InsCoin INSURANCE PROCESS
InsCoin for Knox is first time established in our real world which will accept Ethereum Coins for the payment of insurance premiums (after conversion into our local Tokens) with the help of BlockChain and here you can solve your falsification of insurance policies. Knox project have both written agreement and smart contracts, so the customer can monitor his records and premiums which he is going to pay to a policy without any unfair of payment loss and fraudulent insurance policies.
Customer’s policy is written on the BlockChain, he can access his insurance information and company services at any time from his cell phone or desktop. BlockChain let an insurance company to be secure by establishing a secure system and by improving its processes. A fraudulent policy can never be charged to the client. Company can get premiums from client on time and on online method of crypto currency.
There is a rule which is followed by BlockChain for InsCoin, to do a smart contract and is provided if the certification is done on both ends which means partly certification is made on internal platform of Knox and partly on BlockChain of Ethereum. It keeps the privacy rights of the contracting parties.
The few steps are taken to complete the insurance policy of Knox, firstly Knox insurance block the funds for the first year and issue the policy in smart contract’s mode, then exchange of crypto currency is carried out between a client and InsCoin insurance platform, now a client has to buy token in Wallet to sign the policy, client will forward his policy to the insurance broker and insurance broker will then turn clients payment to insurance company.
The serial number and a unique bar code which is provided to a client on a written agreement is need to activate the policy on InsCoin platform, once the required data is provided to a site, the certified PDF file will be released by a system which is actual the terms of the policy stated.
System has to check now if authenticity is approved or not, if not then the client has to pay the premium as indicated in white paper else Knox insurance will finally issue you a policy in smart contract form, and it will be having complete information of a client, client’s serial number, code, insured object ID code and starting 6 characters of the contractor’s fiscal code if natural person and first 6 numbers of VAT registration number if legal person.
The main goal of InsCoin is to reach the BlockChain and decentralization of the whole insurance system so you can get rid of written policy and security issues of paid premiums and turn your policies from a paper into the smart contract.
Website : https://inscoin.co
Whitepaper : https://inscoin.co/assets/content/whitepaper_en.pdf
Telegram: https://t.me/inscoinico
Linkedin: https://www.linkedin.com/company/inscoin-holding-ou
Twitter: https://twitter.com/inscoinforknox
Facebook: https://www.facebook.com/Inscoin-for-Knox-1802470656458272
Reddit: https://www.reddit.com/r/InsCoin
My Bitcointalk Profile Url : https://bitcointalk.org/index.php?action=profile;u=1591725