Black is a digital insurance company in blockchain. Black connects insurance entrepreneurs with capital. It leverages blockchain technology to bring democracy, transparency and cost effectiveness into an established field that strives to meet the demands of the digital age.
There are currently three parties in the insurance value chain – customers, capital entrepreneurs and insurers
The way the insurance industry works today does not adequately meet the needs of these parties.
1. At present, there is a lot of bureaucracy involved and the time for the market is measured in a few years. The creator of the product and the customer is too far away.
2. The new period brings new risks and customer expectations. Insurance industry fails to keep pace with customer needs.
3. Investment in insurance is only open to institutional investors. This means that retail investors are smaller and have no way.
The Black Platform creates a blockchain ecosystem for all those who will bring transparency, democracy and efficiency to the insurance industry. It connects insurers with innovative ideas for the capital they seek. All policies are written on blockchain, greatly reducing transaction costs and giving everyone the same playing field to do business.
1. Insurance companies can set up virtual insurance companies, get funding and start distributing innovative insurance products. They can do this faster than they do now. Time to market is reduced from 2 years to 2 months.
2. Customers benefit from new products that suit their needs. On top of that because transaction costs are lower, customers can enjoy a more affordable price. New and innovative products get the market faster. Customers have more options to choose from. 
3. Investors can syndicate crowdfund syndicates without the need to have a large amount of capital. Even smaller investors can invest their investments in pots and enjoy a return from a stable and reliable insurance portfolio.
Insurance companies have fees for admin expenses and net income from the Gross Written Premium. The industry average is 20%.
Black can reduce costs by 5-10% with blockchain technology.
* Entrepreneurs list their insurance products.
* Investors can establish and utilize investment syndicates by investing in tokens and allocating capital among various products.
Policy is written in blockchain as smart contract.
* Users have access to unchangeable data (premiums sold, claims, profits) on the platform.
* Profits are distributed automatically between token holders.
Black Insurance will issue two types of tokens:
Black Land Token (CPM: utility tokens) empowers infrastructure, enables access to systems, funding and technical selection for future platform development. All users must pay in CPM to transact business on the Black platform, so the bigger the business on Black platform, the higher the demand for CPM.
Black Syndicate Token (BST; security token) (will be published later when the platform is ready).
BST, one per syndicate, token cap depends on the amount of capital needed. BST is an investment into insurance capital that generates revenue based on the profitability of the insurance portfolio in which this particular syndicate invests. BST tokens are security tokens supported by currency.
The Black Insurance is a B2B platform. It changes how insurance is made – the way insurance products are developed and capitalized. It was built for participants in the insurance industry, including brokers, MGAs, insurance companies and investors.
Use of Token funds & Distribution

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avansa avansa

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