Another Partnership Established: INGOT Coin & Black.Insure
Black will be a licensed insurance company that provides insurance capacity to Agents, Brokers and MGAs enabling them to launch their own virtual insurance companies. Their capacity comes without the traditional overheads of insurance company while using Blockchain as main platform to get rid of centralized insurance companies.
Black connects the idea to the capital directly, replacing the parties that are not needed in the value chain with technology. Black will do this through crowdfunding, also giving smaller investors a way in. This leaner model gives more responsibilities to insurance brokers and control over the products they are selling. Insurers as we know them today are simply a trusted third party — Blockchain gives us an alternative to that and the need for insurers disappears.
Black is bringing on board a new meaning to insurance as well as removing intermediaries that charge extra costs and waste longer time. By connecting brokers to capital on the Black platform they can set up their own virtual insurance company within months. Insurance should function in the opposite way that it is currently, giving more power to brokers and removing slow and expensive insurers from the value chain. This helps great ideas get to the market faster, reduce costs and help innovation especially in terms of Blockchain.
INGOT Coin & Black.Insurance are now viewing the different scopes in which both Utilities can be used and accessed together. There are many different Integration methods both ICOs can work on, especially one that can allow access to both tokens from the same platform.