Blockchain technology is very important for insurance companies in the following ways. This saves customers from illegal activities due to decentralization. Also increase the company's cash flow, eradicate the delay in the amount to be paid under the contract signed by the client. Also help brokers, instantly receive commissions.
The KNOX project will be the first insurance company to combine the world of newcomers with blockchain technology, to create certification and insurance policies.
What is InsCoin for Knox?
The KNOX project will be the first insurance company that merges the real world with the digital one using Blockchain technology, creating the most efficient and advanced structure in the sector, to find a solution to the problem of certification and anti-forgery of insurance policies.
The insurance policies issued by Knox Insurance will be both in traditional paper form and in the form of smart contracts, allowing the customer to monitor their policies in real time, in full transparency and safety. Thanks to the platform developed by knox insurance, the policies will evolve to become fully automated and eliminate any possibility of conflict of interest between the parties involved.
Insurance companies will be established in Lisbon, Dubai and the Bermuda Islands, to allow Knox insurance to operate in different legislations and allow a token economy on a global scale.
The KNOX project will be the first insurance company that merges the real world with the digital one using Blockchain technology, creating the most efficient and advanced structure in the sector, to find a solution to the problem of certification and anti-forgery of insurance policies.
The insurance policies issued by Knox Insurance will be both in traditional paper form and in the form of smart contracts, allowing the customer to monitor their policies in real time, in full transparency and safety. Thanks to the platform developed by knox insurance, the policies will evolve to become fully automated and eliminate any possibility of conflict of interest between the parties involved.
Insurance companies will be established in Lisbon, Dubai and the Bermuda Islands, to allow Knox insurance to operate in different legislations and allow a token economy on a global scale.
Why can the Blockchain change the Insurance Industry?
For Customers:
- The smart contract prevents the diffusion of fraudulent insurance policies because it is the same system that will issue them after receiving payment.
- The customer has total control of the insurance policy written on the Blockchain, checkable by anyone at any time.
- The customer, through the WEB and Mobile platform, can access all the company’s services and verify his policies.
For Insurance Company:
- With the smart contract, there will be no delays in collecting premiums, this will significantly improve the company’s cash flow.
- Thanks to the Blockchain, a fraudulent policy can never be charged to the Company.
- Blockchain improves operational processes and ensures a totally unassailable security system.
For Brokers:
- Earning credibility in front of policy holders and beneficiaries
- Instant check of his admin report.
- Immediate allocation of commissions.
Company Plan
Get 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.
- It is possible for brokers to create for all their clients their primary profile, in combination with identification code and appropriate wallet.
- The ability for each personal customer to create their own profile, with a relative Inscoin wallet. Download all policy functions for evaluation and quotes.
- Buy a policy, the Smart 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.
HOW IT WORKS ON
BLOCKCHAIN?
The certification of the authenticity of the policies will be carried out partly on the internal platform of Knox Insurance and partly on the Blockchain of Ethereum. At the end of the certification process, will be issued a smart contract that combines the authenticity and coverage of the policy while respecting the privacy rights of the contracting parties.
Requirements
- Signup here
- Enter your email and password
- Wait for code in your email to continue. Please be patient, sometimes it might be delayed and endavour to check your spam/junk folder
- After getting the code and successfully sign in, click on the airdrop menu
- Complete all tasks under Earn with social and receive 50 INSC
- Share your personal link with your friends, and receive 7.5 INSC for every friend referred.
Deflation Plan and Token Economy
15% of the supply (Broker WhoSaler reservers) will, at the end of the ICO, be temporarily blocked by a smart contract for 1 year. Starting from this basis we have foreseen a further controlled reduction of the working capital based on the sale of insurance policies.The collection of premiums in inscoin is articulated like this:
- For premiums < $ 1'000'000 1% must be paid in INSC.
- For premiums < $ 100'000 3% must be paid in INSC.
- For premiums < $ 50'000 5% be paid in INSC.
- For premiums < $ 10'000 10% must be paid in INSC.
- For premiums < $ 500 20% must be paid in INSC.
The inscoin collected per single policy, as soon as received by the company, will be blocked by a smart contract for a period of one year. After this, they will subsequently be released at a quarterly rate of 25% of the total received and used to support the increase in turnover of the three companies and ensure a healthy token economy.
In insurance, how payment is made or what is actually paid is complicated. In the KNOX platform, this issue simply does not exist. INSCOIN Token, a cryptocurrency based on Ethereum ERC20 technology, is used for every payment on the platform. This is goodbye to unfinished insurance claims or late payments since the smartest ethereum technology contracts reached by insurance and insured companies, execute the terms of the agreement guaranteed to make payments immediately. Users can not be fooled, no matter who they are dealing with.
Token Sale
TEAM
The conclusion
INSCoin is an ambitious project that aims to revolutionize the insurance industry! In fact, starting from a proven know-how of the business and combined with the implementation of the Blockchain, through the Smart Contract, InsCoin For Knox Project will succeed in its intent:
- Trust and maximum transparency in relations between Company and Insurant
- Combating Counterfeiting of Policies
- Issuing automated and decentralised insurance policies
For More Information Click Below:
- WEBSITE: https://inscoin.co/#home
- WHITEPAPER: https://inscoin.co/documents/Whitepaper-DE.pdf
- FACEBOOK: https://www.facebook.com/Inscoin-for-Knox-1802470656458272
- TWITTER: https://twitter.com/INSCOINforknox
- LINKEDIN: https://www.linkedin.com/company/inscoin-holding-ou /
- REDDIT: https://www.reddit.com/r/InsCoin /
- TELEGRAM: https://t.me/inscoinico
- ANN THREAD: https://bitcointalk.org/index.php?topic=4422850
Author: enno.netral
ETH: 0xbDF56fAC1d4b6591178a8bc94A53B01F1fec2861
