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Introduction

Welcome to the Heluss Platform. We are poised to revolutionize the insurance industry by tokenizing and gamifying a portion of your premium back to you, the user. Our Token – HUT – is the driving utility of the platform. Our focus will be on Travel Insurance, Price Protection Insurance and Personal Items Insurance; as we secure licenses and increase our capital base, we will introduce savings, home, auto and loan insurances.
One of the biggest industries today is the travel and tourism industry. It has a global economic contribution of $7.6 trillion. The direct economic impact of this industry, including entertainment, attractions, accommodation, and transportation, was approximately $2.3 trillion. Also, the travel industry is still the fastest rising sector internationally. The industry is massive. According to research from the World Travel & Tourism Council (WTTC), this sector employs more people than the mining, automotive manufacturing, and financial services sectors combined. It employs 7 times more than automotive manufacturing, 5 times more than the global chemicals industry, 4 times more than the global banking industry, 4 times more than global mining industry and 2 times more than the financial services industry.
In 2016, Travel & Tourism directly contributed US$2.3 trillion and 109 million jobs worldwide. This was equal to 10.2% of the world’s GDP, and approximately 1 in 10 of all jobs. Travel & Tourism’s direct contribution to GDP is expected to grow at an average of 3.9% per year over the next ten years. By 2027, Travel & Tourism is expected to support more than 380 million jobs globally, which equates to 1 in 9 of all jobs in the world and the sector is expected to contribute around 23% of total global net job creation over the next decade.
Travel insurance revenue is currently valued at more than $18.1 billion and growing at the rate of 20% annually. The fast growth of this industry is attracting high levels of fraudulent activity. The industry has not been able to solve these issues. Heluss’s goal is to leverage technologies to create an ecosystem where buying a travel insurance policy is tokenized and gamified and uses the Blockchain and its underlying technologies to reduce fraud and increase transparency.
https://www.alliedmarketresearch.com/press-release/travel-insurance-market.html

Problems with Current Travel Insurance Industry

The modern-day travel insurance industry is rife with problems, making it unable to effectively satisfy the needs of world travelers for these reasons:

• A rise in international travel has seen correspondent growth in foreign exchange rate transactions, causing unnecessary and exorbitant travel insurance fees.
• With the preponderance of third party agencies servicing the tourism industry, the risk of sharing personal identity information in multiple places puts users at unnecessary risk.
• The issue of trackable transactions and a lack of privacy;
• The current purchasing methods are confusing and unintuitive which thus diminishes the user experience;
• The claims processing is cumbersome and time consuming;
• The industry is facing a talent crisis; it is an industry with little technological innovation; Gen Y gravitates towards industries which appear to do things better, faster, smarter and more efficiently.

This is where Heluss comes in to not only to fill the void but also to open this exciting and new economy to the Gen-Y generation.

Did Insurance Lose Its Purpose?

Insurance was originally designed to perform the function of risk mitigation – We as a group would pull resources together to help those facing disasters or accidents. Insurance was serving its purpose until someone decided to make the insurance work mainly for an exclusive club - the insurer who would not only cover his cost but also attain astronomical profits.
In the process, the supply chain was stretched, creating multiple middle loops (underwriters, brokers) which significantly added to the cost of insurance. The insured was left scrambling and perplexed, with premiums significantly higher than necessary.
The industry itself has faced significant challenges including fraudulent claims, increased regulations, and ever-increasing costs.

Our Solution

Historically, one would simply pay premiums to a company and the cost is sunk. Only when a disaster strikes, is a benefit ever realized in the form of a paid claim.
What if it were possible to monetize, tokenize, and gamify a substantial portion of a premium and create a tokenized utility that the user controls?
In summary, our solution includes:
   Tokenized and gamified platform creates maximum user engagement;
   Introducing a vault to support the HUT token market value;
   Maximum benefits to the community;
   Blockchain and smart contract provides security and transparency;
   Artificial Intelligence implemented to streamline claims processing.

That is exactly what we intend to do.

 
The Heluss Ecosystem
Blockchain

Blockchain technology is a distributed ledger recording technology; it can record transactions in a secure, transparent, decentralized, efficient, and low-cost way. Blockchain technology originated as the underlying technology to Bitcoin. It was originally used to record historical transactions of encrypted digital currency. Blockchain technology now encompasses cryptography, network topology, and consensus algorithms. Today, there are several types of blockchains. Each type has its advantages and disadvantages, allowing them to meet needs of various applications on a broad spectrum.
Key advantages

Blockchain technology is a disruptive technology with many advantages. The decentralized structure, which lacks a centralized database, enables the blockchain to operate with high efficiency and low cost. It is also resistant to outages of a centralized database.  The public ledger is shared by users on the Internet. It ensures the security, transparency, and integrity of data, which cannot be tampered with or forged. It helps to protect the security and privacy of user data. And because blockchain is programmable, it can increase flexibility and reliability in various applications.
 
Identity Protection On Heluss Ecosystem

Heluss is integrating into its risk profile and identity protections the latest technologies to comply with identity verifications tests (Know Your Client -KYC; Anti Money Laundering - AML; Customer Identification Programs – CIP; Enhanced Due Diligence- EDD; Suspicious Activity Report - SAR; Politically Exposed Persons - PEP).
Heluss is concerned by data security. High profile organizations have been victims of data security breaches with enormous consequences. This is because centralized data storages are a magnet for identity and data hackers. We intend to apply a decentralized data storage.
Compliance with EU General Data Protection Regulation: GDPR changes to data privacy regulations that come into effect on 25 May, 2018 comes with an extended jurisdiction and applies to all companies processing personal data of EU-based subjects, regardless of company’s location. Heluss plans to be fully compliant with this regulation.