INSCOIN “The First Blockchain based insurance Company”

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Insurance is one of the ways that businesses and individuals reduce the financial impact of a risk occurring – by paying a premium to an insurance company, the risk is in effect transferred from the client to the insurer, meaning the client can focus on their business or life. The UK insurance market is the third largest in the world.

Without insurance there would be no risk taking. And without any risk taking, there would be no businesses and no innovation. Insurance is what enables the modern world to get on with life. and this is where the KNOX project steps in.

WHAT INSCOIN IS ALL ABOUT

KNOX Project will be the first insurance company to combine the real world with digital technology with Blockchain, create the most efficient and sophisticated structure in the industry, to find solutions for certification and falsifying insurance policies.Smart contracts avoid spreading fake insurance policies because it is the same system that issues them upon receipt of payment. With smart contracts, the company is not delayed in collecting credits because the policy is only issued after the payment is received. This factor is intended to significantly improve the management of the company itself.

Reasons why you should consider investing in the InsCoin project :

1. Customized.Blockchain fits perfectly with the world of insurance.

Blockchain in public implementation solves a fundamental problem in creating fewer trusts and networks without permission, in which the participants of the transaction can be considered legitimate, and therefore the potential of related certification, with the permission mechanism generated by the incentive system and the negative incentives between the parties involved.Certification of non-certified documents is one of the most important applications of Blockchain Technology, since documents certified in Blockchain are NEVER falsified.Smart contracts avoid spreading fake insurance policies because it is the same system that issues them upon receipt of payment. With smart contracts, the company is not delayed in collecting credits because the policy is only issued after the payment is received. This factor is intended to significantly improve the management of the company itself.With smart contracts for accidents, the actual judge who decides whether or not to pay is no longer a company that can have opportunistic behavior, but the Blockchain system will decide whether the accident meets the policy requirements.This benefit will be the most important because it increases the company's transparency to customers.

2. A smarter way to change the insurance sector.

Many crypto-projects have tried to disrupt the insurance industry, from a decentralized perspective that will not be able to operate in the real world without relying on real companies.In inscoin for knox we want to do something different, we are big fans of decentralized platforms, in fact we will depend on the Ethereum network for the deployment of our smart contract but behind our symbolic insocsa will be formed from 1 to 3 companies based on the number of ETH collected, remember that companies in the real world need a security fund of several million dollars to be legally regulated, with offices in the Bermuda Islands, Dubai and Portugal.We have studied this phase in detail thanks to our previous experience in the insurance industry and we have developed a certified business plan, which you can learn at the following links.

3. KNOX PLATFORM.