Safeinsure - A Decentralised Insurance Market

Insurance is a sort of arrangement by which a particular entity takes the guarantee of providing compensation in case of loss, damage to a property, bad health, death etc depending on the type of insurance taken in exchange of payment of a chosen premium.

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Insurance has become a part and parcel of our lives. We need it in every walk of life be it life insurance, health insurance, house insurance, business insurance, car insurance and the list goes on. According to reuters.com the global insurance market had gross premiums worth of $4609 billion in 2016. It is obvious that this figure might have seen an increase during 2017 and 2018.

The Problem

The insurance market is so huge and diverse yet there are number of problems that consumers are facing while buying insurances, which include

• You will never get a plan of your choice, there will always be some unwanted feature for which you will have to pay extra money.
• The prices of these insurances are very high.
• You have to buy plans through a third party known as insurance agent and that person also takes his commission.
• It takes days to buy an insurance policy and get the paper work done.

Solution

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Blockchain has a solution for this problem as well. Blockchain is gaining mass adoption and every now and then, new areas are being decentralised.

Safeinsure is a solution to this problem which is a decentralised marketplace for insurance buyers. Safeinsure ensures that the consumers get what they deserve by providing the insurance plans at lowest possible prices and offers consumers to choose from a huge number of insurance policies on a decentralised network. Safeinsure is a Proof of Stake network which is secured by master nodes. You can buy a specified stake of SINS (cryptocurrency behind Safeinsure) and run your own master node to earn passive income.

Advantages

• With Safeinsure, you will get the insurance policies at minimum possible prices plus there will be no insurance agent to take commissions from both parties.
• Your data will be safe as Safeinsure is a decentralised network which runs on masternodes guaranteeing the security of the network.
• You can choose from a wide range of policies or you can just make a policy according to your needs. This is one of the best features of Safeinsure.
• While it took you days to get a conventional insurance plan, Safeinsure will make sure you get your desired policy witjin minutes.
  
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  The transactions on Safeinsure are done through their own digital currency SINS which is also used to run master nodes by keeping a specific amount of SINS as collateral. You can buy insurance plans though this coin.
  Safeinsure never did any ico or ore sale of their coin. SINS was the fastest coin to be listed in Coinmarketcap.

If you want to run a master node on Safeinsure network, click on this guide.

More information

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