INSCOIN – FOR KNOX

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INSCOIN

What is InsCoin for Knox?

The KNOX project will be the first insurance company to combine the world of the world with the newcomers to blockchain technology, creating the most efficient and advanced structure in the industry, to find a solution to the problem of certification and insurance policies.

The insurances issued by Knox Insurance will be in traditional paper form and in the form of smart contracts, allowing the customer to follow up on his policy in real time, in full transparency and security. Thanks to the platform developed by knox insurance, the policy will be fully automated and will eliminate any possibility of conflicts of interest between the parties involved.

How can Blockchain change the insurance sector?

for customers

The smart contract prevents the spread of fraudulent insurance policies, because it is the same system that will issue after receiving the payment.

The customer has full control over the insurance policy.

The customer can access all services of the company through the WEB and mobile platform and verify his policy.

for insurance companies j

With the smart contract, there will be no delays in collecting premiums, this will be achieved by improving the company's cash flow.

Thanks to the Blockchain, a fraudulent policy can never be passed on to the company.

Blockchain improves operational processes and ensures a totally unassailable security system.

for brokers

Earning credibility for policyholders and beneficiaries.

Immediate control of his admin report.

Immediate assignment of commissions.

HOW DO IT WORK ON BLOCKCHAIN?

The certification of the authenticity of the policy will be partly carried out on the internal platform of Knox Insurance and partly on the Blockchain of Ethereum. At the end of the certification process you will receive a contract that combines the privacy rights of the contract parties.

Deflation plan and token economy

15% of the offer (Broker WhoSaler reservers) will be temporarily blocked at the end of the ICO by a smart contract for 1 year. Based on this basis, we have provided a further controlled reduction in working capital based on the sale of insurance policies. The premium collection in inscoin is articulated as follows:

For premiums <$ 1'000'000, 1% must be paid in INSC.

For premiums <$ 100'000, 3% must be paid in INSC.

For premiums <$ 50'000, 5% is paid in INSC.

For premiums <$ 10'000, 10% must be paid in INSC.

For premiums <$ 500, 20% must be paid in INSC.

The inscoin collected per single policy, once it has been received by the company, is blocked for a year by a smart contract. They will then be released at a quarterly rate of 25% of the total number of employees and a healthy symbolic economy.