Post by
illumination1 on Jan 21, 2017 5:02pm
Business Is An Excellent Idea But Will It Be Lucrative?
This business idea of using seemingly sophisticated imaging technology to speed up motor vehicle related injury claims is actually a very good idea. The question as to whether it will be lucrative is in many ways contingent on market risks which is mostly how the sector space looks like in terms of others who may be offering the same services. The one thing however that we know is that there will always unfortunately be automotive accidents and claims that can potentially end up jamming the legal system and will end up costing loss of time and monies something this company is looking to address in what it is doing. I live on the West coast in British Columbia Canada and where the auto jurisdiction that deals with accidents falls within the sphere of the Insurance Corporation of British Columbia or ICBC. There are tons of claims that are always submitted to the corporation some of which are legitimate others which are not. When people have dealt with ICBC they have come to learn that the crown corporation tends to offer low ball out of court settlements and has been recognized more and more to do so that lawyers now take part in these such cases that can become time consuming. One such law firm is Becker and Mathers and they say you don't pay until you collect so they have to be convinced that you have a strong case as well as are being honest with them. Conversely, ICBC sees that everyone is trying to scam them and that they don't want to pay out all that much in claims and I will say contrary to what people may even imagine do hire private investigators to follow people who they suspect are trying to scam them. How do I know because I worked for one such private investigator. My previous employer, would tell me that each file that he works on could gain compensation in the couple thousand dollar range. So, you know there is a good chunk of monies being spent on these types of cases. Now if the imaging technology cuts down on the costs to the insurance companies as well as the amount of time spent I would strongly believe that this is actually an excellent business. The bottom line it will all come down as to establishing it to these businesses that it is advantageous to have the company's software and services but unfortunately all of this takes time to establish and build. It is really hard to say how lucrative this business will be but that is in truth what the stock exchange is about. If people who have an idea believe that their idea can do well they will look to backers and do so through the issuance of shares. Either their business will succeed or it will not. Some may just do well enough to keep surviving and others may fail and completely go bankrupt. Unfortunately, this is all what stocks are about and we have to make the best decision as to what we can with the information at hand. Oh, what I was told about the software is that it is a fairly sophisticated categorizing system that has numerous conditions in the system files that compares reported injuries as to various conditions and whether they match things along various characteristics consistent of being from say trauma of an injury that was caused vs an existing one or something that is otherwise a illness and a degenerative medical condition as I tried to explain how things worked. It literally by the sounds of it works on heuristics and a in depth classification system which actually sounds like a fairly impressive software. Nevertheless, it all comes down to marketing your software and product and being the one of choice. Only time will tell how successful this company will be. Have a good weekend everyone. glta