Black insurance

Good afternoon, fellow investors. I want to tell you about a project today . Black http://black.insure is a digital insurance company in the blockchain. Our platform connects insurance brokers directly with capital, allowing them to run their own virtual insurance company. Thus, the removal of a trusted third party (insurance company) from the value chain. In the 1600s, Edward Lloyd runs a cafe in London where merchants, bankers and sailors come to do business. Lloyd is known for offering the best class of intelligence on delivery, the risks involved, and other similar issues. It has become a popular meeting place for two classes of people: those who wanted to insure their ships against serious damage, and others who were willing to risk and pay compensation when it happened. To insure potential garbage, the risk takers start receiving payments or bonuses. The modern insurance market as we know it.
Black people are here to make a difference.
Black will use the blockchain to transfer risk directly from customers
(insured) to financial sponsors (black-tone holders for syndicates):
Minimize all inefficiencies.
Secure storage of all data in the blockchain.
Transparent business operations using smart contracts.
More rapid innovation for the platform's participants.
Black decides the insurance industry. A black insurance platform like Lloyd's of London is on the blockchain without the costs, delays, and bureaucracy that we are seeing today.
Black Insurance will use two types of tokens:
Black platform token (BLCK)
BLCK provides the infrastructure that provides access to the platform and take a vote on the system platform upgrades (token utilities). All users of the platform will use BLCK to manage insurance on the Black platform, and the demand for BLCK will increase as more insurance business is conducted on THE platform.
Syndicate (BST) black tokens)
(issued when the platform is ready) BST is an investment in insurance capital, and a specific BST is created for each syndicate (security token). The profits of the insurance portfolio for a particular syndicate will be transferred to the BST owners ,
Our solution
Black will become a licensed insurance company that provides insurance opportunities to agents, brokers, and MGA ("Brokers") to enable them to create their own virtual insurance companies. Our ability goes without the traditional overhead of an insurance company while using blockchain as the main platform to get rid of centralized insurance companies.
We link the idea directly to capital, replacing the sides that are not needed in the value chain with technology. We will do this through crowdfunding and also provide smaller investors. This more compact model gives more responsibility to insurance brokers and controls the products they sell. Insurers, as we know them today, just trust a third party-the blockchain gives us an alternative to this, and the need for insurers disappears.
Price analysis
We have analyzed data on listed insurance companies worldwide. We will show that the costs that occur on standard insurance companies that Black has almost eliminated are quite significant. We have collected financial data from various international and Estonian insurance companies
between 2013 and 2016. The data show that administrative costs are quite high in the industry, so there is a possibility of cost reduction. It is also becoming clear that the first insurance companies will first fall, as their administrative costs are relatively high in relation to their gross premiums.
Insurance companies have expenses on administrative expenses and net profit from Gross Written Premium. On average, the industry 20%. This is calculated by obtaining the average amount of data about the administrator's profit and the net profit of insurance companies presented in this blog post.
Black collects fees from users for using the platform for different actions. For example: syndicates Finance an insurance product with capital. The Black Insurance fee will be% of GWP (gross written premium). Fees to be paid in BLCK tokens. Black Foundation will sell tokens in the market to cover the costs of operation: development, HR, admin, legal and marketing. The surplus of tokens will be kept in the company's reserve in cases where costs are rising and the use of the platform is lower.
A little bit about the ICO

The name of the token: the token black platform
Token symbol: BLCK
Soft cover: $ 2 000 000
Hard cover: 45 000 000 US dollars
Maxsimum supply provided that all tokens are sold with a maximum discount: 471 082 089
The structure of the ICO:
Start of pre-sale-31.07.2018 Period
pre-sale-30
Pre-Sale Cap Of $ 15,000,000.00
Pre-sale conditions-First week 25% bonus and after first week 20% bonus
The beginning of sales of token - 8/31 / 2018
Token Sale Period-30 days
Soft Cap - $ 2,000,000.00
Hard Cap Is $ 45,000,000.00
Character Token - BLCK
The total number of tokens is 471 082 090
The exchange rate 1BLCK = 0.2 USD
Minimum purchase - $ 100.00 the
Accepted cryptocurrencies-BTC, LTC, ETH
Adjustability-Unallocated tokens will be destroyed by a current contract.
BLCK listing tokens will be listed in crypto exchanges.
The advantages of Token Holder - BLCK can be used to pay for services on the Black platform. Black will ensure that until January 1, 2021, the service fee paid by BLCK will be at least 20% cheaper than the service fee paid in any other currency.
Restriction of token trading. Only the team and advisors have sales locks and locks.
Our road map
October-November 2017. Ideas and teams are created.
November, 2017 the product Concept is ready.
December 2017 Funding seeds.
May 2018 launched MVP.
Summer, 2018. Total sales for the ICO.
The platform was launched in December 2018 .
Summer, 2019 .
team
The team consists of veterans of the insurance industry and experts in the block chain. This is a great combination of internal knowledge of the insurance industry, knowledge of blockchain technology and crypto space. The founders have over 18 years of experience in insurance software and are in desperate need of a solution that will democratize the field with technology.