When Rachel Werner’s Audi Sedan was stolen last year, her insurance company reimbursed her. But because her car had depreciated since she bought it in 2015, she still owed $3200 on her car loan. Then Rachel learned about gap coverage, optional auto insurance that could have made up the difference.
“I wish I could tell my past self to buy it,” Rachel said.
Now she can. Mylo, a Lockton Company, is launching a new service called Quantum Insurance.
Physicists have successfully sent subatomic particles backwards through time in several notable experiments (most recently in Brazil), but Mylo is one of the first businesses to bring the benefits of this emerging technology to the public.
“Our proprietary Quantum Communication Engine lets us give an expert recommendation to the past self of any customer,” said Niki French, Chief Technology Officer.
How does it work?
A Mylo agent sends a “Quantum” email or text back to Rachel in 2015 with the message: “We highly recommend gap insurance for your Audi S3 Sedan.”
Rachel reads the message three years ago and purchases the inexpensive coverage.
A year later, Rachel saves $3200.
Mylo’s licensed agents go through a rigorous certification process to make sure their communications are clear enough to prompt the purchase but too vague to alert customers to specific events that might alter their personal histories.
For the same reason, they don’t call customers or leave voicemails.
“If we called during March Madness or the World Series, customers might hear cheering in the background or even learn who’s winning or actual scores, and nothing good can come of that,” explained Jason Gibson, Sales Process Architect.
Quantum Insurance is environmentally friendly too, said Laura Lockton, Sustainability Specialist. “We’re proud that our hardware requires only 1.15 gigawatts of electricity to operate. That’s well below the industry average.”
Mylo beta-tested Quantum Insurance with its employees before launching it to the public. The results were highly encouraging.
“I saved my college-age self over $2000 by recommending renters insurance to her,” said Julia Thompson, Marketing Manager. “Now I’m going to bug her to cover her laptop too.”
Happy April Fool's Day!
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