Juan Guillen

Rochelle Park, NJ (USA)
Role(s):
Founder/Owner/Principal

iEnsurance Corporation

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Location: Rochelle Park
Industry: Insurance
Year Founded: 2018
Number Employees: 1-10 people
Business Stage: Creation/Idea
Entity Type: "S" Corporation
Description: Introducing iEnsurance, The World’s First Automation Job Displacement Insurance.    Recently, companies such as Amazon and Walmart have automated their inventory management positions and self-checkout systems. Even jobs requiring some degree of judgement are at risk of being overtaken by robots currently in development. Cars are being designed to drive themselves, and artificially intelligent robots are being developed to displaced physicians and surgeons during patient interactions. With the rise of technology and automation, many people are questioning “Where will my job be in the future?”   While iEnsurance won’t stop robots from taking your job, iEnsurance is committed to provide individuals the financial security they need by offering a new type of insurance coverage, “Automation Job Displacement Insurance.” In the event, your job is lost due to artificial intelligence, automation or robotics, employees would be entitled to insurance coverage similar to life insurance, but for your job.   Our objective is to provide people with a second opportunity. We hope people will utilize the funds to either go back to school, start a business or invest in stocks.    Automating jobs is not a local or state issue, it is now a national issue and it’s gone as high up to even the Presidency. Meet 2020 Presidential Candidate Andrew Yang. Andrew Yang believes “automation and advanced A.I. will soon make millions of jobs obsolete – yours, mine, those of our accountants, radiologists and grocery store cashier” “All you need is self-driving cars to destabilize society.” His campaign message: “The robots are coming.” Recent reports by BBC have indicated"Automation, Robots Will Replace 800 Million Jobs May be Replaced Worldwide by 2030".   And recent studies suggest anywhere from 9 percent to 47 percent of American jobs could be automated in the next few decades.   Politicians have even proposed a "robot tax" to combat the rise of automation.   For this very reason, iEnsurance was created. We hope to impact people’s lives both socially and economically.   iEnsurance's business model also differs from that of typical insurance companies   Traditional insurance companies make money by keeping the money they don’t pay out in claims. This means whenever they pay your claim, they lose profit. This is why getting your claims paid fast and in full is sometimes so hard.   iEnsurance was built differently. We take a fixed fee out of your monthly payments, (and some unavoidable expenses), and use the rest for paying out claims. In essence, we treat premiums as if they were still your money. iEnsurance keeps a flat 25% fee of a customer's premium while setting aside the remaining 75% to pay claims. So there’s no conflict of interest. Unlike any other insurance company, we gain nothing by delaying or denying claims (we take a flat fee!), so we handle and pay as many claims instantly as possible.   By injecting technology and transparency into an industry that often lacks both, we’re creating an insurance experience that is fast, affordable, and hassle free.   What the World’s Billionaires are Saying?   Richard Branson: “I think with the coming on of A.I. and other things there is a certainly a danger of income inequality.”“The amount of jobs [artificial intelligence] is going to take away and so on.”   Elon Musk: “There is a pretty good chance we end up with a universal basic income, or something like that, due to automation.”“Yeah, I am not sure what else one would do I think that is what would happen.”   Mark Zuckerberg: “Now it’s our time to define a new social contract for our generation. We should explore ideas like universal basic income to give everyone a cushion to try new things.”   iEnsurance is looking to raise $750,000 in exchange for 10% equity so that we can expand our Insurance business. Below, I have included some other important details about the funding that we need.   Once funded, we intend to use this capital for these purposes:   -Meet State Regulatory Requirements to sell Insurance -Operating/Growth Capital (Payroll, Sales & Marketing, etc) -New Product Launches -Lease an Office Space I’ve funded iEnsurance for two years now. I’ve recently filed for a patent for the invention on December of 2018. I’ve hired designers, website and software developers. Our website, along with our software management system is currently under development and 80% completed.