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Black Insurance [BLCK]

Welcome my friends to a new interesting ICO today and let’s see their great idea:

Insurance Industry on blockchain

Black is an advanced insurance agency on blockchain. The platform interfaces protection specialists specifically with capital empowering them to dispatch their very own virtual protection organizations. In this manner expelling the confided in outsiders (Insurance Companies) from the esteem chain.

The project vision, mission & goals

Black will be an authorized insurance agency that gives protection ability to Agents, Brokers and MGAs (hereinafter “Specialists”) empowering them to dispatch their own virtual insurance agencies. The team ability comes without the customary overheads of insurance agency while utilizing blockchain as principle stage to dispose of unified insurance agencies.

The project associate the plan to the capital specifically, supplanting the gatherings that are not required in the esteem chain with innovation. The team will do this through crowdfunding, likewise giving littler financial specialists a path in. This more slender model gives more duties to protection specialists and command over the items they are offering. Safety net providers are essentially a confided in outsider – blockchain gives us an option in contrast to that and the requirement for back up plans vanishes.

After some time Black will accumulate substantial amounts of information from various markets, and by investigating it with machine learning and AI, Black can figure the costs at which any protection business can be gainful. The team will execute savvy gets that acknowledge protection arrangements from Brokers just on the off chance that protection premium is in any event on the level that does not make misfortune to Black.

Plan of action

Black gathers charges from clients for utilizing the stage for various activities. For instance: syndicates subsidize a protection item with capital. Black Insurance’s expense will be a % of the GWP (Gross Written Premium). Charges to be paid in BLCK tokens.

Black Foundation will pitch the tokens available to take care of expenses of activity: Development, HR, administrator, lawful and advertising. An excess of tokens will be stayed with in the save for events when costs rise and utilization of the stage is lower. The establishment save will have an upper level. When this level is achieved the project will choose what to do with the excess. Some potential alternatives are:

  • Invest in entering new markets
  • Invest in extension and developing client base
  • Distribute to stage clients wallets as rewards
  • Burn tokens

The project benefits:

What Black gives to Brokers

  • Capital to plan protection items and offer them
  • Technology. Agents can utilize UI or API to store protection approaches and claims into the stage.
  • Insurance License. Black will set up an EU authorized insurance agency, enabling to coordinate with Brokers over the EU. Contingent upon capital raised likewise mean to apply for licenses in different locales.

Reinsurance

Black will utilize reinsurance understandings to impart the hazard to reinsurers. This will shield Black from outsized dangers to its capital.

  • Quota share assertions: Black will hold some hazard and premium, while imparting the rest to a reinsurer up to a foreordained most extreme inclusion
  • Stop-Loss Reinsurance: Losses over a particular sum are secured exclusively by the reinsurer and not by Black.
  • Surplus Treaty Reinsurance: Black holds a settled measure of approach risk and the reinsurer assumes liability for what remains

 

The project token:

Black Foundation will be issuing two sorts of tokens: Black Platform Token (BLCK; utility token) and Black Syndicate Tokens (BSTs; security tokens). BLCK can be bought and possessed by any User account on the Public Blockchain arrange, while BSTs must be acquired and claimed by checked “Certify Financial specialists”. BLCK will be utilized to pay for Platform Services, they don’t acquire a benefit, and the aggregate sum of BLCK will just therapist as they are singed by Black Establishment. BSTs are ventures made by Syndicates that will gain a benefit, what’s more, the sum and sorts of BSTs will develop and contract dependent on the extraordinary sorts of Syndicates that exist at some random time.

Black Platform Tokens (BLCK) are utilized by Platform Users to pay benefit expenses to the Black Platform while asking for Platform administrations.

The Project Roadmap:

2018

  • Prototype, Platform tech demo using Fabric+Composer
  • MVP, Demo ready for Investors
  • ICO, Black DAO launched on Ethereum
  • Alpha, Platform accepting first Users
  • Token sale

2019+

  • First Syndicate management agreement signed
  • Beta, Platform ready for pilot projects
  • Black gets its own insurance license in EU

2030: Black’s model of insurance becomes mainstream

The Project Team:

Black Insurance has been designed and created by a highly experienced team of technology experts. The team’s members bring together expertise that gives them a deep understanding of the challenges faced by many crypto enterprises including the legal, regulatory and compliance issues.

  • Risto Rossar – Founder
  • Bundeep Rangar – Founder
  • Chris Williams – CTO
  • plus the Black Insurance team & advisers

Finance:

  • Token: Black Insurance
  • Abbreviation: BLCK
  • Platform: Ethereum
  • Accepting: ETH, BTC, LTC
  • Total supply: 80m BLCK
  • 1BLCK = $ 0.2

More info:

Main Sale Tokens availability:

  • Start date: 1.Nov.2018
  • End date: 30.Nov.2018

 

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