INSCOIN FOR KNOX- BENEFITS AND WHY IT SHOULD BE EMBRACED
Fire outbreaks and natural disasters are things far beyond ones control. The thing is
Occurrences are not planned and have happened to a lot of people out there. These people are victims of circumstance and they never expected such happening to their properties. To reduce the risks of going bankrupt due to huge expenses that will be made after bad incidents, people prefer paying premiums probably annually to insurance companies . These premiums are little part of ones income and when paid over a period of time , if an unexpected occurrence occurs the insurance company dives into action and covers for the loses . Sounds good right? The problem out there now with insurance companies is the lack of transparency , corruption and insurance frauds . Some insurance companies just accumulate premiums and never cover their insured, while some make up silly excuses as to why the insured cannot be covered. It is very painful when one pays premiums ahead of bad occurrences , knowing fully well that it's just a probability and also pray this occurrences never come to be, when life happens and the incidents comes to life and the insurance company doesn't dive into action and cover the loss , it can be so disappointing and painful.
The troubles with current insurance companies has been taken into consideration by the INSCOIN project and they decided to revolutionize the insurance sector by bringing the full insurance policies onchain . By decentralizing insurance with blockchain technology, there is so much to be gained. This benefits include;
Swift and secure transact between the insured and the insurance company
Increased transparency through blockchain technology
Reduction of insurance fraud is certain with the adoption of INSCOIN project
Corruption will be gotten rid of.
The INSCOIN project will be revolutionizing the insurance system through decentralization. This decentralization entails transformimy customary insurance paper policies into smart contracts .
With the rate at which technology is progressing, it is a no brainer not to follow the trend, and obviously the future of insurance system is INSCOIN
TEAM INFORMATION
Here is the list of goal driven individuals that are determined to take the insurance system to the next level with Inscoin, have a look
In my next article, I will fully be looking into INSCOIN token. Stay tuned!
For more information you can visit the links below
Writer's information
Name:- Iyke