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.
Insurance companies will be established in Lisbon, Dubai, and the Bermuda Islands, to enable Knox insurance to operate in various laws and enable token economies on a global scale.
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.
WITH KNOX, the web and mobile platform will enable the customers to have access to the company’s services at any given time to check and verify his policy.
Since the insurance policy is written on the block chain, the customer has total control over it.
On the side of the company a strong security system will help in improving its processes as well as eliminate cases of fraud traceable to other existing analogue insurance companies.
The INSCOIN project intends to use, among the many available, the Ethereum
blockchain, which currently presents the largest number of real used cases and
economy of services and transactions currently in operation. Ethereum makes
available, using its infrastructure and ERC20 technology, the creation of digital
private coins of controlled issuance (token) with which it is possible to support
an entrepreneurial project. The sale of tokens allows companies to gather
economic resources necessary for the development of a project in which the
token itself will play a key role. The token in this sense enables new technological
possibilities that offer innovative services.
The goal of KNOX is to reach, by exploiting the blockchain, a decentralization of
the whole insurance system. Decentralization means the transformation of
traditional insurance policies from paper into smart contracts.
At the same time as the start of the three insurance companies, once the legal licenses have been obtained, with the help of the funds raised, an internal exchange platform will be created. This platform will have a fundamental role, through it the customer can access the purchase of insurance products covered by the structure.
The certification of the authenticity of the policies will be carried out partly on the internal platform of Knox Insurance and partly on the Blockchain of Ethereum. At the end of the certification process, will be issued a smart contract that combines the authenticity and coverage of the policy while respecting the privacy rights of the contracting parties.
The main functions of this platform will be Creation of customized profiles for Brokers, with their personal inscoin wallet.
Possibility for the Broker to create for all his clients their underlying profiles, combined with his identification code and related wallet inscoin.
Possibility for each private customer to create their own profile, with relative inscoin wallet. Direct loading of all the policy features for an evaluation and a quote.
Possibility of paying the policy as described in the previous paragraph. Reception, in case of purchase of the policy, of the address of the smart-contract with which you can verify the authenticity.
HOW INSCOIN FOR KNOX INSURANCE COMPANY WORKS:
The authenticity of the policies will certified both on the internal platform of Knox Insurance and on the Ethereum Blockchain. A smart contract that combines the authenticity and coverage of the policy with respect to the privacy rights of the contracting parties involved will be issued at the end of the certification.
TOKEN AND ICO DETAILS
Token – INSC
Platform – Ethereum
Type – ERC20
Price – 1ETH = 5000 INSC
Bonus – Available
Min. investment0.1 ETH
Accepting – ETH
Distributed in ICO – 54 %
Soft cap – 4,000 ETH
Hard cap – 39,444 ETH
Tokens for sale – 270,000,000
Unallocated tokens will be burned after the end of the ICO.
The INSCOIN token is a fundamental part of our project. Through it the customer can pay insurance premiums and can access the maximum degree of authenticity of the policy, receiving it in the form of smart contract.
Inscoin’s supply will be 500.000.000 and will be distributed like this:
54% Token Sale
15% Blocked reserve (Broker WholeSaler)
10% Team and Advisors
9% Reserves distributed to the 3 insurance Companies (blocked for 3 months and 10% monthly release)
10% Broker Network partnership, Legal and Insurance advisor
2% Airdrop and Bounty program
For more information, please visit:
Website : https://www.inscoin.co/
Whitepaper : https://inscoin.co/assets/content/whitepaper_en.pdf
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1847143