How we are transforming the secondary insurance market

Kashfrov is Asia’s first Secondary Insurance Marketplace built from ground up by insurance nerds. We match sellers of insurance life policies and endowment savings plans with buyers.

When a policy holder surrenders their life insurance policy and/or their endowment savings plan, the insurance companies make money and a lot of it. Most people pay hundreds or thousands of dollars a year and when they surrender, the insurance company is off the hook, paying only cents to the dollar. This adds a lot to the bottom-line of insurance companies. And that is how they canhost golf tournaments and other events.

On the other hand, investment banks like Deutsche Bank and Goldman Sachs and Ultra High Net Worth Individuals like Warren Buffett have purchased such instruments, mainly because it is considered a fairly-safe investment whose return is greater than putting inside a bank. However, they are paying a huge premium for such an investment simply because of brokers in this industry.

Brokers in this industry normally would purchase an endowment policy and/or a life policy with their own money, after which, they would resell these policies to financial institutions and UHNWI’s for as much as 30% upwards. Brokers’ justify this insane profit stating that they must first fork out the money and carry the risks.

Our Secondary Insurance Marketplace solves this problem by cutting out the brokers and creating a transparent marketplace where sellers end up with more money, while the buyers end up paying less and getting better returns for their investments.

Our platform current uses both machine and deep learning from giving sellers an instantaneous quotation to modelling the buyer’s returns. We eventually hope to incorporate Smart Contracts on blockchain to our final solution, fully automating the entire lifecycle from when a seller indicates an interest on selling their policy to the purchase of these policies from the buyer side.


The volume of policies we have seen


Countries we are targeting

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