Building Zenvest: Instant Insurance Payouts Using AI & Real-Time Triggers

Zenvest is India's first parametric insurance platform built for gig workers. It uses AI and real-time data to automatically detect disruptions and trigger instant payouts, addressing the shortcomings of traditional insurance.

Details

Zenvest was developed during a hackathon to address the pain points of gig economy workers in India whose income is entirely dependent on daily rides and deliveries. Traditional insurance fails them as claims take time, require extensive documentation, and payouts are often delayed or uncertain. Zenvest flips this model by automatically detecting disruptions like heavy rain, air quality spikes, or platform outages, and triggering instant payouts to users without any claims process. The platform uses AI/ML models for risk profiling, weather forecasting, fraud detection, and personalized plan recommendations. It is built as a PWA to provide a seamless, friction-less experience for users with low-end Android devices. The 'Sentinel' fraud detection layer ensures trust and safety by identifying GPS spoofing, suspicious activity patterns, and duplicate accounts in real-time. This allows the system to route clean claims for instant approval while flagging high-risk cases for human review. Zenvest aims to provide gig workers with financial security and dignity by ensuring continuity of income during external disruptions. The platform's Phase 1 prototype scored 4/5 stars in a hackathon, demonstrating its real-world impact and technical depth.