INSCOIN - The First Decentralized Insurance Company

abiola120 (4)in #ico • 6 years ago

Every risk involves the loss of one or other kind. In older time, the contribution by the person was made at the time of loss. Today, only one business, which offers all walks of life, is insurance business. Owing to growing complexity of life, trade and commerce, individual and business firms and turning to insurance to manage various risks. Every individual in this world is subject to unforeseen uncertainties which may make him and his family vulnerable. At this place, only insurance helps him not only to survive but also recover his loss and continue his life in a normal manner.

Insurance is an important aid to commerce and industry. Every business enterprise involves large number of risks and uncertainties. It may involve risk to premises, plant and machinery, raw material and other things. Goods may be damaged or may be destroyed due to fire or flood. Some risk can be avoided by timely precautions and some are unavoidable and are beyond the control of a business. These unavoidable risks can be protected by insurance. and this is where the KNOX project steps in.

WHAT INSCOIN IS ALL ABOUT
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.

KNOX insurance to operate in different legislative acts and resolve the symbolic economy on a global scale.
The KNOX project, which is on its journey of being the first insurance project built on the BlockChain technology, intends to create a revitalized insurance sector in it’s bid to find lasting solutions to the problem of certification and anti-forgery of insurance policies. The main agenda of KNOX is a “decentralized insurance system”, which would transform traditional insurance policies from paper into smart contracts. As we all know that certified transactions in the BlockChain cannot be falsified, so will the certification of insurance documents not be falsified if built and recorded in the BlockChain ecosystem, and this is the point that the KNOX project is driving to.

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.
The KNOX-BlockChain project will be kicked off using the INSCOIN token which will be built on the Ethereum smart contracts platform. Being the fundamental part of the KNOX project, the INSCOIN token will be used by customers to pay insurance premiums and also access the maximum degree of authenticity of the insurance policy, by receiving it in the form of smart contract.

ICO STRUCTURE.

Ticker : INSC

Type : ERC20.

Supply : 500'000'000 INSC

Price : 1 ETH = 5'000 INSC

Allocation Token :

Token sales = 54%.

WholeSaler Broker = 15%.

Team and Counsel = 10%.

Network Partnership Brokers = 10%.

Reserves for 3 companies = 9%.

Airdrop and Bounty Program = 2%.