On this occasion I want to explain in general about the insurance that we often know so far, here are the reviews:
In general often the public listens to the subject of insurance and some who understand the definition and purpose of the insurance. Should the insurance be understood in a truly and society can do the assessment with more objective. And, they can determine the best for themselves.
A insurance or coverage is an agreement between two or more parties, whereby the insurer binds itself to the insured by accepting the insurance premium, to provide reimbursement to the insured due to loss, damage or loss of expected profit, or legal liability to a third party which may be suffered by the insured, arising from an uncertain event, or to provide a payment based on the death or life of an insured person.
And how can we get to know Insurance based on products introduced by InsCoin, following his review:
There are a few things that are a problem in the insurance industry so far are mainly due to fraud and policy fraud. In this case. Knox's project was born. Strive to clear this blind spot and develop relationships between customers and customers in a safe environment. Reliability and transparency by taking advantage of Blockchain.
The KNOX project will be the first insurance company that merges the real world with the digital one using Blockchain technology, creating the most efficient and advanced structure in the sector, to find a solution to the problem of certification and anti-forgery of insurance policies.
The insurance policies issued by Knox Insurance will be both in traditional paper form and in the form of smart contracts, allowing the customer to monitor their policies in real time, in full transparency and safety. Thanks to the platform developed by knox insurance, the policies will evolve to become fully automated and eliminate any possibility of conflict of interest between the parties involved
With reasonable contracts, disclosure of false insurance policies is avoided as a result of the fact that it is an equivalent problem system when they receive payment. If there is a reasonable contract, the company will not delay in loan grouping, since the policy is issued only after receiving payment. This issue is aimed at improving company management.
Deflation Plan and Token Economy
15% of the supply (Broker WhoSaler reservers) will, at the end of the ICO, be temporarily blocked by a smart contract for 1 year. Starting from this basis we have foreseen a further controlled reduction of the working capital based on the sale of insurance policies.The collection of premiums in inscoin is articulated like this:
For premiums < $ 1'000'000 1% must be paid in INSC.
For premiums < $ 100'000 3% must be paid in INSC.
For premiums < $ 50'000 5% be paid in INSC.
For premiums < $ 10'000 10% must be paid in INSC.
For premiums < $ 500 20% must be paid in INSC.
The inscoin collected per single policy, as soon as received by the company, will be blocked by a smart contract for a period of one year. After this, they will subsequently be released at a quarterly rate of 25% of the total received and used to support the increase in turnover of the three companies and ensure a healthy token economy.
Token Sale
THE TEAM
Conclusion
The KNOX project will be the first insurance company that merges the real world with the digital one using Blockchain technology, creating the most efficient and advanced structure in the sector, to find a solution to the problem of certification and anti-forgery of insurance policies. With the smart contract the spread of false insurance policies is avoided because it is the same system that issues them after receiving the payment.
With the smart contract the company won't have delay in collecting credits, as the policy is issued only after receiving the payment. This factor aims to significantly improve the management of the company itself. With the smart contract in the event of accidents the real judge who will decide whether or not to pay them is no longer the company, which could have an opportunistic behavior, but the blockchain system that, in a totally disinterested by the human opinion, will decide if this accident is compliant with the provisions in the policy.
This benefit will be the most important as it will increase the transparency of the company towards customers. Let's join this project, and find a lot of benefits for you to get here, start to choose your insurance option here INSCOIN.
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