The right design will make it easier for us and others, this can be likened to as well as designing when we are sick and when we will finance the education of our sons and daughters later. With the right design will provide the best solution in the future.
With insurance, we can design what we need now and in the future that will bring benefits to ourselves. For example, insurance can make us have planning and expectations that are not blurred in the future, many companies offer insurance products that we can choose according to what we want.
The job of an insurance company is to collect incoming funds that will be managed and will be returned to when in an emergency condition or according to the plan that we take, in a company with many plan insurance that can be taken and some of them have differences from these companies. Good business management requires funds that have been invested so that funds are more productive to manage.
Investment activities by insurance companies in addition to supporting national development can also reduce insurance costs, where with this profit or profits obtained through investment funds, the presentation of profit elements calculated in determining the premium can be reduced.
One Insurance Company is now starting to participate in payment methods through Crypto, KNOX Project will be the first insurance company to combine the real world with the digital world using Blockchain technology, creating the most efficient and sophisticated structure in the sector, to find solutions to certification problems and anti-counterfeiting insurance policies.
Thanks to the platform developed by Knox's insurance, the policy will develop to be fully automated and eliminate the possibility of conflicts of interest between the parties involved.
The insurance company is planned to be established in Lisbon, Dubai and the Bermuda Islands, to enable Knox's insurance to operate in a variety of laws and allow token economies on a global scale, for more details you can see it directly on their official website https: // inscoin. co.
With a smart contract, the company will not have a delay in collecting credit, because the policy is issued only after receiving payment. This factor aims to significantly improve company management.
With smart contracts in the event of an accident, real judges who will decide whether to pay them are no longer a company, which can have opportunistic behavior, but the blockchain system, which is not at all interested in human opinion, will decide whether the Accident is in accordance with the policies.
This benefit will be the most important because it will increase the transparency of the company to customers.
The Traditional Insurance Industry and the Main Issues as a Challenge to be Solved
The insurance industry began in the 14th century in Italy. Since then, this sector has evolved from the beginning to use verbal methods to become a written policy and has now become a smart contract. This sector has gained tremendous growth, this is because insurance can now cover almost everything that is needed. In addition, the Industry continues to experience higher productivity year by year.
Although the growth and development of the insurance industry are fast, however, fraud has become one of the main challenges that many players have struggled to overcome, this is a very serious problem. An FBI study stipulates that every year, insurance companies lose about $ 40 billion through fraud. This fee is transferred to insurance customers where every American family is forced to pay an additional $ 500 in insurance premiums. But now insurance companies have also been forced to invest in cybersecurity to reduce attacks like this.
How can Blockchain change the Insurance Industry?
Here are some benefits of using Blockchain technology in this Insurance Industry:
To clients
- Smart contracts prevent the spread of insurance policies to run in a fraudulent manner because that is the same system that will be issued after payment is received.
- Clients have complete control over their insurance policies (transparent).
- Customers can access all services through the WEB and the cellular platforms that have been provided and can check their policies.
For Insurance Companies
- With a smart contract, there will be no delay in collecting premiums, which is achieved to increase the company's cash.
- Thanks to Blockchain, fraud policies will never be passed on to the company.
- Blockchain improves business processes and ensures a truly immovable security system.
For Brokers
- Gain credibility for policyholders and beneficiaries.
- Direct control over administrative reports.
Team
 
Agostino Raffaele
Luongo
Co-founder, CEO
|
Giuseppe Luongo
Founder
|
 Francesco Piras ICO Consultant |
Anna Maria Calcagni
CFO and COO at
INSCOIN Holding OU
|
Giuseppe Stabile
CHRO and CBDO at
INSCOIN Holding OU,
Insurance Broker, CEO
at GS BROKER
|
Andrea Mancini
CMO at INSCOIN Holding OU
|
Roadmap
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