Insure Network is a decentralized digital insurance platform powered by blockchain technology.
Insure Network aims to make a difference in the traditional insurance companies' monopolistic marketplace designs, through blockchain technology.
Easier claims process
Policy holders will be able to pay bills or 3rd parties directly with Insure Network insurance cards. Fraudulent claims will be tracked with inspection of transaction records on public blockchain and will be punished according to local regulation.
Risk pools are crowdfunded by stablecoin
In the insurance industry, traditionally, only incumbents with abundant collaterals could readily design an insurance product for customers. However, the adoption of blockchain technology has opened a new era of the insurance marketplace where the products, that require such huge collaterals, can be crowdfunded from millions and billions of people around the globe with transaction data recorded immutably in the blockchain.
An application of the smart contract and the artificial intelligence
By taking out the unnecessary intermediaries, Insure Network significantly maximizes the profit and moreover, talented actuaries will be able to design fascinating products with an attractive price range and variety of options. A majority of the net profit from the insurance product will transparently be given to shareholders of collateral. A minority of it will be shared to insurance product designers, Insure Network Foundation, and Insure Network Token holders. This way, Insure Network will create a marketplace that incentivizes all four groups of players on the platform. The platform itself, investors, product designers, and consumers.
- Insure Network web site