INSCOIN The first Blockchain insurance company

rondenk (9)in #ico • 6 years ago

Insurance is one of the most important industries and can be considered as part of the growth of modern business, which has become a decisive society throughout the world. But insurance is not without problems and shortcomings. According to the FBI study, the annual loss of insurance fraud amounts to about $ 40 billion.
KNOX Company – the first insurance company to combine digital with the real world. Using Blockchain technology, the most effective and powerful structure in this segment is created to solve problems with certification and exclude fake insurance policies. An insurance policy issued by Knox, there will be a traditional paper form and in the form of Intelligent Contracts, which allows customers to control their policies in real-time, in complete security and transparency. Thanks to the site, developed by Knox insurance company, the policy will be developed to be fully automated and exclude the possibility of conflict of interest between the parties involved.
Insurance companies will be established in Lisbon, Dubai and the Bermuda Islands to enable KNOX insurance to operate in different legislative acts and resolve the symbolic economy on a global scale.

What are the advantages of using Blockchain and Smart Contract?

For customers
– Smart Contract prevents fraudulent insurance policies, since the same system will grant them after payment.
– Clients have full control over insurance policies written in Blockchain, which can be checked by anyone at any time.
– Client, via WEB and mobile platform, can access all company services and check their policies.

For insurance companies
– Thanks to Smart Contracts, there will be no delay in collecting premiums, this will significantly increase the company’s cash flow.
– Thanks to Blockchain, the company can not be accused of fraud.
– Blockchain improves operational processes and provides a truly impenetrable security system.

For brokers
– Gain trust before holders and beneficiaries.
– Instant inspection report by administrator.
– Immediate commission distribution.

Company Plan
Obtain a legitimate license with the help of raising funds and creating an internal exchange platform. This platform will have a fundamental role, in which the client can access purchases of insurance products made by the company structure.

The main functions of this platform are:
– Create individual profiles for brokers with their personal wallets.
– Possibility for brokers to create for all their clients their primary profile, in combination with identification code and corresponding wallet.
– Ability for each personal customer to create their own profile, with relative Inscoin wallet. Download all policy functions for evaluation and quotes.
– Buy a policy, the Intelligent Contract address, where you can verify the authenticity.

The internal platform is very important for this project, because this we can effectively manage all the project innovations.