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"Introducing To You, The First Blockchain Based Insurance Company"

Wednesday, August 22 2018

What do we understand by insurance?
It is a general conceived notion that insurance is a means of indemnity against a future occurrence of an uncertain event.
Insurance has been a salient tool that has been in existence for a very long time and of course has been part of the growth and development of modern businesses in the world today.

One major fact that has defined the insurance sector for years is its ability to adapt to its practices and suit the changing technological landscape that has emanated. It is very obvious that the industry has changed rapidly and at an alarming rate.

Blockchain which is known to be the latest game technology modifier to include images and many predict or assume that distributed ledgers can have a profound effect on how insurance companies can operate.

The introduction of blockchain technology over the years has been a welcome development. There were many problems facing most sectors prior to the invention of blockchain technology. Centralization has caused problems where some of these problems are what we have seen in most of our financial institutions ranging from several banks to insurance companies.

Prior to the introduction of blockchain technology transactions and document certification made in insurance companies manually, it did not involve the use of digital currency which has led to a series of problems such as bad policies, forgery, insecurities that should not happen in insurance companies as well as misunderstandings between customers, brokers and companies .

KNOX PLATFORM
This is a great company that introduces the addition of blockchain technology to existing methods previously used with the use of crypto currency to find possible solutions to fraud issues, certifications, and other issues appearing on the platform.
The policy adopted by Knox Company will support the old method and the new implementation to solve the problems facing the insurance company. The KNOX insurance company will be located in the following places, Lisbon, Dubai, and the Bermuda Islands to allow free operation without any restrictions

Blockchain technology is very important for insurance companies in the following ways. This saves customers from illegal activities due to decentralization. Also increase the company's cash flow by eradicating the delay in the amount to be paid for contracts made by the customer. Also helps brokers by getting instant commissions without delay.

This KNOX project is the first insurance company that aims to unite the real world with the digital, creating the most effective and advanced structure in this sector to find a solution to the problem of certification and anti-forgery of insurance policies. The company KNOX provides for the provision of insurance policies, both in traditional paper form, and in the form of smart contracts. This is very convenient for users, since they can fully control their actions in real time under conditions of complete security and transparency.

With a smart contract, the spread of fake insurance policies is avoided because it is the same system that issued them after receiving payment. With a smart contract, the company will not have a delay in collecting credit, because the policy is issued only after receiving payment. This factor aims to significantly improve company management. With a smart contract in the event of an accident, real judges who will decide whether or not to pay them are no longer companies, which can have opportunistic behavior, but the blockchain system, in really not interested in human opinion, will decide whether this accident complies with the provisions of the policy. This benefit will be the most important because it will increase the company's transparency towards customers.

With smart contracts, the spread of fake insurance policies is avoided because it is the same system that issued them after receiving payments. With a smart contract the company will not have a delay in collecting credit, because the policy is issued only after receiving payment. This factor aims to significantly improve company management.

By contracting intelligently in the event of an accident, real judges who will decide whether or not to pay them are no longer companies, which could have opportunistic behavior, but the blockchain system which, in really not interested in human opinion, will decide whether this accident corresponds to provisions in the policy. This benefit will be the most important because it will increase the company's transparency towards customers.

Advantages for users of tokens:

For customers;

A smart contract helps prevent the occurrences of fraud in the sphere of the insurance services.
Full control of the overall insurance policy: the customer will have control over the insurance policies by accessinh all the company servicess and policies using the web version or mobile application. Life made easy! Isnt it?

For the insurance company;

The use of smart contracts will not allow delays in collecting premiums and that means they can easily get their premiums at a veryshort period of time without any bit of delay.

For brokers;

There is full trust in the holders and beneficiaries, there can be instant check by the administrator and there is also rapid allocation of commissions.

INSCOIN
This is the crypto currency that will be used for each activity or transaction at https://www.inscoin.co/

Details of ICO
Token Type INSC => ERC20 (Ethereum Network)

Token Total Supply => There is a total supply of 500,000,000INSC

TOKEN SALE => Total
270,000,000INSC allocated for token sales

Exchange Rate => Token will be redeemed with value 1ETH = 5000INSC.

Soft Cap = There is an excellent 4TH ETH soft cap project for this project.

Hard cap => Hard-cap 39,444 ETH while unsold token will be destroyed after the token sale period.

PRE-ICO => Pre-Ico for initial investors starts on June 23, 2018 and will expire on July 7, 2018.

ICO => Ico starts on July 23, 2018 and ends on August 23, 2018 which is the exact period of 1 month.

There is an additional bonus that is allocated for each phase of ICO which is a good development for investors

TOKEN ALLOCATION

54% of total supply has been allocated for token sales