INSCOIN — A Revolution in the world of Insurance.
Insurance is an endless sector along with the banking sector.Today all the circumstances can be subjected to insurance.From the very beginning to up to date severel changes has been occured for the best relationship between the insurance company and the customer.“InsCion for Knox Project” has been born to upgrade this customer relationship effective to the today world with the use of blockchain technology.
The cost of insurance fraud has been increased to approximately 40 billion dollars in United States according to the reports.It’s been found that most of the losses occur from the company side.Operational losses occured from attacks and management of IT security are considered to be responsible for these.Even though the companies are following models to overcome those losses the top level management has oversight the cyber risk management.Another challenge is the international banking transaction speed is not capable enough for the today world requirements.
The KNOX project has focused on finding solutions for the problem of certification and anti-forgery in insurance policies.KNOX has foreseen the use of blockchain technology for a trustworthy and permissed network which will eliminate the validity and certification problems occured during transactions.A certified document in blockchain technology cannot be falsified because of its non-falsifiable application.INSCION project will use the widely available Etherium Blockchain.INSCION will change the traditional insurance policies from paper to smart contracts.And finally decentralizing the whole insurance system in an innovative way to the today world.
With smart contracts the spread of false insurance policies will be avoided and there won’t be any delays in collecting credits as the policy is issued only after receiving tge payment.Most importantly the blockchain will decide whether the accident is complaint with the policy and to be paid or not which is beneficial in transparency between the company and the customer.Because of these qualities in this system the name and reputation of the company will be enhanced.
Customers can pay insurance premiums by InsCoin tokens and can access to the maximum degree of authenticity of the policy.InsCioins’s supply will be 500,000,000.All the unsold tokens will be burned.An internal exchange platform will be created from the funds raised.The customers will be able to access the purchase of insurance products offered by the KNOX structure.
The brokers will be able to create their customised profiles with a personal InsCoin wallet as well as their client profies with an identification code along with a related InsCoin wallet.The private customers will also have the privilege to create thier profiles along with the InsCoin wallet.All the managing functions are done in an innovative way by the internal platform in an efficient manner.
Ultimately the customer will receive an authenticated and standerdized policy by paying the InsCoin policy.Also will receive the code of the policy that will coincide with the address of the smart contract related to the policy.The smart contract is a verification for the customer that the policy is covered and can check that it is issued by the company.
With total supply of 500,000,000 INSC the token sale is divided into two parts as PRE-ICO and ICO.Payments for the token sale at PRE-ICO & ICO will be accepted by etherium where pricing be 5.000 TOKENS per 1 ETH.Bonuses will be given in time basis and the purchase quantity basis.As the KNOX project is requiring new brokers the they will also be entitled for personlized bonuses according to their investment.Funds from the PRE-ICO & ICO will be allocated for product development,insurance company set up,reserve funds and communication & marketing.Project realization and team building was begun in march 2017 with the coordination and effort of a well experienced members in the key fields of accounting,auditing,insurance,marketing,IT,blockchain and cryptocurrency.InsCoin for KNOX project will revolutionize the field of insurance with the adaptation of blockchain technology.
Website; https://inscoin.co/
Whitepaper : https://inscoin.co/#whitepaper
Telegram: https://t.me/inscoinico
LinkedIn: https://www.linkedin.com/company/inscoin-holding-ou/
Twitter: https://twitter.com/inscoinforknox
Facebook: https://www.facebook.com/Inscoin-for-Knox-1802470656458272/
Reddit: https://www.reddit.com/r/InsCoin/
