As we are one step closer to the MVP launch in autumn, we have decided to expand our team and recruit like-minded, seasoned professionals who are passionate about bringing this project to life and move towards a common goal. On whom we can depend, and who can adapt.
this is very positive
Topic: [ANN] [IPL] InsurePal | Distributed social proof insurance - page 7. (Read 12685 times)
how many insurance companies are in the running for the pilot at the moment? Have the numbers changed from the previous update?
Nice to read progress&update on Insurepal team
https://medium.com/insurepal-blog/meet-the-insurepal-team-1927257e783d
https://medium.com/insurepal-blog/meet-the-insurepal-team-1927257e783d
this news are very positive
regarding chat on telegram yesterday there is a big chance of new big investors will enter Insurepal
Volume (24h)
$431.401 USD
55,94 BTC
710,09 ETH
regarding chat on telegram yesterday there is a big chance of new big investors will enter Insurepal
Volume (24h)
$431.401 USD
55,94 BTC
710,09 ETH
Some movements is good - i hear that Insurepal hired new marketing agency is that true?
true
it's https://agencijaepic.si/
Social proof insurance on the blockchain: interview with Matt Peterman, co-founder of InsurePal
What happens if you draw a venn diagram intersecting the new, rapidly innovating world of blockchain, with the time-honoured, stable, even “boring” world of insurance? This is what we set out to discover in this exclusive interview with Matt Peterman, co-founder of InsurePal, a new business that has recently closed an $18m ICO on the promise of developing peer-to-peer insurance based on social proof endorsements.
Thanks for speaking with us Matt – could you tell us the story of how InsurePal got started?
[Matt Peterman:] Thank you for taking the time to interview me. The insurance industry is all about dealing with trust and risk, and we actually think people are pretty good at this between themselves… it just gets less accurate and more difficult when you do it at scale without a human face. So in 2015 we identified the science of social proof as a possible solution and invested close to $500,000 to develop our model and web app demo, filing a patent in the US and worldwide.
Calibrated mathematical algorithms confirmed that our model brings from 30% up to 70% cost reduction. We pitched the idea in Silicon Valley but ended up refusing an offer of several million dollars in order to be able to develop InsurePal on our own terms.
After conducting our methodology and viability assessment, and a legal review of the project, we identified the missing piece: blockchain. Our core team are mostly people with a background in the financial and insurance industry – we have a really strong insurance knowledge base – and we held several meetings with cryptocurrency think-tanks. We are working on making the InsurePal platform the global “go-to” solution for social proof insurance, leveraging blockchain technology.
You mentioned you’ve patented your solution for “social proof for the insurance industry” – can you summarize the technology involved?
The InsurePal platform improves risk selection, segmentation, and trust. For the end user, the InsurePal decentralized app will serve as an entry point to our insurance ecosystem, and we set up white label partnerships so businesses can sell social proof insurance. We feel that the social proof idea will reshape insurance back to its roots.
Decentralization is a key change we see coming to many technologies, and it’s great for insurance. Blockchain technology has three different but complementary definitions:
Technically, the blockchain is a back-end database that maintains a distributed ledger that can be inspected openly;
Business-wise, the blockchain is an exchange network that operates 24/7 and allows you to move value peer-to-peer without the assistance of intermediaries;
Legally speaking, the blockchain can be seen as a validation mechanism for transactions, replacing middlemen.
Having that in mind, blockchain technology can add significant value. Here are a few areas we can improve:
insurance conditions and automated claims processing through smart contracts;
a reliable and transparent payment mechanism for the client;
identity check (KYC/AML) and better fraud control;
bringing to market innovative insurance product offerings.
Regarding new insurance products, we’ve seen a lot of ideas realized recently: property CAT XL (a type of excess of loss reinsurance), flight delay insurance, crop insurance, drone insurance, smart car and smart home insurance, and battery insurance. Social-proof based insurance is another of these rapidly emerging areas of innovation.
What does this all mean for consumers?
Well, we can say that insurance is boring. How many times a year do you interact with insurance company? As seldom as possible, right?
We want to change that and build a community that has common goals regarding lifestyle, for example diligent drivers who want to be rewarded for their habits. Social proof is a natural, in-built mechanism within all of us, where we reference the behaviour of others to guide our own actions.
InsurePal translates social proof into a form of financial commitment. An endorser financially guarantees someone, and to do this they use their own due diligence since the risk is losing their money. Through many such endorsements and guarantees, the network as a whole whole becomes more risk aware, and will actually encourage a change in people’s behaviour.
We anticipate that the InsurePal platform will serve as a replacement for many types of insurance as we know today, and offer completely new types of coverage for areas of life and business that are emerging rapidly in a digital world.
The magazine Insurance CIO Outlook has ranked InsurePal in the top 10 blockchain solution providers in 2018
What does your roadmap look like?
We launched the InsurePal token (IPL) crowd sale on 16th January 2018, and closed it successfully in the first 80 seconds!
Before and since that public sale, we’ve been hard at work in both R&D and marketing. We have a pilot project in the UK which also involves some global services and at the end of the summer social proof modules will be ready for testing with our community. While we are setting up token economics a lot of blockchain knowledge will need to be integrated in our solution.
On the other side, extensive legal and regulatory preparations are ongoing, with our goal to obtain an EU passport license and join the FCA global sandbox. Beyond this, we will be seeking partnerships with interested third parties, and from a PR point of view all InsurePal activities will be promoted on a global scale.
Our roadmap can be found on our website at: https://insurepal.io/roadmap
InsurePal have set up offices in London with an eye on the excellent global fintech and insuretech ecosystem here
With the experience you’ve gained so far in the brand new world of blockchain technology, what’s your outlook and advice for fellow entrepreneurs?
One thing is certain: in the blockchain business, there is always something new happening! Basically it’s going to affect everything: if you run through predictions for how things work in the year 2025, you’re going to have cryptocurrency banks and crypto-insurance companies, DAO will be a generally accepted company structure, we will use digital wallets, business logic and contracts will be recorded on blockchains, digital securitization of goods will become the norm (gold, diamonds, physical property)…
Would you like more? Medical documentation will be available on blockchains, laws and restrictions will be directly checked on the blockchain, taxes will be calculated and paid on the blockchain, stock exchanges will use blockchains to validate transactions and traders will use them as a means of payment, the decentralized protocol will become commonplace, special blockchain browsers will be developed, the language of smart contracts will prosper, open source protocols will gain, university programs of cryptography and game theory will prosper, decentralized cloud computing will gain…
So what can we sum up? One needs to stay flexible for 100% change from the position which is known today.
Doing business in an environment like this takes even more effort than the usual entrepreneurial life. My advice: be flexible and run towards your goals or others will get there first!
What happens if you draw a venn diagram intersecting the new, rapidly innovating world of blockchain, with the time-honoured, stable, even “boring” world of insurance? This is what we set out to discover in this exclusive interview with Matt Peterman, co-founder of InsurePal, a new business that has recently closed an $18m ICO on the promise of developing peer-to-peer insurance based on social proof endorsements.
Thanks for speaking with us Matt – could you tell us the story of how InsurePal got started?
[Matt Peterman:] Thank you for taking the time to interview me. The insurance industry is all about dealing with trust and risk, and we actually think people are pretty good at this between themselves… it just gets less accurate and more difficult when you do it at scale without a human face. So in 2015 we identified the science of social proof as a possible solution and invested close to $500,000 to develop our model and web app demo, filing a patent in the US and worldwide.
Calibrated mathematical algorithms confirmed that our model brings from 30% up to 70% cost reduction. We pitched the idea in Silicon Valley but ended up refusing an offer of several million dollars in order to be able to develop InsurePal on our own terms.
After conducting our methodology and viability assessment, and a legal review of the project, we identified the missing piece: blockchain. Our core team are mostly people with a background in the financial and insurance industry – we have a really strong insurance knowledge base – and we held several meetings with cryptocurrency think-tanks. We are working on making the InsurePal platform the global “go-to” solution for social proof insurance, leveraging blockchain technology.
You mentioned you’ve patented your solution for “social proof for the insurance industry” – can you summarize the technology involved?
The InsurePal platform improves risk selection, segmentation, and trust. For the end user, the InsurePal decentralized app will serve as an entry point to our insurance ecosystem, and we set up white label partnerships so businesses can sell social proof insurance. We feel that the social proof idea will reshape insurance back to its roots.
Decentralization is a key change we see coming to many technologies, and it’s great for insurance. Blockchain technology has three different but complementary definitions:
Technically, the blockchain is a back-end database that maintains a distributed ledger that can be inspected openly;
Business-wise, the blockchain is an exchange network that operates 24/7 and allows you to move value peer-to-peer without the assistance of intermediaries;
Legally speaking, the blockchain can be seen as a validation mechanism for transactions, replacing middlemen.
Having that in mind, blockchain technology can add significant value. Here are a few areas we can improve:
insurance conditions and automated claims processing through smart contracts;
a reliable and transparent payment mechanism for the client;
identity check (KYC/AML) and better fraud control;
bringing to market innovative insurance product offerings.
Regarding new insurance products, we’ve seen a lot of ideas realized recently: property CAT XL (a type of excess of loss reinsurance), flight delay insurance, crop insurance, drone insurance, smart car and smart home insurance, and battery insurance. Social-proof based insurance is another of these rapidly emerging areas of innovation.
What does this all mean for consumers?
Well, we can say that insurance is boring. How many times a year do you interact with insurance company? As seldom as possible, right?
We want to change that and build a community that has common goals regarding lifestyle, for example diligent drivers who want to be rewarded for their habits. Social proof is a natural, in-built mechanism within all of us, where we reference the behaviour of others to guide our own actions.
InsurePal translates social proof into a form of financial commitment. An endorser financially guarantees someone, and to do this they use their own due diligence since the risk is losing their money. Through many such endorsements and guarantees, the network as a whole whole becomes more risk aware, and will actually encourage a change in people’s behaviour.
We anticipate that the InsurePal platform will serve as a replacement for many types of insurance as we know today, and offer completely new types of coverage for areas of life and business that are emerging rapidly in a digital world.
The magazine Insurance CIO Outlook has ranked InsurePal in the top 10 blockchain solution providers in 2018
What does your roadmap look like?
We launched the InsurePal token (IPL) crowd sale on 16th January 2018, and closed it successfully in the first 80 seconds!
Before and since that public sale, we’ve been hard at work in both R&D and marketing. We have a pilot project in the UK which also involves some global services and at the end of the summer social proof modules will be ready for testing with our community. While we are setting up token economics a lot of blockchain knowledge will need to be integrated in our solution.
On the other side, extensive legal and regulatory preparations are ongoing, with our goal to obtain an EU passport license and join the FCA global sandbox. Beyond this, we will be seeking partnerships with interested third parties, and from a PR point of view all InsurePal activities will be promoted on a global scale.
Our roadmap can be found on our website at: https://insurepal.io/roadmap
InsurePal have set up offices in London with an eye on the excellent global fintech and insuretech ecosystem here
With the experience you’ve gained so far in the brand new world of blockchain technology, what’s your outlook and advice for fellow entrepreneurs?
One thing is certain: in the blockchain business, there is always something new happening! Basically it’s going to affect everything: if you run through predictions for how things work in the year 2025, you’re going to have cryptocurrency banks and crypto-insurance companies, DAO will be a generally accepted company structure, we will use digital wallets, business logic and contracts will be recorded on blockchains, digital securitization of goods will become the norm (gold, diamonds, physical property)…
Would you like more? Medical documentation will be available on blockchains, laws and restrictions will be directly checked on the blockchain, taxes will be calculated and paid on the blockchain, stock exchanges will use blockchains to validate transactions and traders will use them as a means of payment, the decentralized protocol will become commonplace, special blockchain browsers will be developed, the language of smart contracts will prosper, open source protocols will gain, university programs of cryptography and game theory will prosper, decentralized cloud computing will gain…
So what can we sum up? One needs to stay flexible for 100% change from the position which is known today.
Doing business in an environment like this takes even more effort than the usual entrepreneurial life. My advice: be flexible and run towards your goals or others will get there first!
Some movements is good - i hear that Insurepal hired new marketing agency is that true?
Ok this is getting alittle ridicilious... they are showing charts of how many people see IPL on sites and other media and yet only 2500 adresses own IPL. They have to start paying attention on token as well... the price is horrible... absolutely horrible..
I understand we are in bare market and its hard, but this is droping to faar... IPL pay attention to token as well...
I understand we are in bare market and its hard, but this is droping to faar... IPL pay attention to token as well...
Yeah, I wanted to buy IPL months ago when it fell against the ETH and BTC.
Thankfully i hadn't, because it is still falling.
Now I just hope I won't miss the moment when IPL starts growing because some big whales invested huge amounts of money
InsurePal (IPL) starts trading today on Idex exchange !!!
https://twitter.com/Aurora_dao/status/998578578454384640
https://idex.market/eth/ipl
Congratulation !
Wish you very happy trading !
https://twitter.com/Aurora_dao/status/998578578454384640
https://idex.market/eth/ipl
Congratulation !
Wish you very happy trading !
Interesting news another exchange added into the list they are working pretty good. In future it will get support from Okex or Binance than it will be great achievement for this project.
Another day another currency,whats next?
InsurePal (IPL) starts trading today on Idex exchange !!!
https://twitter.com/Aurora_dao/status/998578578454384640
https://idex.market/eth/ipl
Congratulation !
Wish you very happy trading !
https://twitter.com/Aurora_dao/status/998578578454384640
https://idex.market/eth/ipl
Congratulation !
Wish you very happy trading !
InsurePal ensures compliance with all the regulatory requirements of the insurance industry, which is reassuring and hopes that InsurePal will be the benchmark for the insurance industry and promote its healthy development.
Very kewl answers on Telegram
Join guys there is so much communication it's cool
Ales, [20.05.18 10:17]
Question 1: Can you please confirm what your broad rating methodology will be for assessing premium costs of prospective insureds. You say in your whitepaper "To receive the InsurePal insurance, clients will be asked to take and upload a photo of
their existing insurance policy. The InsurePal will then calculate and offer each client
a discount, proportionate to the size of their endorsers` guarantee. This way, every
client will receive a specific number of tokens, representing the exact amount of their
estimated discount according to a current market value. In the first phase, the client will
also be able to opt out for the cash discount in the form of lower premium price. In this
case, the cash discount will account for approximately 20% less than the value of the
estimated token discount. "
Answer 1: starting point of underwriting process for any new risk would be entering the basic data needed to calculate premium or just uploading existing insurance policy. In both cases data would be copied to the system, which will calculate InsurePal’s offer. This will be the entry point to the endorsement process. InsurePal’s offer will be bases on the maximum level of endorsements, which the user can obtain. On the other side endorsers will get rewards in tokens in the value of certain % the amount which will they endorse. Getting cash instead of tokens will also be on option, but while we will prefer tokens to build token economy, the amount of cash will be reduced.
Ales, [20.05.18 10:17]
Question 2: One selling point of your product is that you say it will reduce the impact of fraudulent claims.
A search of Google suggests that the average cost of a fraudulent UK motor claim is £12k (ABI data)
If a typical car insurance premium costs somewhere in the region of £500-£1k, and a social proof guarantor agrees to place themselves on liability for a proportion of this premium, there is still another £11k+ of each average fraud claim unaccounted for.
The vast majority, more than 90%.
(Furthermore - albeit a less significant point - fraudulent operators can simply collude and obtain an upfront discount on their policy AND a bonus of IPL tokens to sell too. This gives them additional upfront financing for their fraud exercise!).
Why would you expect this system to make a significant impact on reduction of motor fraud?
Answer 2: this was explained by Matt. Just to summarize: basic idea is to reduce fraud. Insurance companies are mainly competing on premium side, but do almost nothing on claim side. So reducing the fraud would have significant effect which could in the end also lead to the premium reduction. Nowadays everyone is paying for big discount given to known people, fraudulent claims, for people who are not paying at all and many more examples… Our opinion is, that this can be reduced by using the social proof concept.
Ales, [20.05.18 10:18]
Question 3:
Can you please confirm what happens when someone makes an at-fault claim?
For example:
- Are they thereafter excluded from potential future insurance with InsurePal?
- Is their score and the score of their endorsers negatively affected?
- Does it matter what type of claim has occurred?
Answer 3: Firstly: claims are happening and will happen in the future. Social proof will not eliminate them. So in the case of claim endorsers will be asked to cover they part if needed of course – depends on the claim value. Users will not be excluded from future usage of InsurePal’s platform. Depending of the type of claim there will be some effect on score card of all stakeholders.
Ales, [20.05.18 10:18]
Question 4: Can you please confirm precisely what your approved patent covers. For example - does your patent prevent any competitor from using the entire system of social proof deductibles in insurance? Or is it more specific to your implementation with InsurePal software/ IPL tokens / etc.
It is not obvious to me why a competitor cannot simply implement the social proof deductible idea in car insurance but without the complication of use of the blockchain / IPL tokens. Less barriers to entry, less requirements for shifts in existing systems, easy to sell to consumers.
Does your patent really blanket guard against all other usage of this concept in insurance?
You're of course welcome to point me towards the patent text if it's a question I can answer myself by reading! But your interpretation would be appreciated, especially if it's a complex legal document
Answer 4: The patent was filed-in. Generally is a broad definition of insurance process (method/computer system) for risk segmentation where mutual recommendations can be taken into account (financial guarantee).
Ales, [20.05.18 10:18]
Question 5: UK insurance regulation is tough and increasingly complex. In the context of your UK motor pilot - Is this something you are specifically addressing in your development? Can you please give a brief summary of how?
Answer 5: Basically speaking (does not link to UK or motor insurance) we are targeting groups of risks for which we believe that are bottleneck for insurance companies. Normally these groups have higher premium than average ones. With social proof help, for these groups of risks we can extract the good ones, which can then as a consequence be offered better pricing on one side and better risk segmentation for insurance company’s side.
Ales, [20.05.18 10:19]
Question 6: Will the UK pilot be an exclusive arrangement with one selected UK insurer?
If yes - then in future implementation after the pilot phase, would the implementation remain exclusive with one partner or do you envisage it being a service that can partner with multiple supporting insurers?
Answer 6: While there is crowdie at the door, our intention at the start is to work with one insurance company per market and per line of business. In the future we will open platform to become real marketplace.
Ales, [20.05.18 10:19]
Question 7: Can you please confirm the exact relationship between insured, yourselves and the underwriting insurer? For example, is the following correct:-
'- InsurePal fronts all elements of the policy sale to the insured, perform all interaction with the prospective policyholder.
- InsurePal derives the premium rate based on THEIR risk models and the contract is signed via the InsurePal app
- InsurePal perform the risk selection. They decide who to accept and reject (?)
- BUT the policy is underwritten by a partner UK insurer.
- Claims are filed by policyholders in the InsurePal app, but the the partner insurer is responsible for claims management
I'm sure there are elements that I have misunderstood or guessed here and so please correct my understanding as it is not clear to me exactly how the arrangement would work.
Answer 7: InsurePal is the platform for endorsement process. It will be, so to say, incorporated in the insurance underwriting process. There are many ways how to do that, so final form will be discussed with every insurance company separately. One way for example is that in the middle of underwriting process on some insurance company’s web page or portal you are offered the link to InsurePal’s platform to get better premium offer. In behind of course is our risk model. Insurance policy in this case will be underwritten under insurance company (also other options exists). Claims could be filed either through our platform or directly to insurance company, which is then responsible for whole claim process.
I hope that these answers give you better insight what will be going on. Thank you and we are in touch.
Join guys there is so much communication it's cool
Ales, [20.05.18 10:17]
Question 1: Can you please confirm what your broad rating methodology will be for assessing premium costs of prospective insureds. You say in your whitepaper "To receive the InsurePal insurance, clients will be asked to take and upload a photo of
their existing insurance policy. The InsurePal will then calculate and offer each client
a discount, proportionate to the size of their endorsers` guarantee. This way, every
client will receive a specific number of tokens, representing the exact amount of their
estimated discount according to a current market value. In the first phase, the client will
also be able to opt out for the cash discount in the form of lower premium price. In this
case, the cash discount will account for approximately 20% less than the value of the
estimated token discount. "
Answer 1: starting point of underwriting process for any new risk would be entering the basic data needed to calculate premium or just uploading existing insurance policy. In both cases data would be copied to the system, which will calculate InsurePal’s offer. This will be the entry point to the endorsement process. InsurePal’s offer will be bases on the maximum level of endorsements, which the user can obtain. On the other side endorsers will get rewards in tokens in the value of certain % the amount which will they endorse. Getting cash instead of tokens will also be on option, but while we will prefer tokens to build token economy, the amount of cash will be reduced.
Ales, [20.05.18 10:17]
Question 2: One selling point of your product is that you say it will reduce the impact of fraudulent claims.
A search of Google suggests that the average cost of a fraudulent UK motor claim is £12k (ABI data)
If a typical car insurance premium costs somewhere in the region of £500-£1k, and a social proof guarantor agrees to place themselves on liability for a proportion of this premium, there is still another £11k+ of each average fraud claim unaccounted for.
The vast majority, more than 90%.
(Furthermore - albeit a less significant point - fraudulent operators can simply collude and obtain an upfront discount on their policy AND a bonus of IPL tokens to sell too. This gives them additional upfront financing for their fraud exercise!).
Why would you expect this system to make a significant impact on reduction of motor fraud?
Answer 2: this was explained by Matt. Just to summarize: basic idea is to reduce fraud. Insurance companies are mainly competing on premium side, but do almost nothing on claim side. So reducing the fraud would have significant effect which could in the end also lead to the premium reduction. Nowadays everyone is paying for big discount given to known people, fraudulent claims, for people who are not paying at all and many more examples… Our opinion is, that this can be reduced by using the social proof concept.
Ales, [20.05.18 10:18]
Question 3:
Can you please confirm what happens when someone makes an at-fault claim?
For example:
- Are they thereafter excluded from potential future insurance with InsurePal?
- Is their score and the score of their endorsers negatively affected?
- Does it matter what type of claim has occurred?
Answer 3: Firstly: claims are happening and will happen in the future. Social proof will not eliminate them. So in the case of claim endorsers will be asked to cover they part if needed of course – depends on the claim value. Users will not be excluded from future usage of InsurePal’s platform. Depending of the type of claim there will be some effect on score card of all stakeholders.
Ales, [20.05.18 10:18]
Question 4: Can you please confirm precisely what your approved patent covers. For example - does your patent prevent any competitor from using the entire system of social proof deductibles in insurance? Or is it more specific to your implementation with InsurePal software/ IPL tokens / etc.
It is not obvious to me why a competitor cannot simply implement the social proof deductible idea in car insurance but without the complication of use of the blockchain / IPL tokens. Less barriers to entry, less requirements for shifts in existing systems, easy to sell to consumers.
Does your patent really blanket guard against all other usage of this concept in insurance?
You're of course welcome to point me towards the patent text if it's a question I can answer myself by reading! But your interpretation would be appreciated, especially if it's a complex legal document
Answer 4: The patent was filed-in. Generally is a broad definition of insurance process (method/computer system) for risk segmentation where mutual recommendations can be taken into account (financial guarantee).
Ales, [20.05.18 10:18]
Question 5: UK insurance regulation is tough and increasingly complex. In the context of your UK motor pilot - Is this something you are specifically addressing in your development? Can you please give a brief summary of how?
Answer 5: Basically speaking (does not link to UK or motor insurance) we are targeting groups of risks for which we believe that are bottleneck for insurance companies. Normally these groups have higher premium than average ones. With social proof help, for these groups of risks we can extract the good ones, which can then as a consequence be offered better pricing on one side and better risk segmentation for insurance company’s side.
Ales, [20.05.18 10:19]
Question 6: Will the UK pilot be an exclusive arrangement with one selected UK insurer?
If yes - then in future implementation after the pilot phase, would the implementation remain exclusive with one partner or do you envisage it being a service that can partner with multiple supporting insurers?
Answer 6: While there is crowdie at the door, our intention at the start is to work with one insurance company per market and per line of business. In the future we will open platform to become real marketplace.
Ales, [20.05.18 10:19]
Question 7: Can you please confirm the exact relationship between insured, yourselves and the underwriting insurer? For example, is the following correct:-
'- InsurePal fronts all elements of the policy sale to the insured, perform all interaction with the prospective policyholder.
- InsurePal derives the premium rate based on THEIR risk models and the contract is signed via the InsurePal app
- InsurePal perform the risk selection. They decide who to accept and reject (?)
- BUT the policy is underwritten by a partner UK insurer.
- Claims are filed by policyholders in the InsurePal app, but the the partner insurer is responsible for claims management
I'm sure there are elements that I have misunderstood or guessed here and so please correct my understanding as it is not clear to me exactly how the arrangement would work.
Answer 7: InsurePal is the platform for endorsement process. It will be, so to say, incorporated in the insurance underwriting process. There are many ways how to do that, so final form will be discussed with every insurance company separately. One way for example is that in the middle of underwriting process on some insurance company’s web page or portal you are offered the link to InsurePal’s platform to get better premium offer. In behind of course is our risk model. Insurance policy in this case will be underwritten under insurance company (also other options exists). Claims could be filed either through our platform or directly to insurance company, which is then responsible for whole claim process.
I hope that these answers give you better insight what will be going on. Thank you and we are in touch.
the project is cool and the sale of the tokens was excellent, but what about my question. Is your platform officially registered? if so, where?
Cap in 3 times below ICO price. 
So bad team or whats the reason? The niche (insurance) is very good and profitable.
So bad team or whats the reason? The niche (insurance) is very good and profitable. How much theyr raised on ICO? What news in development? Team doing something?
Crowdsale details
Start date: 16 January 2018
End date: 16 January 2018
Token distribution date: immediately after the crowdsale
Accepted currencies: ETH
Soft cap: $5.000.0000
Hard cap: $18.000.000
201.000.000 IPL Sold-Out
100 % Hard Cap reached | $18.000.000 raised
The value of any decentralized economy becomes the value of its underlying economy. In case of InsurePal, this is the role of a social proof that motivates diligent clients with bigger insurance discounts and endorsers with engaging incentives. Tokenizing property allows InsurePal to uniquely identify insurance assets and transform the social proof information to other types of businesses via a digital record.
Join Insurepal Telegram for latest news https://t.me/InsurePal
Follow our Twitter https://twitter.com/InsurePal_io
Medium articles https://medium.com/@InsurePal_io
Ok this is getting alittle ridicilious... they are showing charts of how many people see IPL on sites and other media and yet only 2500 adresses own IPL. They have to start paying attention on token as well... the price is horrible... absolutely horrible..
I understand we are in bare market and its hard, but this is droping to faar... IPL pay attention to token as well...
I understand we are in bare market and its hard, but this is droping to faar... IPL pay attention to token as well...
as they say
buy low sell high =)
How much theyr raised on ICO? What news in development? Team doing something?
Ok this is getting alittle ridicilious... they are showing charts of how many people see IPL on sites and other media and yet only 2500 adresses own IPL. They have to start paying attention on token as well... the price is horrible... absolutely horrible..
I understand we are in bare market and its hard, but this is droping to faar... IPL pay attention to token as well...
I understand we are in bare market and its hard, but this is droping to faar... IPL pay attention to token as well...
Great article .. a lot of statistics I see and graphs.
Actuarially fair prices from insurer’s point of view are equal to the expected cost of insurance claims plus administrative costs. Therefore, if administrative expenses are the same for all insurees, the insurance prices of two policyholders should only differ if the expected value of claims is not the same. If one believes the ‘women-are-terrible-drivers’ jokes, the actuarially fair insurance prices for women should be higher than for men. In peer-to-peer insurance, this would imply that you should avoid endorsing females. However, does data support this ‘folk wisdom’?
https://medium.com/insurepal-blog/to-endorse-or-not-to-endorse-fe-males-5cb7cdc09a04
Actuarially fair prices from insurer’s point of view are equal to the expected cost of insurance claims plus administrative costs. Therefore, if administrative expenses are the same for all insurees, the insurance prices of two policyholders should only differ if the expected value of claims is not the same. If one believes the ‘women-are-terrible-drivers’ jokes, the actuarially fair insurance prices for women should be higher than for men. In peer-to-peer insurance, this would imply that you should avoid endorsing females. However, does data support this ‘folk wisdom’?
https://medium.com/insurepal-blog/to-endorse-or-not-to-endorse-fe-males-5cb7cdc09a04
Jump to: