INSCOIN (What is InsCoin for Knox)

What is InsCoin for Knox

The KNOX project will be the first insurance company that merges the real world with the digital one using Blockchain technology, creating the most efficient and advanced structure in the sector, to find a solution to the problem of certification and anti-forgery of insurance policies.

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The insurance policies issued by Knox Insurance will be both in traditional paper form and in the form of smart contracts, allowing the customer to monitor their policies in real time, in full transparency and safety. Thanks to the platform developed by knox insurance, the policies will evolve to become fully automated and eliminate any possibility of conflict of interest between the parties involved.

Insurance companies will be established in Lisbon, Dubai and the Bermuda Islands, to allow Knox insurance to operate in different legislations and allow a token economy on a global scale.

Why can the Blockchain change the Insurance Industry

● For Costumers
- The smart contract prevent the diffusion of fraudulent insurance policies because it is the same system that will issue them after receiving payment.
- The customer has total control of the insurance police written in the Blockchain, checkable by anyone at any time.
- The customer, through the WEB and Mobile platform, can acces all the company's services and verify his policies

● For insurance company
- With the smart contract, there will be no delays in collecting premiums, this will significantly improve the company's cash flow.
- Thanks to the Blockchain, a fraudulent policy can never be charged to the Company.
- Blockchain improves operational processes and ensures a totally unassailable security system.

● For Bokers
- Earning credibility in front of policy holders and beneficiaries
- Instant check of his admin report
- Immediate allocation of commissions.

HOW IT WORKS ON

BLOCKCHAIN

The certification of the authenticity of the policies will be carried out partly on the internal platform of Knox Insurance and partly on the Blockchain of Ethereum. At the end of the certification process, will be issued a smart contract  that combines the authenticity and coverage of the policy while respecting the privacy rights of the contracting parties.

Deflation Plan and Token Economy

15% of the supply (Broker WhoSaler reservers) will, at the end of the ICO, be temporarily blocked by a smart contract for 1 year. Starting from this basis we have foreseen a further controlled reduction of the working capital based on the sale of insurance policies.The collection of premiums in inscoin is articulated like this:

● 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% be 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, as soon as received by the company, will be blocked by a smart contract for a period of one year. After this, they will subsequently be released at a quarterly rate of 25% of the total received and used to support the increase in turnover of the three companies and ensure a healthy token economy.

Token Sale

Detail

Ticker: INSC

Type: ERC20

Supply: 500'000'000 INSC

Price: 1 ETH= 5'000 INSC

● Pre-Sale 1st Phase

June 23 - 30

Cap: 1'000 ETH

Bonus 30%

● Pre-Sale 2nd Phase

July 01 - 07

Cap: 1'500 ETH

Bonus: 27.5%

● Pre-Sale 3rd Phase

July 08 - 15

Cap: 5000 ETH

Bonus: 25%

● Token Sale

July 23 - August 30

Cap: 31'944 ETH

Bonus from 20% to 0%

Bonus

● Additional Bonus based on investment

● Broker

Tokens Alocation

● 54% - Token Sale

● 15% Broker

WholeSaler

● 10% - Team & Advisors

● 10% - Broker Network partnership

● 9% - Reserve for the 3 companies

● 2% - Aidrop & Bounty program

Use of funds

● 60% - Insurance Companies Set-up

● 20% - Platform Development

● 10% - Marketing

● 10% - Reserve Fund

Roadmap

We have already made significant investments and closed important collaborations with market players in the Pre-ICO phase.  Our in-depth knowledge of the insurance world has enabled us to draw up this roadmap as accurately as possible.

● March 2017
- Study project realization
Team Building establishment of the first collaboeative network

● May 2017
- Forecast Business plan
Legal consulting €150.000

● Jully 2017
- IT isurance licensed platform
Invested €300.000 for certified insurance flatform

● October 2017
- Insurance partnership
Partnership with more than 300 insurance brokers ready to work with the companies

● June - August 2018
- Token Sale
Start of the Token Sale

● September 2018
- Trade inscoin on the main exchanges
InsCoin will be listed on main exchanges to guarantee easy implementation to future customers of the companies and proper volumes compared to our income.

● Q3 2018
- Compliance to obtain insurance license
We will obtain autherizations fromofficial authorities of the theree nations to provide legal insurance service.

● Q4 2018
- Introduction of internal platform
With it the customer will be able to access its policy via smart contract.

● Q4 2018
- Smart contract in the insurance busines
The smart contract will be more protagonist of the insurance industry.

For more information please visit:
(ANNTHREAD)(WEBSITE)(TELEGRAM)(STEEMIT)(FACEBOOK)(TWITTER)(LINKEDIN)

Author: Xarius
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