VinChain is a Blockchain-based platform that collects data from various sources. Moreover, it provides service and cars for purchase in its application. VinChain analyzes the driving style and interest of the users, the use of discounts, and the choice of service stations. By making use of this data, this platform can generate more revenue. The VinChain platform offers particular sets of products and services, which include new cars and suitable accessories and it helps with future visits of service.
With the aid of data analysis through machine learning and artificial intelligence, the information of marketing is going to be provided in a structured form. Moreover, it is going to help in creating the users’ segments. Plus, it will help in analyzing the use of tokens to receive payments as well as discounts and for obtaining reliable and unalterable data on the use of cars.
As per the statement given by Mckinsey & company, around 10% of the claims made around the world are fraudulent in nature. Deceptive customers commit accidents, which are fraudulent in nature in order to receive compensation. As per the statements given by FBI, the expenses incurred on non-health insurers are more than 40 billion dollars in a year.
The claims and appeals of management form 39% of the total cost of insurance. Various insurance companies make use of secluded ways for managing claims. This reduces the efficiency level of the transaction cost.
By making use of the technology of Blockchain, it is easier to eliminate the chances of fraud. The vehicle report of VinChain provides you real-time data. Additionally, requests can be paid for by making use of the VinChain tokens. Plus, the insurance companies will receive a reward for adding information about the insured events. The insurance companies can also decrease the claims’ cost of processing.
The VinChain platform offers various opportunities to the dealers who are working on it. They get a chance to earn the tokens of VinChain, which will enable them to order the reports of the vehicle provided by the partners of VinChain. Moreover, the dealers can sell these tokens at an exchange and generate more revenue.
If the user makes use of the VinChain website, then he or she is going to get additional leads and a communication channel with the client. By using the report history of the vehicle, the outdated information gets replaced. It improves the confidence level of the user in the analyzed details, thereby motivating the user to increase the resale price of the car.
It is easier for the user to receive the update about the car as he or she is in a continuous link with the internet through the use of mobile phones. The user is not required to contact the dealer for analyzing the updates as well as errors on the software. This is very important in the world of digital technology where most of the work is dependent on the software. If you are looking for more details, then read this paper of VinChain.