📢 [ANN]Black Insurance digital insurance company on the blockchain

[gxmonitor]

Black Insurance will use two types of tokens:

Black Platform Token (BLCK). All platform users will use BLCK for managing insurance on the Black platform, and demand for BLCK will increase as more insurance business is conducted on the platform.

Black Syndicate Tokens  (BST) which is a security token. BST will be issued when the platform is ready.To learn more about Black:

http://www.black.insure/

[drwoo]

Hi Drwoo!

Thanks for joining us!

Black will be a licensed insurance company that provides insurance capacity to Agents, Brokers and MGAs enabling them to launch their own virtual insurance companies.

Insurance business will be generated by local MGAs / Brokers / Agents whose responsibility is designing insurance products for a market, pricing and selling the product and organizing claims handling.

Delegating business to local agents makes the Black business model scalable while bringing business decisions closer to end customers.

Couldn't it also be an option that any individual can come up with an insurance product and offer it via your platform?

[chunt]

Hi Drwoo!

Thanks for joining us!

Black will be a licensed insurance company that provides insurance capacity to Agents, Brokers and MGAs enabling them to launch their own virtual insurance companies.

Insurance business will be generated by local MGAs / Brokers / Agents whose responsibility is designing insurance products for a market, pricing and selling the product and organizing claims handling.

Delegating business to local agents makes the Black business model scalable while bringing business decisions closer to end customers.

Couldn't it also be an option that any individual can come up with an insurance product and offer it via your platform?

Hi Drwoo, due to legal and technical requirements, currently we will offer the platform for Agents, Brokers and MGAs to launch their insurance startup.

We connect the idea to the capital directly, replacing the parties that are not needed in the value chain with  technology.  We  will  do  this  through  crowdfunding,  also  giving  smaller  investors  a  way  in.  This  leaner  model  gives  more  responsibilities  to  insurance  brokers  and  control  over  the  products  they 
are selling. Insurers as we know them today are simply a trusted third party - blockchain gives us an alternative to that and the need for insurers disappears.

[gxmonitor]

We're proud to announce Alex Norta, Adviser at Black Insurance, will be speaking at BlockchainSummit at Olympia, London (26/27 June).

https://twitter.com/BlockchainHQ/status/1009769409546727424

[chunt]

The research claimed that those companies that would benefit most from blockchain include those with the need for (1) transparency in transactions, (2) current dependence legacy storage systems and (3) a high volume of transmitted information. https://techcrunch.com/2018/04/19/do-you-need-a-blockchain/?guccounter=1

To find out more about Black Insurance, please visit https://www.black.insure/

Please check out our introduction video too! https://www.youtube.com/watch?v=xf8VKYGEB3w

[gxmonitor]

Permissioned blockchains deployed in insurance consortia yield comprehensive industry benefits across the value chain in three categories: (1) preventing fraud,
(2) championing interoperability in multi-party processes and
(3) facilitating consumer trust and ease of auditing through data transparency and immutability.

https://insurtechnews.com/insights/insurance-on-the-blockchain

[drwoo]

Hi Drwoo!

Thanks for joining us!

Black will be a licensed insurance company that provides insurance capacity to Agents, Brokers and MGAs enabling them to launch their own virtual insurance companies.

Insurance business will be generated by local MGAs / Brokers / Agents whose responsibility is designing insurance products for a market, pricing and selling the product and organizing claims handling.

Delegating business to local agents makes the Black business model scalable while bringing business decisions closer to end customers.

Couldn't it also be an option that any individual can come up with an insurance product and offer it via your platform?

Hi Drwoo, due to legal and technical requirements, currently we will offer the platform for Agents, Brokers and MGAs to launch their insurance startup.

We connect the idea to the capital directly, replacing the parties that are not needed in the value chain with  technology.  We  will  do  this  through  crowdfunding,  also  giving  smaller  investors  a  way  in.  This  leaner  model  gives  more  responsibilities  to  insurance  brokers  and  control  over  the  products  they 
are selling. Insurers as we know them today are simply a trusted third party - blockchain gives us an alternative to that and the need for insurers disappears.

I understand. I just thought it might be very interesting if individuals could offer insurance for very specific things they personally know or experienced.

[chunt]

Hi Drwoo!

Thanks for joining us!

Black will be a licensed insurance company that provides insurance capacity to Agents, Brokers and MGAs enabling them to launch their own virtual insurance companies.

Insurance business will be generated by local MGAs / Brokers / Agents whose responsibility is designing insurance products for a market, pricing and selling the product and organizing claims handling.

Delegating business to local agents makes the Black business model scalable while bringing business decisions closer to end customers.

Couldn't it also be an option that any individual can come up with an insurance product and offer it via your platform?

Hi Drwoo, due to legal and technical requirements, currently we will offer the platform for Agents, Brokers and MGAs to launch their insurance startup.

We connect the idea to the capital directly, replacing the parties that are not needed in the value chain with  technology.  We  will  do  this  through  crowdfunding,  also  giving  smaller  investors  a  way  in.  This  leaner  model  gives  more  responsibilities  to  insurance  brokers  and  control  over  the  products  they 
are selling. Insurers as we know them today are simply a trusted third party - blockchain gives us an alternative to that and the need for insurers disappears.

I understand. I just thought it might be very interesting if individuals could offer insurance for very specific things they personally know or experienced.

Hi Drwoo, I agree! Democratising insurance further will only benefit us all 

When the legal and technical requirements change, we will be happy to explore these opportunities.

======

To begin our review of the “Insurance Economy” supported by Black Insurance, we would like to illustrate the high-level, value exchanges that are happening between participants. https://medium.com/blackinsurance/the-black-platform-value-exchange-overview-and-transaction-scenarios-ea850633f469

To find out more about Black Insurance, please visit https://www.black.insure/

Please check out our introduction video too! https://www.youtube.com/watch?v=xf8VKYGEB3w

[copy]

Hi! What are you called "Black" insurance? Black is associated with something unregulated and illegal (Black market)

[chunt]

Hi! What are you called "Black" insurance? Black is associated with something unregulated and illegal (Black market)

Hi Copy, great question! Black does not imply illegal, we are totally legal! 

Black is a digital insurance company on blockchain. Our platform connects insurance
brokers directly with capital enabling them to launch their own virtual insurance
companies. Thus removing the trusted third parties (Insurance Companies) from
the value chain.

First, Black is a platform where our business users can design insurance covers, get them capitalised, and write policies. Formally, it's Black Insurance that is writing the policies on behalf of the business users, but we don't design, underwrite or sell the insurance products ourselves - that's up to our users.

We have a roadmap for applying for an insurance license just in Europe (EEA), currently. Becoming a licensed insurer is unfortunately a costly and time consuming exercise, but we have great advisors and everything is in place.

This means that in 2019, we and our users are only eligible to write insurance policies in EEA. However, a portion of the future business users (we have a network of dozens insurance brokers and other parties) already have the necessary licenses, and they can start issuing policies in other countries right after the platform is live.
Down the road, we intend to apply for licenses at other markets as well, with current plans to start expansion with the US.

To learn more about Black: http://www.black.insure/

Black Insurance Introduction Video: https://www.youtube.com/watch?v=xf8VKYGEB3w

[gxmonitor]

How Blockchain Will Help Small Businesses Challenge Even the Largest Rivals...

https://www.entrepreneur.com/article/312923

[icosiren]

Black Insurance is rated well on https://icosiren.com/ico/black-insurance/

[godblessyou12]

The insurance industry is one of the few examples, in which the blockchain can produce a significant impact. In the insurance business, it is clear that traditional insurers are a centralized source of delays and inefficiencies. Blockchain technology allows replacing these insurers with efficient automated processes, reducing administrative overhead and time to market.

https://medium.com/@jilliangodsil/blockchain-based-insurance-disrupting-an-industry-372171266e55

[chunt]

Black Insurance noted as one of the 5 ICO projects you should pay attention to in the coming months. 

https://medium.com/@Journalancer/five-upcoming-icos-you-should-pay-attention-to-c2e803ce0ec8

To learn more about Black: http://www.black.insure/

Black Insurance Introduction Video: https://www.youtube.com/watch?v=xf8VKYGEB3w


Blockchain beyond the hype: What is the strategic business value? How can companies determine if there is strategic value in blockchain that justifies major investments?

https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/blockchain-beyond-the-hype-what-is-the-strategic-business-value

To learn more about Black: http://www.black.insure/

Black Insurance Introduction Video: https://www.youtube.com/watch?v=xf8VKYGEB3w



[moderator's note: consecutive posts merged]

[gxmonitor]

BlackInsurance noted as one of the 5 ICO projects you should pay attention to in the coming months.

Read more: https://medium.com/@Journalancer/five-upcoming-icos-you-should-pay-attention-to-c2e803ce0ec8

[godblessyou12]

We have previously talked about implementing insurance products using smart contracts and how insurance-related assets can be represented on the blockchain. In this article, we look at the reason behind the selection of the Black Insurance technology stack, using it as an example for blockchain-based enterprise applications. 

https://medium.com/blackinsurance/selecting-a-technology-stack-for-enterprise-blockchain-applications-cfefa329326d

To find out more about Black Insurance, please visit https://www.black.insure/

[chunt]

How can Black Insurance provide both, transparency of the insurance industry, and privacy for policyholders?

The answer is using two blockchains, a permissioned blockchain and the public Ethereum blockchain. Brokers, investors and insurers interact in private transaction on a Hyperledger Fabric-based blockchain. This private chain which is interfaced with the public Ethereum blockchain. https://medium.com/blackinsurance/dealing-with-privacy-in-smart-contract-based-insurances-4087319f9b48

To find out more about Black Insurance, please visit https://www.black.insure/

Please check out our introduction video too! https://www.youtube.com/watch?v=xf8VKYGEB3w

[gxmonitor]

Nice Read : "Meet BlackInsure, digital insurance company on the blockchain"

http://www.digitalinsuranceagenda.com/202/black-insurance-digital-insurance-company-on-the-blockchain/

[drwoo]

Nice Read : "Meet BlackInsure, digital insurance company on the blockchain"

http://www.digitalinsuranceagenda.com/202/black-insurance-digital-insurance-company-on-the-blockchain/

They have had some good public exposure and if they execute everything according to their plan, man, this could be a good one!

[chunt]

The future is bright with Black Insurance, thanks for your support Drwoo! 


===

"Innovation takes place on an international level". Take a closer look on 5 insurtech battles:   

http://www.digitalinsuranceagenda.com/191/the-five-insurtech-battles/

To learn more about Black: http://www.black.insure/

Black Insurance Introduction Video: https://www.youtube.com/watch?v=xf8VKYGEB3w