INSCOIN MAKES INSURANCE ACCESSIBLE TO THE WORLD

INTRODUCTION

Insurance is a means of protecting one self from financial loses and now we have life insurance, car insurance and other forms of insurance. Blockchain has make life easy for everyone and it is no more a new thing that the features of blockchain technology can be put into a real use in a more realistic way. Developers now solve real life problems making use of blockchain technology and with is accessible, openness and transparency people now accept this new options. The world has a huge population and this is still increasing on daily basis and with country like China, India and some other part of the world with huge population there is need to take care of huge number of people. For a business and people to be safe insurance is important as we have car insurance, life insurance and many more. This why INSCOIN bring insurance to people from every part of the world making use of blockchain technology. INSCOIN is making use of blockchain technology because of the transparency, openness and accessibility it bring to the whole world. INSCOIN has partnered with over 300 insurance brokers from across the globe who are ready to work with the platform. This project is the first of is kind that will solve insurance problem in real life and merging it with the digital one making use of blockchain technology. This platform is developed by Knox insurance and to make this company to operate from different part of the world they will have a office in Dubai, Lisbon and Bermuda Islands. Knox insurance policies will be available in form of smart contract where people can easily monitor and access it and in form of traditional paper form.

              BENEFITS

Customers will be able to access all the company services through the web and the mobile app.
Every customer has total control of insurance policy on the blockchain and everyone can easily view it at any point in time.
The smart contract won't allow any allow any fraudulent insurance activities to be carried out on the platform.
For insurance companies it will make their companies to be more accessible which will bring in more cash flow because there will be no delay in collecting premium.
With blockchain technology, insurance companies will be safe as it improves operational processes.
There will be more security for insurance companies as fraudulent polices can never be charge.

             CONCLUSION

This is an opportunity for people who need insurance to key into this project as millions of people across the globe needs insurance. The price is still very cheap so don't let this opportunity pass you by.

The insurance policy is a contract between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay. The insurer promises to pay for loss caused by perils covered under the policy language.

Insurance fraud is a serious crime that has been around for decades. As there are diverse kinds of insurance there are also fraudulent claims with it. Aside from the burden of investigation there seems also the problem of organized insurance fraud schemes. Those who suffer most from this crime are companies losing almost billions of dollars.

The KNOX Project will be the first company that will use blockchain technology that offers the solution to the problem of insurance fraud, certification and has an anti-forgery of insurance policies. Its goal is the transformation of traditional insurance policies bringing it into smart contracts. The integration of blockchain technology will enable a non-falsification of documents, transparency, security or an overall decentralization of the whole insurance system.

Some of the benefits of insurances using smart contracts:

Improving the efficiency of creating claims
Decrease the problems of paperwork
Takes out the middleman and automatic execution of contracts
Accurate claim assessment and pricing
Automatic payment and claims

Using smart contracts will help an automatic transactions especially in business sector, it also provides transparency whereas all terms and conditions must be validated first before executing, hence providing a trust less agreement. It uses an encryption in the program that is impossible to steal the data and provide speed from the automatic verification and transactions of funds.

The INSCOIN token and Platform

The INSCOIN token will be used as a payment for insurance premium and will have its own platform to enable access of insurance products; for the payment of policies and as a platform where brokers will create profiles for their clients. When the policy is purchased they will receive an authenticated policy and a code of it with the address of the smart contract. To protect the value of INSCOIN token from deflating the team plan to lock up for 1 year the 15% of the broker’s supply after the ICO and will then be released at 25% quarterly. It is also stated that any unsold tokens will be burned.

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WHAT INSCOIN IS ALL ABOUT
KNOX Company – the first insurance company to combine digital with the real world. Using Blockchain technology, the most effective and powerful structure in this segment is created to solve problems with certification and exclude fake insurance policies. An insurance policy issued by Knox, there will be a traditional paper form and in the form of Intelligent Contracts, which allows customers to control their policies in real-time, in complete security and transparency. Thanks to the site, developed by Knox insurance company, the policy will be developed to be fully automated and exclude the possibility of conflict of interest between the parties involved.

KNOX insurance to operate in different legislative acts and resolve the symbolic economy on a global scale.
The KNOX project, which is on its journey of being the first insurance project built on the BlockChain technology, intends to create a revitalized insurance sector in it’s bid to find lasting solutions to the problem of certification and anti-forgery of insurance policies. The main agenda of KNOX is a “decentralized insurance system”, which would transform traditional insurance policies from paper into smart contracts. As we all know that certified transactions in the BlockChain cannot be falsified, so will the certification of insurance documents not be falsified if built and recorded in the BlockChain ecosystem, and this is the point that the KNOX project is driving to.

What are the advantages of using Blockchain and Smart Contract?

For customers

Smart Contract prevents fraudulent insurance policies, since the same system will grant them after payment.
Clients have full control over insurance policies written in Blockchain, which can be checked by anyone at any time.
Client, via WEB and mobile platform, can access all company services and check their policies.

For insurance companies

Thanks to Smart Contracts, there will be no delay in collecting premiums, this will significantly increase the company’s cash flow.
Thanks to Blockchain, the company can not be accused of fraud.
Blockchain improves operational processes and provides a truly impenetrable security system.

For brokers

Gain trust before holders and beneficiaries.
Instant inspection report by administrator.
Immediate commission distribution.

Company Plan
Obtain a legitimate license with the help of raising funds and creating an internal exchange platform. This platform will have a fundamental role, in which the client can access purchases of insurance products made by the company structure.

The main functions of this platform are:

Create individual profiles for brokers with their personal wallets.
Possibility for brokers to create for all their clients their primary profile, in combination with identification code and corresponding wallet.
Ability for each personal customer to create their own profile, with relative Inscoin wallet. Download all policy functions for evaluation and quotes.
Buy a policy, the Intelligent Contract address, where you can verify the authenticity.

The internal platform is very important for this project, because this we can effectively manage all the project innovations.
The KNOX-BlockChain project will be kicked off using the INSCOIN token which will be built on the Ethereum smart contracts platform. Being the fundamental part of the KNOX project, the INSCOIN token will be used by customers to pay insurance premiums and also access the maximum degree of authenticity of the insurance policy, by receiving it in the form of smart contract.

ICO STRUCTURE.

Ticker : INSC

Type : ERC20.

Supply : 500'000'000 INSC

Price : 1 ETH = 5'000 INSC

Allocation Token :

Token sales = 54%.

WholeSaler Broker = 15%.

Team and Counsel = 10%.

Network Partnership Brokers = 10%.

Reserves for 3 companies = 9%.

Airdrop and Bounty Program = 2%.