INSCoin - Platform Developed by Knox Insurance

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

The INSCOIN project intends to use, among the many available, the Ethereum blockchain, which currently presents the largest number of real used cases and economy of services and transactions currently in operation. Ethereum makes available, using its infrastructure and ERC20 technology, the creation of digital private coins of controlled issuance (token) with which it is possible to support an entrepreneurial project. The sale of tokens allows companies to gather economic resources necessary for the development of a project in which the token itself will play a key role. The token in this sense enables new technological possibilities that o er innovative services.

The goal of KNOX is to reach, by exploiting the blockchain, a decentralization of the whole insurance system. Decentralization means the transformation of traditional insurance policies from paper into smart contracts

• With the smart contract the spread of false insurance policies is avoided because it is the same system that issues them after receiving the payment.
• With the smart contract the company won't have delay in collecting credits, as the policy is issued only after receiving the payment. This factor aims to significantly improve the management of the company itself.
• With the smart contract in the event of accidents the real judge who will decide whether or not to pay them is no longer the company, which could have an opportunistic behavior, but the block-chain system will decide if this accident is compliant with the provisions in the policy. This benefit will be the most important as it will increase the transparency of the company towards customers

Through the payment of the inscoin policy, as shown above, the customer will receive not only the authenticated and standardized policy, but will also receive the code of the policy that will coincide with the address of the smart contract related to the policy. Mainly the latter serves to give an irrefutable proof of the origin of the policy. With the issue of the smart contract the customer and the bene fi ciary can verify that the policy is covered and can check that it was issued by the Company

At the same time as the start of the three insurance companies, once the legal licenses have been obtained, with the help of the funds raised, an internal exchange platform will be created. This platform will have a fundamental role, through it the customer can access the purchase of insurance products offered by our structure.

The main functions of this platform will be: Creation of customized profiles for Brokers, with their personal inscoin wallet.

• Possibility for the Broker to create for all his clients their underlying profiles, combined with his identification code and related wallet inscoin.
• Possibility for each private customer to create their own profile, with relative inscoin wallet. Direct loading of all the policy features for an evaluation and a quote.
• Possibility of paying the policy as described in the previous paragraph. Reception, in case of purchase of the policy, of the address of the smart-contract with which you can verify the authenticity

As you can understand the introduction of the smart contract is an important step towards a fair relationship between the company and the customer. A relationship that favors the maximum transparency and that will allow the same company to have a reputation of behavioral seriousness never seen before, which is very important since in the insurance sector the NAME and the REPUTATION are the main factors.

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.

During the Token Sale (Pre-ICO and ICO) there will be Bonus based on investment amount.

For 10 - 29 ETH will be a +5% Bonus of INSC In addition to the periodical bonus.

For 30 - 49 ETH will be a +10% Bonus of INSC In addition to the periodical bonus.

For > 50 ETH will be a +15% Bonus of INSC In addition to the periodical bonus.

Broker

If you are a Broker contact us (info@inscoin.co), we can provide you special bonuses.

For Information

Website: https://inscoin.co/

Whitepaper: https://inscoin.co/documents/Whitepaper-EN.pdf

Twitter: https://twitter.com/INSCOINforknox

Telegram: https://t.me/inscoinico

Facebook: https://www.facebook.com/Inscoin-for-Knox-1802470656458272

ANN: https://bitcointalk.org/index.php?topic=4422850
Linkedin: https://www.linkedin.com/company/inscoin-holding-ou/

Reddit: https://www.reddit.com/r/InsCoin/

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