. For $99 you can receive one for you and four friends or family members that you care about.
Below is an image of the full report.
"Comparing rates is just one element of shopping for insurance. It is also important to evaluate the insurance companies history of paying claims. The Injured Money Insurance Rating service makes this process easy and is a great resource for those seeking to compare how insurance companies perform at paying claims compared to other insurance providers." Vince Shorb, CEO, National Financial Educators Council
"United Policyholders helps thousands of people every year that suffer tragedies and struggle to get full and fair compensation from their insurance companies. This is a very big problem in America. A rating system that exposes the bad actors and reveals the good will greatly alleviate the heartache and economic devastation we see every day. Once people have a way (before tragedy strikes) to buy insurance from the companies that deliver on their promises, we should see a huge drop what many refer to as the "second nightmare" problem. Amy Bach, Executive Director, Co-Founder, United Policyholders
"As a past CEO for many public and private companies, I find it shocking that the Insurance industry may be the only market in the world that doesn’t measure, report and work to improve product quality. No wonder the insurance industry is in the state it is today. There is no reason to improve because no one is measuring how they perform. Providing a measured product quality rating will benefit everyone who buys insurance." Mike Gulett, founder and author, mycarquest.com. Retired CEO
"As someone who works in the insurance industry, this is a watershed event. The idea of a product quality rating applies broadly to the insurance industry and will benefit everyone, no matter where they live, who they buy their insurance from or how much insurance they carry." Tony Steuer, tonysteuer.com, Insurance Literacy Expert, CLU, LA, CPFFE
Risks and challenges
Risk 1 - Insurance is a trillion (one billion times one thousand) dollar industry that has been exempt from federal regulations and anti-trust laws for 69 years (that's why you pay too much and get too little service). This is an industry that is not accustomed to transparency. This rating system exposes the bad actors and rewards the good ones. This is information that has never before been available to consumers. As a result, there will be companies that will want to keep consumers in the dark about their business practices.
What actions the individual companies, or the insurance industry, takes to stop people from learning which companies are good and bad about honoring their promise to protect is unknown. While I know we have worked diligently to be thorough, I cannot promise we've anticipated every possible scenario a trillion dollar industry could employ in attempting to stop this campaign from bringing you information you should know, and deserve to know. We work to address this risk with a team of lawyers, IT experts and insurance actuaries to make sure every action we take, and every service we develop, is well thought through and that we do our best to anticipate the resistance from the insurance industry.
Risk 2 - The data collection and organization is a significant task for each service, auto, health, home, etc.. This could lead to production delays. If we achieve a funding level to provide multiple services we will manage this risk by bringing the services to market sequentially, starting with auto. Follow-on services could be health, home, disability, life, etc.Learn about accountability on Kickstarter
- (30 days)