What are the Benefits of Tradable Insurance Policies | How FidentiaX Helps In Policy Trading ?
Well, I have been reading about FidentiaX platform for sometime and there are some things which you need to know about this platform:
First of all, I wondered about the trading of Insurance Policies. As we all know that Insurance Policies are for long term and generally people keep them as an assurance against some unforseen future events and in exchange they have to pay a premium over the years. People have heard about Stocks, Derivatives, Forex, Mutual Funds Trading and Investing but Is there any possibility of Insurance Policies Trading ?
If yes, how can a platform allow such a hectic task with ease because Insurance policies requires proper documentation before transfer. It is way more complex than trading stocks. So, how FidentiaX can do this work with much ease and with the help of a single platform?
Let’s find out:
What Is FidentiaX ?
To begin with, FidentiaX is a Blockchain based platform which allows users to trade insurance policies without the need of any intermediary by leveraging Blockchain Technology.
Blockchain Technology provides a public ledger which records transactions without any hassle and transparency along with high security. FidentiaX have developed a platform or more like an exchange where you can list your Insurance policy, irrespective of its type, and sell your policy instantly to the interested buyers.
How Does It Happen?
Well, FidentiaX follows a definitive pattern for transfer of ownership from seller to buyer using Blockchain Technology. Basically it’s a four step model which are as follows:
- Listing Of Policy by Seller onto the FidentiaX platform so that buyers can have access to it.
- Offering the amount by buyer to the seller as well as the documentation required for policy transfer.
- Submission of documentation by seller to the Insurance policy issuer for the purpose of transferring it to the new buyer.
- Completion of procedure by uploading the new documentation by seller to buyer and receival of funds from seller.
Benefits Of Tradable Policies
Trading of policies on the real time basis has it’s own perks which I am listing below:
Fixed Investment Duration
Insurance Policies are limited to a fixed duration and there’s no value fluctuation at all. So one can trade policies before its maturity to gain some profitability.
Insurance Policies can provide high liquidity in the secondary market. An individual can resell his insurance policies or just surrender them to the policy issuer for high liquidity.
Elimination Of Policy Set-up Cost
Insurance Policy set-up cost are very hectic and for initial 1–2 years it takes majority of cost to become stablize. So purchasing them in the secondary market can be highly beneficial as the majority of costs has already been bear by the original buyer.
Insurance Companies don’t pay all the dividends in one go. They keep it in reserve so that if any bad year happens for the Company’s revenue then they use that reserve for the distribution among the policy holders to maintain their ROI. In this way trading of Insurance Policies can be benificial for short term as well as long term.
FidentiaX ICO Crowd Sale
FidentiaX crowd sale will be open on 6th November 2017 for the general public but there’s also a pre-ICO sale happening on 20th October 2017 which one can participate by singing up their mailing list.
ICO crowd sale will run for 30 days with a maximum supply of 100 Million fdX Tokens
There’s also a discount on tokens as per the ICO phases:
CTC (Day 1~2)
1 ETH = 575 fdX (15% bonus)
1 ETH = 550 fdX (10% bonus)
1 ETH = 500 fdx
Go join their ICO after reading in details about their project. You can gain more information about them in the following links.
Thanks for reading …!!
Telegram Link: https://t.me/fidentiaX
Facebook Link: https://www.facebook.com/fidentiaX
Twitter Link: https://www.twitter.com/fidentiaX
Youtube Channel: https://www.youtube.com/channel/UCWbqz0pTA-UJB0EQK_rn-Pg