Insure Network is a decentralized digital insurance platform powered by blockchain technology, connecting billions of citizens of Earth.
• The problem statement of current insurance industry1 In the traditional
multi-trillion-dollar insurance industry, only incumbents with
abundant collateral funds are able to readily design and provide an insurance product to customers.
2 As a result of heavy regulation,
domination of incumbents and lack of community contribution, the market power of currently standing insurance companies is
monopolistic. Insurance policies are
non-efficient, expensive, and minimally protective, moreover, geographical borders are limiting the evolution of insurance products.
3 The current system of the claims process is
exhausting. Policyholders have to worry, wait and sometimes, sue the insurance company in order to get the reimbursement.
• Features of Insure Network1 Claims made easy through insurance cards, partnered with leading payment companies (Visa, Mastercard etc.)Policy holders will be able to pay bills or 3rd parties directly with Insure Network insurance cards instead of going through exhausting claims process. Imagine just typing in the amount of funds needed for your car repair or medical expense on your phone. We will open card limit after fast inspection of your claim with our 24/7 running customer service center. Fraudulent claims will be tracked with inspection of transaction records on public blockchain and will be punished according to local regulation.
2 Risk pools are crowdfunded via trusted stablecoins.In the insurance industry, traditionally, only incumbents with abundant collaterals could readily design an insurance product for customers. However, the adoption of blockchain technology has opened a new era of the insurance marketplace where the products, that require such huge collaterals, can be crowdfunded from millions and billions of people around the globe with transaction data recorded immutably in the blockchain.
3 A proper application of the smart contract and the artificial intelligence to insurance claims process significantly reducing time and effort spent on the process.By taking out the unnecessary intermediaries, we can significantly maximize the profit and moreover, talented actuaries will be able to design fascinating products with an attractive price range and variety of options. A majority of the net profit from the insurance product will transparently be given to shareholders of collateral. A minority of it will be shared to insurance product designers, Insure Network Foundation, and Insure Network Token holders. In this way, we will create a marketplace that incentivizes all four groups of players on the platform. The platform itself, investors, product designers, and consumers.
• LinkJoin our vision and find out more about us:
Insure Network ||
https://www.insurenetwork.ioWhitepaper ||
https://www.dropbox.com/s/uk79mgsuw33oayr/Insure%20Network%20Whitepaper%20version0.4.pdf?dl=0Twitter ||
https://twitter.com/Insure_NetworkTelegram [Broadcasting] ||
https://t.me/joinchat/AAAAAEzNiyuLTUrORXTWJwTelegram [Open Community] ||
https://t.me/joinchat/G6lYnxFsUEvmjEm-ebkNeAEmail ||
insurance@insurenetwork.ioYouTube ||
https://www.youtube.com/channel/UCqfF5G8Nk2UPoYLjbzvd4LQ
