An alternative breakthrough in the large insurance market, data show that the Insurance Insurance market contributes 5.7 of the total output of the economy or about $ 3,9 trillion in 2015. The Association of British Insurers estimates the total assets managed by the insurance company about $ 2,032 trillion, in the UK more than 300 thousand people work there this sector.
London as the center of money circulation in the European business of insurance has a long history of all types of insurance, insurance traded in the traditional way and sometimes even manually with many intermediaries. With Reasons for Efficiency, most Insurance-related institutions are interested in Blockchain Technology and hope to be modern and more than just an alternative
Problems, Most Insurance Products are traded through 3rd parties such as brokers and other Intermediaries. This can add to the cost and complexity of other transactions.
Opportunities, InsureX offers a new breakthrough that will be very beneficial in the insurance sector that is very far behind from this technology. Participants can transact business quickly and efficiently and easily access the valuable data and market insights.
The InsureX Platform
The greatest breakthrough revolution in the history of insurance is imminent, with all institutions in the insurance sector such as Insurers, Reinsurers and brokers get together directly and create cost-effective and cost-effective and transparent markets
Our use of blockchain technology streamlines the downstream processes for programs, policies, premiums, and claims.
Buy and Sell Insurance
Companies who have insurance products they wish to sell would list them on the market. Companies who wish to buy insurance would use the search or get notified of the listing.
In order to organize your transactions, they can be structured as portfolios. High-level, aggregated information for the transactions is available.
When the parties have agreed to the terms, a transaction is added to the distributed ledger. Our blockchain solution ensures that everyone can see the same transaction details and documents.
Because of the shared nature of blockchain, there is no need for a third party to verify and confirm the transaction. Participants in the transaction who have the right permissions will be able to see the same information in real-time.
In order to see what is on offer, and gain an understanding of the market, a rich and powerful dashboard gives you a real-time view.
InsureX is able to provide a detailed overview of market activity across regions, market sectors, exposures etc. The ability to aggregate statistics gives an unparalleled view of the insurance market.
The InsureX architecture is a cutting edge stack consisting of React, NodeJS, Ethereum Blockchain and OrientDB.
Our marketplace leverages blockchain technology which offers all participants consistent, shared and secure processes. The nature of the decentralized blockchain allows a completely trustless interaction between parties which removes third party costs and commissions. Our platform leverages the Ethereum blockchain which makes it easier for external developers wishing to contribute without having to familiarize themselves with yet another blockchain implementation.
In order to process certain transactions, private and confidential information is required to be stored and exchanged. Our storage is a secured NoSQL data fabric. It compliments the blockchain network by providing fast access to different data such as medical records or other confidential information.
Multiple levels of security, external authentication, and strong usage profiling are included.
The UI is implemented using React which is fast and responsive. We use a Node.js backend which handles most of the business logic. The React and Node.js combination has proven to be a very fast, lightweight and robust approach. The UI renders on tablets and phones and as part of our roadmap, we’re developing a mobile app, in order to take advantage of the native phone and tablet capabilities.
Detail Information: The White Paper or http://www.insurex.co/wp-content/uploads/2017/05/insurex_whitepaper.pdf
InsureX Tokens IXT are used to pay for services and data on the platform. We will issue IXT during our crowdsale. The sale will last three weeks from the 11th of July to the 31th of July.
The InsureX Token IXT
IXT powers the InsureX ecosystem and can be used for:
• Transaction fees
• Access to data
• Annual subscriptions
• API licences
• Custom integration and support
• Starts: 11th July
• Ends: 31th July
• Price: 1 ETH – 1,125 IXT
• Crowdsale pool: 100,000,000 IXT
• Reserve: 30,000,000 IXT
• Minimum goal: 2,222 ETH
• Maximum goal: 88,888 ETH
IXT Reward Pool IRP
A portion of the IXT paid on the platform will be transferred to the IRP. As a holder of IXT, you have a share in IRP proportionate to the number of tokens you own. The IRP will increase in value as the platform grows.
A bonus of 36% is given to the first buyers which diminishes down to 0% for the last tier.
Note: We reserve the right to change the number of tokens in the tiers to make sure we allow a fair distribution amongst investors.