Will it have zombies
And Milla Jovovich as a PR ambassador =))
How without it? Someone has to fight with the corporation? And really. The name was chosen with the association to the popular series of films.
We chose the name because the concept of an umbrella covering you, like insurance and benefits are supposed to cover you. It has nothing to do with the popular video game/film/fantasy universe. Although if that garners additional interest, great.
First I thought this is a shitcoin started by Umbrella Corporation, if you know what I mean. Read the whitepaper and the idea is really moving. But isnt there a coin already serving this process.? What is the difference between Umbrella and InsureX.?
We think we differ from InsureX in a few ways. We don't necessarily see ourselves as competitors, even.
1. InsureX is providing a platform for buyers and sellers to conduct business for insurance. Our community is both buyer and seller. They make profits by charging a fee and data mining.
2. The insurers on their platform may still not sell coverage that is agreeable to the policyholder. It is also unclear if this qualifies as proof of insurance, or what countries this will launch in.
3. Most importantly, there still may be deductibles, co-insurance, co-pays on the network. InsureX is trying to simplify the traditional insurance process, which is important, but still carries some risk of traditional insurance.
Really, I could make a case for carrying both tokens. InsureX is for traditional larger claims that should be at a better rate, and UMC is for smaller claims.
The reason we're able to handle smaller claims when traditional insurance companies can't is simply process overhead. If you have a minor dent/scratch in your car that would cost $300USD to fix, there is practically no insurance company that would cover that because your deductible would never be that low. Why? Insurers need to file paperwork, do claims adjusting, handle customer service, talk to other parties etc. Filing a claim costs an insurance company more than just the money they pay out. If we incentivize the community with some rewards, we can cut out the big overhead and pay those small claims. If you're buying from a larger insurer on their platform, it is less likely they will cover those small claims.
