Topic: 📢 [ANN]Black Insurance digital insurance company on the blockchain - page 32. (Read 8006 times)

I am also interested in it im vote this project thanx
Amazing ideas that will bring more way to make life easier and useful to help people in the future.
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Good idea having an insurance with my crypto, interesting. I'm just confused with the two tokens so you mean that there's a token swap once the platform is ready or both them will circulate in the market? Hmmm. And also regarding the insurance, are you planning to do other kinds of insurance? Say life, other business etc.

You can register for our bounty campaign on telegram @blackinsurebot

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Just one month of bounty campaign. Don't lose your chance to get free tokens.

[moderator's note: consecutive posts merged]

The key members of the Black team is listed on our website http://www.black.insure, together with LinkedIn profiles.

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In the broadest of terms, we need to accomplish the following things:

• Finish developing the blockchain enabled insurance platform that lays foundation to Black Insurance's business. Insurance policy administration is a notoriously complex thing, but our staff includes people with ~20 years of policy admin technology experience.
• Become a licensed insurer. In order to enable our users (Syndicates and Brokers) write any insurance policies, we need to be licensed. This requires reserve capital, and also involves significant legal costs.
• Attract Syndicates, Brokers and Investors to join the platform and start transacting business. This requires marketing and sales outreach.

We indeed have plenty of blockchain / insurance related companies on our radar, including Etherisc, Blocksure, Insurepal, ixledger, PolicyPal, ChainThat, fidentiaX, InsurChain, B3i etc.

Now, in my mind, I'm seeing the blockchain / insurance landscape or positioning as follows (from simplest to most complex):

• Service providers create blockchain solutions for the insurance industry, without participating in the insurance vertical themselves
• Products companies create new, innovative insurance products (e.g. parametric insurance, IoT related stuff etc), by establishing a partnership with an insurance company to underwrite the policies, and sell to customers
• Insurance companies are product companies (above) that don't partner with an existing insurer, and attempt to become a licensed insurer themselves
• Marketplaces enable creation, capitalisation and distribution of insurance products for platform members, that can include other insurers, brokers, agents and all insurance industry members. This strategy also requires an insurance license, and much more.

As far as we know, Black is currently the only blockchain / insurance startup that is actively pursuing the marketplace strategy. The part of the value chain our positioning addresses, is the biggest and most fundamental - all insurance products in the world are created and capitalised, and currently the only ways are through an insurance company, or Lloyd's of London. We're adding a third option.

However, please do list interesting competitors, should you know any!

[moderator's note: consecutive posts merged]

As for the 2 kinds of tokens:
- Black Platform Tokens (BLCK) are utility tokens. Issuing policies, handling claims and other transactions cost users Black utility tokens (BLCK). There is a finite amount of BLCK, and the only way to transact on Black is to buy BLCK from holders on exchanges.
- Black Syndicate Tokens (BSTx) are securities tokens, and will be issued next year, when we have become a licensed insurance carrier. Syndicates issue BSTx tokens in ICO-s and invest the proceeds in various insurance products, created by the users of Black platform.

Now, what are Syndicates? Syndicates are groups of insurance professionals that create ICO-s on the Black platform, and invest in insurance products, also listed on the Black platform. For instance, some entrepreneur creates a crypto wallet insurance, and a syndicate invests in this product. The product can be now traded, and should it make profits, BSTx token investors share the profits.

Why don't investors invest directly in insurance products? Because managing an insurance product is a professional activity, requiring underwriting, actuary, claims handling and adjustment, and reporting capabilities. This is what Syndicate takes care of, in addition to selecting a well balanced portfolio of different insurance products to invest in.

Other kinds of insurance:

Black platform is product agnostic - users can list any type of product. Life, property, liability etc. It's up to Syndicates to select which products they invest in, and to Investors to decide which Syndicate they fund in ICO-s.

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Black platform is product agnostic - users can list any type of product. Life, property, liability etc. It's up to Syndicates to select which products they invest in, and to Investors to decide which Syndicate they fund in ICO-s.

Now, what are Syndicates? Syndicates are groups of insurance professionals that create ICO-s of BSTx tokens on the Black platform (x representing the number of the Syndicate), and invest in insurance products, also listed on the Black platform. For instance, some entrepreneur creates a crypto wallet insurance, and a syndicate invests in this product. The product can be now traded, and should it make profits, BSTx token investors share the profits.

Why don't investors invest directly in insurance products? Because managing an insurance product is a professional activity, requiring underwriting, actuary, claims handling and adjustment, and reporting capabilities. This is what Syndicate takes care of, in addition to selecting a well balanced portfolio of different insurance products to invest in.

[moderator's note: consecutive posts merged]

Sounds good so far but I have a few questions?
1. What will be the use of the tokens exactly?
2 who are your competitors in the cryptoshpere?

Due to the various settings of telegrams, some users have difficulty connecting to the group. When using the link: https://t.me/BlackInsurance
there were difficulties?

Is it compulsory to join all the channels?

I think I still need a little clarification about the two tokens mentioned and also when is the bounty starting?

Don't forget to subscribe for us in social medias
Website:
http://www.black.insure/

Twitter:
https://twitter.com/BlackInsure

Facebook:
https://www.facebook.com/blackinsure/

Telegram:
https://t.me/BlackInsurance

Linkedin:
https://www.linkedin.com/company/black-insurance/

Good idea having an insurance with my crypto, interesting. I'm just confused with the two tokens so you mean that there's a token swap once the platform is ready or both them will circulate in the market? Hmmm. And also regarding the insurance, are you planning to do other kinds of insurance? Say life, other business etc.

Where can I find out more about the team of this project? Maybe, I did not read it on the official website, but I did not see it there. in general, I like the idea of this project.

Black Insurance 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). All platform users will use BLCK for managing insurance on the Black platform, and demand for BLCK will increase as more insurance business is conducted on the platform.
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.

Black Insurance is like having many benefits, but is there any other age limitation criterion to be able to join ?
Here will guarantee until 2021, automatic this project will run long and need a relieble team, good luck for Black Insurance.

quote from website :
Token Holder Benefits
BLCK can be used to pay for services on Black platform. Black will guarantee that until 1st of January 2021 service fees paid with BLCK will be at least 20% cheaper than service fees paid in any other currency.

Does it have another benefit that aren't mentioned in the website, just as what i copied above?
Will that means this insurance is just some kind of infestation token, is it?

hello dev, sorry if i ask about bounty here. based on data above this project will be finished sales of ICO in september and what bounty also finished in september? means bounty will run for 5 months? thank you

Thank you. Stay with us for further news

Even though I have no expert view on how insurance business operate I am certain the entities that might in the future the choose to work with ur insurance vehicle, would demand a clarification on where ur hide ur coward anonymous ass. Theres a fundamental point of weakness that undermines ur theoretical business strategy: point of centralization. U are the middle man, untrustee, lame horse, u are the weakness.