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.
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.
The smart contract prevents 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 policy written on the Blockchain, checkable by anyone at any time.
The customer, through the WEB and Mobile platform, can access all the company's services and verify his policies.
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.
Earning credibility in front of policy holders and beneficiaries.
Instant check of his admin report.
Immediate allocation of commissions.
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.
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.
Supply: 500'000'000 INSC
Price: 1 ETH=5'000 INSC
June 23 - 30
Cap: 1'000 ETH
Cap: 1'500 ETH
Cap: 5000 ETH
Cap: 31'944 ETH
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.
If you are a Broker contact us ([email protected]), we can provide you special bonuses.
54% - Token Sale
15% - Broker WholeSaler
10% - Team & Advisors
10% - Broker Network partnership
9% - Reserve for the 3 companies
2% - Airdrop & Bounty program
60% - Insurance Companies Set-up
20% - Platform Development
10% - Marketing
10% - Reserve funds
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.
Study project realization
Team Building Establishment of the first collaborative network
Forecast Business plan
IT insurance licensed platform
Invested €300.000 for certified insurance platform
Partnership with more than 300 insurance brokers ready to work with the companies
Start of the Token Sale
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.
Compliance to obtain insurance license
We will obtain authorizations from official authorities of the three nations to provide legal insurance service.
Introduction of internal platform
With it the customer will be able to access its policy via smart contract.
Smart contract in the insurance business
The smart contract will be more and more protagonist of the insurance industry
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. 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 blockchain system that, in a totally disinterested by the human opinion, 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.