Black is a B2B platform from Estonia, that provides the capital to agents, brokers and MGAs to launch their own insurance products, fast. It is built on a distributed ledger technology, commonly referred to as the blockchain, which will improve the current insurance business model by connecting the insurance entrepreneurs with capital making it easier for them to launch new products and saves costs.
We will use two types of tokens:
Black Platform Token (BLCK) - BLCK powers the infrastructure, providing access to the platform and for conducting voting on system updates to the platform (utility token)
Black Syndicate Tokens (BST) - (issued when the platform is ready). BST is an investment in insurance capital, and a specific BST is created for each syndicate (security token), The profitability of the insurance portfolio for a specific syndicate will pass-through to the holders of it’s BST.
Fintech expert, scientist, and blockchain visionary Professor Alex Norta has joined forces with Black Insurance, helping with technical whitepaper. Black promises to be a gamechanger in the world of digital insurance by using the blockchain to transfer risk directly from clients to financial backers.Highlighting the potential of Black Insurance, the company’s founder Risto Rossar said, “I have been in the insurance industry for over eighteen years and I realized that I don’t care about insurance. In fact, no one should care about insurance. It should be as simple as breathing and work without customers having to worry about it. We can solve a lot of inefficiencies through technology and will disrupt the insurance industry from the inside, building a seamless process that customers don’t have to deal with.”
To find out more, please visit
https://www.black.insure/
Black connects insurance entrepreneurs with innovative ideas to the capital they seek.
An example:
An insurance startup “CryptInsure” has recognised the need for insuring crypto wallets hosted by third parties. They list their product on the Black platform after it has been approved by the Black experts. A syndicate focus ing on crypto products recognises the product and decides to invest. CryptInsure gets the needed funding and starts to distribute the product to customers. All done in 2 months.
http://www.black.insure/
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