gxmonitor
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June 24, 2018, 10:06:32 AM |
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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/ |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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drwoo
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June 24, 2018, 09:53:13 PM |
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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? |
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chunt
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June 25, 2018, 05:51:44 AM |
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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. |
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gxmonitor
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June 26, 2018, 11:24:14 AM |
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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 |
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drwoo
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June 26, 2018, 05:23:25 PM |
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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. |
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chunt
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June 27, 2018, 05:36:37 AM |
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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-ea850633f469To 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 |
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copy
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June 27, 2018, 03:25:48 PM |
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Hi! What are you called "Black" insurance? Black is associated with something unregulated and illegal (Black market)  |
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chunt
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June 28, 2018, 05:59:59 AM |
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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 |
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icosiren
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June 28, 2018, 07:13:31 PM |
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godblessyou12
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June 29, 2018, 08:40:34 PM |
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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 |
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gxmonitor
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July 02, 2018, 12:00:28 PM |
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drwoo
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July 02, 2018, 07:38:00 PM |
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They have had some good public exposure and if they execute everything according to their plan, man, this could be a good one! |
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