Smart Insurance - Personalized financial decisions

Millions of Americans are being offered insurance plans for small ticket items, such as consumer electronics and home appliances. Should the consumer accept these contracts? At the same time, millions of Californians living in earthquake hazard areas, do not buy adequate insurance. As a finalist in the prestigious FinCapDev competition, SimInsights developed a mobile application that uses economic utility models to help consumers make smart personalized insurance decisions and avoid being under- or over-insured. SimInsights has partnered with Dr. Manel Baucells of Rand Corporation to tackle this challenge of offering consumers an answer in their decision-making process. In the final round, Smart Insurance won the $5000 honorable mention award which was featured in Forbes.