InsCoin ICO and Token Sale Review
INSCoin enters the blockchain as the first ever decentralized insurance company. Groundbreaking within the industry, it will be the first insurance company to offer policies in both smart contract and paper form. As a central goal, it is aiming to eradicate fraudulent claims and other difficulties within the industry which result in huge losses.
Project Outline and Objectives
Incidences of fraudulent behavior, including fraudulent claims and false insurance policies within the insurance industry are reaching epidemic proportions. It is estimated that such behavior costs the industry up to $40 billion annually.
The introduction of the blockchain in the whole process offers a number of benefits.
- The entire insurance policy will become completely transparent. This means there will be no falsification of policies as the same system will issue the policy in smart contract form.
- Fraudulent or mistaken claims will be reduced as the decision making process is transferred to the blockchain process which is completely devoid of bias. This will greatly improve system efficiency as well as lowering costs of premiums significantly.
- Payments will collected through the immutable smart contracts. This means instant coverage for the insured and no losses of revenue due to payment delays for the company. The policies will only become active after payments have been collected.
The removal of a variety of expensive third parties and intermediaries will also significantly reduce costs within the process. Ultimately, this will allow the insurer to save money whilst also passing these benefits on to customers in the form of decreasing premiums.
- Start Date2018-07-23
- End Date2018-08-30
- Payment MethodETH
- Total Supply270000000
- SectorBusiness ServicesInvestmentPlatform
Rates & Bonuses
- For 10 - 29 ETH will be a +5% Bonus of INSC In addition to the periodical bonus.
- For 30 - 49 ETH will be a +10% Bonus of INSC In addition to the periodical bonus.
- For > 50 ETH will be a +15% Bonus of INSC In addition to the periodical bonus.