I read whitepaper but i didn't understand right this part


Insurance of blockchain business transactions - benefits and more detail explaination with user cases for future

thanks

i find Insurepal at cointelegraph


Insurance About to Make a Big Jump Into Crypto World: InsurePal ICO Starts on January 16

InsurePal is challenging the $7 trillion global insurance market of today with a distributed, self-adjusting insurance platform. Harnessing the power of blockchain, they introduce a completely new model of risk selection, guided by the science of social proof. In other words, their network uses peer-to-peer endorsements to improve segmentation, lower premium costs and offer incentives to their users.

Insurance is one of the sectors that are not usually a part of blockchain discussion. One of the reasons is the industry is so tightly regulated that not many businesses can compete, as they have to undergo severe legal and financial procedures to prove their models` sustainability. The other is its organizational structure, as it is an industry controlled by big corporations with a rigid structure, meaning the entry point is extremely high. And the later, but certainly not the least, is the challenge of how to effectively apply blockchain in insurance. It is not easy to come up with a disruptive new insurance structure that can work as an agile self-adjusting platform, store information the ledger, offer cheaper insurance and attract masses, all at the same time.

However, InsurePal is set to do everything mentioned above. The distributed insurance platform has reinvented the science of social proof to work similarly as a third-party deductible in banking. This means that the policyholder will be able to lower the price of his premium with the help of his trusted contacts. In other words, his endorsers also accept financial responsibility in case the policyholder makes at false-claim. The simplest application of social proof would be in motor insurance, as explained in their whitepaper: John`s best friend Mary knows his driving habits and therefore endorses him. For that, she gets an immediate bonus, whilst John ends up with a cheaper premium. If nothing goes wrong, that is pretty much it. However, if John files an at-fault claim, Mary is the one held liable.

Therefore, social proof is peer pressure put to good use: it motivates beneficiary behavioral patterns and changes groups, and even society for better without aggressively invading privacy. And, blockchain`s immutable record is an impeccable way to store the social proof into the ledger. As such, it can serve as an important sign of one`s diligence and can be used to gain benefits across various insurances and even across different industries.

One of the InsurePal`s most exciting use cases is definitely the insurance of blockchain business transactions. The team is convinced this type of insurance will bring in the missing trust among all the stakeholders and serve as an additional boost to the rising decentralized economy. Certainly, the platform also promises many interesting features to incentivize both, the engaged crypto users and those who have not yet meet with the world of crypto.

The InsurePal team is 30 members big, comprised of experienced and renown insurance professionals and blockchain, IT and communications experts with a track record of successful projects; a PoC published on GitHub and, what is rare but very promising, an innovative solution that was filed for patent protection in US and worldwide. For more information, please visit their webpage or read their whitepaper and mark January 16 as the starting day of their crowdsale.

https://cointelegraph.com/press-releases/insurance-about-to-make-a-big-jump-into-crypto-world-insurepal-ico-starts-on-january-16


What if ETH prices will reach 1000$ or 1500$?

Will there be some flexible calculations?

Thank you very much

i think this one has a direct actual use to the market. i'll be waiting for bounty updates on this one and will definitely join.

ok i read whitepaper


Is the model applicable to countries on all continents?

Or do you know of a market you won't be able to enter?

thanks for answer!

The first project in blockchain based decentralized insurance platform powered by social proof guarantee. Token supply only 300,000,000 IPL with price $0.01 / 1IPL. Do you have bounty program for this project dev?

Hallo Dev, I want to know how you demonstrate InsurePal for more people to know about this project? There may be additional promotions. I think the project you built is very good to follow.

Any bonus programs?

How many threads does this coin need?

which country is your main market at the beginning of the project? how long is the processing cycle of a cross regional insurance claim?

Hello dev. Your team does not have any bonus programs and bounty programs . You have signature programs, airdrop, twitter, facebook, ...

Bonus programs and bounty programs will make the community more aware of your coin.

All insurance stuff must be made transparent and strictly controlled by the officials so nobody fakes his own death and then get himself money as some anonimous Guy Fawkes somewhere in the republic of Los Pendejos Archipelago and then he'd drink piña colada for the rest of his life knowing that his insurance couldn't be verified by anyone ))))

So this is a block chain insurance, so how ill the holder of the coins will get their infestation for this coins?

new ICO looking promosing, seems you have designed this project well. maybe i am needed more next information about new your project.  any bounty?  are you going to launch it?