Students that earn a stable income through bitJob’s marketplace and already own an apartment, can now get insurance services within one click
bitJob, the peer-to-peer employment marketplace for students, is announcing today its collaboration with Lemonade, the insurance company powered by artificial intelligence and behavioral economics. The insurance API that Lemonade has developed will be integrated into the bitJob marketplace, and will allow students that are already homeowners to receive customized rates for rental and homeowner insurance with one click. The cooperation between AI (Lemonade) and Blockchain (bitJob) makes insurance policies (homeowners, condo, and renters), quoting, and policy creation more approachable for the student segment.
Founded by three childhood friends in Israel, bitJob enables students to utilize their free time to earn a fast and stable income, a benefit that they didn’t have a few years ago. In addition, the website will reshape the recruitment process that HR departments are going through by relying on validated evidence of demonstrated abilities, rather on their Linkedin profile or traditional CV. The most exciting aspect of the project is the student-based economy, creating a new consumer segment: Students will be able to cash out OR spend their earnings inside the marketplace, getting services, products and opportunities designated for their lifestyle.
Employment in the “adult world” has a coherent problem of supply and demand; students lack professional opportunities from the businesses side and are discouraged from searching for high-level jobs that prepare them post-graduation. Current job platforms direct students to jobs that aren’t related to their experience or field of study.
By integrating blockchain into the marketplace, bitJob creates new revenue models and hosts a variety of features including:
- Decentralized Job Market – Members can engage in a direct hiring or bidding process through rules set by both the platform and the participants.
- Decentralized Payment System – The platform will issue payments through PayPal, using cryptocurrencies to measure the value of the service in order to minimize fees by eliminating banks and money exchange services.
- P2P Lending and Scholarships – The businesses and firms collaborating with bitJob, will offer the users with both financial services as student loans, that will allow both sides to build trust. The bonding between the firms and students will enable the blockchain based to minimize the gap for the next generation of talent-pool.
- Uniting 500 Million Students as a new consumer segment – Firms will be able to reach their millennial customers, on a global scale, with one click.
Users will register to the system and offer their services and availability to a personally customized job category based on the users past experience and professional skills. Students will actively build their reputation and to their dynamic portfolio which is connected through his/her own “name” site.
“The employment market is moving towards online jobs without the need for physical access to offices or factories. We love to call this era the Industrial Revolution 2.0”, says Dror Medalion, Co-Founder and CEO of bitJob. “We are very excited to work with Lemonade.com and implement their API in our platform. We will work on creating and developing new services specifically modeled for the global student ecosystem, enabling students to find employment and transact with small/big businesses across the nation.”
“It takes years to pull together the licensing, capital and technology needed to offer insurance instantly through an app, which is why it’s almost nonexistent. Today’s API launch changes that. Anyone with a slight familiarity with coding can now include these capabilities in their app, in a matter of hours,” said Shai Wininger, Lemonade Co-founder and Chief Lemonade Maker, in a prepared statement.
If you want to get your own rent or homeowners insurance, please press Here.
About Lemonade:
Lemonade Insurance Company is a licensed insurance carrier, offering homeowners and renters insurance powered by artificial intelligence and behavioral economics. By replacing brokers and bureaucracy with bots and machine learning, Lemonade promises zero paperwork and instant everything. As a Certified B-Corp, where underwriting profits go to nonprofits, Lemonade is remaking insurance as a social good, rather than a necessary evil.