INSCOIN — The First Blockchain Based Insurance Company

3 min readJul 21, 2018

What Is Inscoin ?

The new undertaking is as of now being developed and utilized for the Knox Project ICO. What’s more, the whole undertaking is created to help enhance client associations with aggregate and full straightforwardness. There is a great deal going ahead with the new organization, and there is a considerable amount of data on the organization site. That, as well as the data on the site, is separated into a few distinct segments, all which are anything but difficult to explore through and give you all that you have to find out about the coin.

The insurance policies issued by the Knox Insurance will be good in traditional paper form and in the form of smart contracts, allowing customers to monitor their policies in real time, in full transparency and security. Thanks to the platform developed by knox insurance, the policy will evolve into a fully automated and eliminate the possibility of conflict of interest between the parties involved.

Benefits of Blockchain technology for the insurance industry

Benefits for the customer

Customers will avoid insurance policies that harm customers.
Customers have full access to control of insurance policies written in Blockchain technology
Customers can access company services and verify their policies using WEB or the Mobile Platform.

Benefits for the company

A company will be easy in collecting Premium and will not experience delays in collecting it.
Fraudulent policies will never be bored with the company.
Blockchain technology will improve the company’s operational processes and improve security.

Benefits to Brokers

A broker will get Credibility in front of policyholders and get the benefits
Checks will be faster on the admin’s instant report
Get commissions faster

How it Works from Inscoin

This will be done gradually, the first thing to do is the authenticity of the certification policy will be partially done on the Knox Insurance platform and some will be done in Blockchain Ethereum. Once the process is complete then the end of the certification process will be issued a smart contract, this smart contract that will combine the authenticity and scope of the policy. Another function of the smart contract is to maintain the privacy of the contractor.