[ANN] [IXT] InsureX - blockchain-secured marketplace for Insurance

[NewWorldCoiner]

Coin telegraph have posted an article about InsureX, you can read it here:

World’s First Blockchain Insurance Marketplace To Launch Ambitious ICO

Unfortunately, but somewhat predictably, the PoS that is the Cointelegraph has got the IPO price wrong.

They give the price as 1.125 per 1 ETH. So that would be nearly 89 million ETH, or $26.6 billion.

Well done Cointelegraph! Nice to see you're on the ball as ever!

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[sircy]

Surely, an insurance is what everyone need this day, since we can't guaranty anything that could happen to us. So having insurance is a great decision to make.

[TheDeepestCoin]

Sounds interesting, but have some trouble with the details.
Example: Anna wants to sign a life insurance. During a meeting with the insurance agent she agrees that the insurance company can fetch her medical records.
A letter sends to Anna's doctor who sends the medical record in a letter to the insurance company. There it will be analyzed and stored.
The whole process is old-fashioned (gammaldags).
The medical record could be send electronic, analyzed with modern methods like DNN and stored electronic, but it isn't.
Why? Because insurance industry is old-fashioned or because of legal obstacles?

Is it legal to store Anna's medical records containing intimate details on a server in London?

[adeandrian]

A very good project, will help many insurance companies to grow better in the modern era as now

[InsureX]

Sounds interesting, but have some trouble with the details.
Example: Anna wants to sign a life insurance. During a meeting with the insurance agent she agrees that the insurance company can fetch her medical records.
A letter sends to Anna's doctor who sends the medical record in a letter to the insurance company. There it will be analyzed and stored.
The whole process is old-fashioned (gammaldags).
The medical record could be send electronic, analyzed with modern methods like DNN and stored electronic, but it isn't.
Why? Because insurance industry is old-fashioned or because of legal obstacles?

Is it legal to store Anna's medical records containing intimate details on a server in London?

Hi DeepestCoin,

A DNN to analyse medical records is a very good idea. For now the Insurance industry is old-fashioned and doesn't have much of this kind of technology in place.

The medicals records are already stored inside a Summary Care Record in the UK and exchanged by multiple professionals. We are keeping a close eye on GDPR and other initiatives to stay compliant with regulations.

Thanks,
InsureX - nc

[btcunbranded]

I love the concept and the project, but sometimes you have to be careful.  The great thing about crypto is the decentralized arena that it lives in, basically only dealing with federal regs at the FIAT exchange points.  I am not sure what regulations that insurance deals with fully, but I think we all know that insurance is a highly controlled and regulated market and business system.

Yes, insurance for sure is a highly regulated market.

The brilliant news for this tech is they are based in London - the global leader for insurance, so things like regulation etc will be very easy to keep on top of

Regulation is one of the biggest barriers in any crypto startup thats for sure

[imjustsayintho]

Do you have any clients or will investors have to hope that you meet your roadmap goals of 10 clients later in the future?

[Vaniaayu]

this project looking good, for now just watch and bookmark for first

[InsureX]

Do you have any clients or will investors have to hope that you meet your roadmap goals of 10 clients later in the future?

Hi, yes we have confirmed clients who will be announced officially soon and a line up of companies who are interested to join so we are on track to get 10 to trial our platform. We expect to quickly scale up beyond that once the platform is fully live.

Regards,
InsureX - is

[btcunbranded]

Do you have any clients or will investors have to hope that you meet your roadmap goals of 10 clients later in the future?

Hi, yes we have confirmed clients who will be announced officially soon and a line up of companies who are interested to join so we are on track to get 10 to trial our platform. We expect to quickly scale up beyond that once the platform is fully live.

Regards,
InsureX - is

10 Clients off the starting blocks, very promising

[mullzerwar]

A very good project, will help many insurance companies to grow better in the modern era as now

I have a feeling that this kind of coin will have the opportunity to thrive in the future, since lots of peoples need insurance (many kind of insurance).

[ensign_lee]

Following this thread, can I get link for the bounty thread?

[bezzler]

Following this thread, can I get link for the bounty thread?

I've also waiting for this one, but it still not present in the first post. Perhaps he dev is still preparing it.

[cryptknight1337]

Following this thread, can I get link for the bounty thread?

I've also waiting for this one, but it still not present in the first post. Perhaps he dev is still preparing it.

They have released their bounty thread. This is their bounty campaign link: https://bitcointalk.org/index.php?topic=1965684.0

[kutangterbang]

I hope this project going well and the market rate is rise up cause I already joined for signature and twitter campaign.

[InsureX]

Following this thread, can I get link for the bounty thread?

I've also waiting for this one, but it still not present in the first post. Perhaps he dev is still preparing it.

Hi bezzler, apologies the bounty link is not very prominent. Here is the link: https://bitcointalk.org/index.php?topic=1965684.0

[virasog]

I love the concept and the project, but sometimes you have to be careful.  The great thing about crypto is the decentralized arena that it lives in, basically only dealing with federal regs at the FIAT exchange points.  I am not sure what regulations that insurance deals with fully, but I think we all know that insurance is a highly controlled and regulated market and business system.

Yes, insurance for sure is a highly regulated market.

The brilliant news for this tech is they are based in London - the global leader for insurance, so things like regulation etc will be very easy to keep on top of

That could mean that your token/coin could go from a fairly regulation free universe in crypto to being highly attacked and regulated by the federal government.  I love how devs and projects try to find ways for the common consumer to touch crypto and Bitcoin, combining popular and needed markets, like insurance with a blockchain model, but some are going to be hard to break.

[nonlinearboy]

As we know, the price of the ETH is growing higher and higher, the ICO will start nearly a month later and the token rate is given at 1 ETH = 1,125 IXT, what if the ETH pumps significantly?

[autada]

As we know, the price of the ETH is growing higher and higher, the ICO will start nearly a month later and the token rate is given at 1 ETH = 1,125 IXT, what if the ETH pumps significantly?

Good question, I think they will re-define the rate before ICO starts. It is more fair if the price moves significantly.

[kadscuk]

That could mean that your token/coin could go from a fairly regulation free universe in crypto to being highly attacked and regulated by the federal government.  I love how devs and projects try to find ways for the common consumer to touch crypto and Bitcoin, combining popular and needed markets, like insurance with a blockchain model, but some are going to be hard to break.

There isn't a federal government in the UK

UK law is more business friendly and less cut-throat than in the US

Insurance will always be a regulated market...but storing info on the blockchain etc and using that is an issue of how information is stored, computed and retrieved...its not specific to insurance itself