Black Insurance

Black Insurance

Created using Figma
Created using Figma

Last Update

Sep 12, 2018

Black is a digital indemnity society on blockchain. Our platform connects indemnification brokers unswervingly with capital enabling them to on their own virtual indemnification companies. Thus removing the trusted third parties (Insurance Companies) from the value string. Black will be a licensed insurance society that provides insurance content to Agents, Brokers and MGAs enabling them to launch their own virtual insurance companies.
ICO
Nov 1, 2018
Nov 30, 2018
0% completed
Raised funds - no Data
upcoming
Pre-sale
Oct 1, 2018
Oct 31, 2018
0% completed
Raised funds - no Data
Cap 2 000 000 USD
Hard cap 45 000 000 USD
upcoming
Token Details
Ticker
BLCK
Total supply
575,000 000
Token Distribution
67% - Sale
26% - Team
6% - Advisors
1% - Bounty
Accepted Currencies
ETH, BTC, LTC
Min Contribution
100 USD
Company Details
Registered Company Name
Black Foundation OÜ
Registered Country
Estonia
Company Founded
Oct 10, 2017
Bonus Structure
Main Sales:
Day 1: 15% bonus
Week 1: 11% bonus
Week 2: 7.5% bonus
Week 3: 3% bonus
Week 4: 0% bonus
Additional Details
MVP/Prototype
Yes
Platform
Ethereum
Whitelist
Yes ,
KYC
Yes
Categories
Platform, Business services

About Black Insurance

Black is here to make a difference Black will use the blockchain to transfer risk directly from clients
(insureds) to financial backers (Black Syndicate Token holders):
  1. minimizing all inefficiencies
  2. storing all data securely in blockchains
  3. transparent business operations using smart contracts
  4. faster innovation by platform members

Black will fix the insurance industry fundamentally. Black is an insurance platform like Lloyds of London on blockchain without the expense, delays and bureaucracy that we witness today.

Insurance business will be generated by local MGAs / Brokers / Agents whose responsibility is designing insurance products for a market, pricing and selling the product and organizing claims handling. Delegating business to local agents makes the Black business model scalable while bringing business decisions closer to end customers.

 

Features

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 Roadmap

  • Oct. - Nov, 2017

  • Idea and team compiled
  • Nov, 2017

  • Product concept in place
  • Dec, 2017

  • Seed Funding
  • May, 2018

  • MVP launched
  • Read More
  • Summer 2018

  • ICO public sale
  • December 2018

  • Platform Launched
  • Summer 2019

  • EU license

Activity

Status:
Full Member
MEDIUM
Activity:
322
HIGH
Merit:
108
MEDIUM
Posts:
3 992
VERY HIGH
Views:
26 557
VERY HIGH
Posts:
344
HIGH
Followers:
6 631
HIGH
Likes:
6 283
HIGH
Followers:
5 685
HIGH
Tweets:
312
HIGH
Members:
28 747
VERY HIGH
Alexa
Rank:
2 381 712
VERY LOW
Delta:
277 903

Materials

Team

Verified 88%

Attention. There is a risk that unverified members are not actually members of the team

Founder of Black
verified
CTO and Blockchain Solution Architect
verified
COO
verified
Business Development Officer
verified
Product Design
verified

2 ICOs

$26 611

Product manager
verified
Marketing Manager
verified

Advisors

Verified 50%

Attention. There is a risk that unverified members are not actually members of the team

Advisor
verified

5 ICOs

$74 456 092

Advisor
verified

Black Insurance Interviews

RISTO ROSSAR
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I heard about the term initial coin offering first in autumn 2017. The idea to disrupt the insurance industry as deeply as Black plans to do it requires significant investments in the early phases of the project. This was something that could have been a possible roadblock. I suddenly realized that the solution is actually pretty straightforward — in order to move on, we simply need to join the crypto capital and blockchain technology. It was kind of a „now or never“ moment for me, vision-like understanding that it all could actually work out this way.

I took 3 weeks for planning, drafting and describing the project to make it clear and plan it properly. To give you a visual example of the inner drive and passion — I remember that I was sitting on my bathroom floor with a pile of papers in front of me, passionately mapping and drafting the ideas of Black, while my youngest child was in the bath on a Saturday evening.

And the rest is history.
CHRIS WILLIAMS
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I am the CTO for Black Insurance, and have worked as a Solution Architect for many Insurance companies in the past. By 2015, it was obvious to me that there was a better way to operate insurance businesses using blockchain, and I published a whitepaper that summarized these ideas (Project BigFigure). Risto and I met in mid 2017, and we began discussing the future of insurance with enormous enthusiasm, until it became obvious to both of us that we really had landed on a great idea. The insurance industry is going to change significantly in our lives, and Black Insurance intends to be tech and thought leaders for this transition.
MART PARVE
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
When I heard about Black Insurance, I immediately thought: “Damn this is BIG”. Why? All other insurance startups address only a small sector of the entire insurance industry. For example, a startup might focus on distribution of home insurance — it’s limiting both by only addressing the distribution part of the value chain and only the home insurance product line. If it is only doing distribution, it can’t innovate around the product since this is done (or rather not done) by the insurers that underwrite the product that they’re selling.
Black is building a very attractive value proposition that is relevant to the entire $4 trillion insurance industry, across all parts of the value chain, applicable to all insurance product lines.
The value it could add to the insurance industry is about $400–600 billion annually, both by enabling new innovative products and making the existing business more efficient.
Also, Black has really strong founders. As a wise man once told, idea is just a multiplier of execution. Bundeep and Risto have proved to deliver operational high growth businesses one after another.
LIINA LAAS-BILLSON
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I am leading the business development side of Black. Relationships with investors and partners.
MARTIN MÄGI
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
My role is to design and develop the Black platform. I believe the idea behind Black makes a lot of sense in the current insurance industry.
PEEP PAUM
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Black Insurance has a huge potential of being something big from so many different ways and I am glad I can be part of this evolution and fundamental transformation of insurance business.
TRIINU MURUMÄE
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I am the Marketing Manager of Black Insurance handling all ICO activities including social media, PR, content marketing.
There is a strong need for a change in insurance industry and it is already happening. It is a good time for Black to be part of it and make it happen. We have seen quite many successful insurtech startups, ICOs and blockchain applications for insurtech. It sure is Black time!
ANDO KIVILAID
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I have been involved in insurance business almost forever now and with a strong and long experience also in blockchain and cryptocurrencies I am helping mostly with the strategy of Black.
Alex Norta
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
The traditional way how insurance companies conduct their business is hopelessly outdated and coercively protected by artificially created oligopolies that governments have installed. Consequently, the traditional insurance industry is comparable to dinosaurs and ready for a total disruption using blockchain technology and smart-contract. The Black Insurance project is aiming precisely for such a powerful disruption.

Last News

4.07
positive
5.0 4
ICO Profile Vision Activity Potential Product Team

Black Insurance Reviews

Samson Owiti
Cryptotrader, Crypto investor, Blockchain business expert

BLACK INSURE

This is a digital insurance platform on blockchain technology providing a marketplace for insurance brokers and investors enabling the brokers to form their own virtual insurance companies and products.

PROS:

  • The platform  use  promotes easy spread of great ideas in the market  faster as it empowers the brokers enabling them to set up their own virtual  insurance  companies  hence eliminating slow and expensive insurers from the chain
  • The platform use results to lower cost as it  connects the brokers  to capital directly  and the use of smart contracts equally  cuts down the administration costs
  • The platform promotes transparency and democracy in the insurance  industry as  it  provides  insurance entrepreneurs with innovative ideas to the capital  they seek without any judgment based on the pocket value
  • The platform promotes the involved insurance companies to have a  reduced administration expenses   by a percentage reduction of between 5-10% aided by the use of blockchain technology
  • The platform users information  are securely stored in blockchains by the platform limiting any access by  unauthorized personnel and any loss due to hacking
  • The platform has a credible team on board with relevant and  related skills and experience under the guidance of the founder Risto Rossar
  • The platform enables the users to own two different types of tokens including Black Platform Token(BCT)  and Black Syndicate Token(BST) promoting them to derive different benefits from their use

CONS:

  • The platform white paper is less detailed with  missing team members as in the website
  • The platform  white paper is only available in two languages limiting its usage
  • The types of risks insured against are not highlighted

SUGGESTIONS:

  • The platform white paper should be more detailed by including the team involved  and project disclaimer
  • The platform should involves internationally qualified translators to help in the production of the white paper version other languages expanding the project use

NOTE:

The platform enables the easy creation of virtual insurance companies by the brokers through the use of blockchain hence eliminating the exploitative and expensive insurers in the chain   making it viable and worth investing on.

 

 

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