INSUREUM

INSUREUM

Created using Figma
Created using Figma

Last Update

Jun 4, 2018

THE INSUREUM PROTOCOL We are bridging the technology gap between insurance, 3rd party player, and user. Using the Insureum Protocol, insurers get the data they need to created better policies. Developers and other third parties are incentivized to connect their apps and services to the Insureum Protocol. And policyholders are rewarded for sharing their anonymized data. With this ecosystem, these parties can exchange blockchain based tokens (Insureum) to buy and sell 100% anonymized data. Using blockchain to securely send this information between all parties, and to build new insurance policies will save the insurance industry millions every year.
Private Sale
Apr 30, 2018
May 30, 2018
100% completed
$30 000 000
300% goal completed
Goal 10 000 000 USD
past
  • 1 ISR
    =
    0.1 USD
Token Details
Ticker
ISR
Company Details
Registered Country
South Korea
Additional Details
Platform
Ethereum
Whitelist
Yes ,

About INSUREUM

Abstract

Despite the insurance industry’s success over the last 30 years, it has never been a technology
leader. Finally, with the Insuruem Protocol, the insurance value chain will become cost efficient
and simple, and create larger value in the insurance industry by enabling transactions between
stakeholders. Insurance companies, policyholders and 3rd parties alike can all make
transactions according to their own competencies, and all excess value (created from the
transactions) is shared based on their contribution.


Zikto started negotiations with insurance and financial institutions in 2015, concerning the
gathering and processing of lifecycle data. It was these new connections that led Zikto down the
path toward changing their focus as a company.


The Zikto team realized that a lot of players in traditional finance-based sectors have a strong
initiative to understand their current and potential customers. A data-gathering intermediary can
be a real asset for these sectors to understand their target audiences. With reliable data, they
can develop better products that are customized, digitalized and more cost-efficient.


However, it is very difficult and costly for these sectors to gather this data by themselves. It
requires a significant investment of time and money to develop and integrate such a system,
market it to the public, manage the data gathering processes, and analyze it. The Challenge,
Zikto’s data integration platform, bridged the gap nicely by providing data and analysis gathered
from various smart devices. Zikto secured a number of sales agreements and ongoing
negotiations with global insurance companies, as The Challenge offered a good value-for-price.
As just one of millions of app developers, Zikto ultimately decided to side with the win-win
monetization strategy of adjusting their focus to the processing and integration of data.


Now, Zikto is expanding the idea of data sharing to another level: developing a protocol to
facilitate the transactions. It will promote more stakeholders in the traditional insurance industry,
benefiting all. Insurers will find easier ways to gather data, users and policyholders will have
access to better insurance products, and third parties like app developers and sales agencies
will find optimal ways to monetize their services and products.


The Insureum Protocol is a new blockchain-based insurance ecosystem that seeks to connect
insurers, their customers, and developers. It is designed to assist insurance companies in
tailoring insurance policies to individual lifestyles to provide unique incentives for customers.
Zikto’s vision is for the Insureum Protocol to create the conditions through which many new
insurance products attractive to people under the age of forty are developed.

Features

The Insureum Protocol bridges the technology gap between the insurance industry, 3rd party
developers (Applications & IoT), and policyholders.


Unlike manually managed value chains, the Insureum Protocol uses blockchain technology to
create a decentralized ecosystem which connects insurers, their policyholders, and third-party
developers, and seeks to provide access to a plethora of individually anonymous, but
demographically identifiable data. The premium paid will enrich the total value creation of the
industry. Furthermore, the created value is shared based on each stakeholder’s contribution.


In recent years, adjacent industries (finance and healthcare) have been seeking new ways to
access customer data. In the insurance industry, IoT, wearables and other smart technology can
give highly relevant information about customers to insurance companies that can help them
tailor-make plans and create insurance products which appeal to potential customers.
For example; GPS and telematics tracking can inform insurance companies how fast someone
drives, or suggest that a driver who regularly drives for long periods should schedule more
breaks. Other technologies may track how often they go rock climbing, cycling, etc. Insurance
companies could also determine the amount of steps taken during a normal day as one
measure of health.

Within the Insurem protocol ecosystem, insurers, their policyholders and third party developers
can exchange blockchain-based tokens called Insureum to buy and sell anonymized data.
Insurers will receive the data they want and have the opportunity to develop totally new or even
better types of insurance products, especially for usage-based insurance segmentation.
Developers are incentivized to connect apps to the Insureum Protocol to receive Insureum, and
policyholders are rewarded for sharing their anonymized data.


The value of the Insureum Protocol is described below. The value to any particular stakeholder
may vary depending on the future development of the Insureum Protocol and other factors.
However, Zikto plans to ensure the main idea of Insureum-incentivised data-sharing will be
actualized in the following ways during the first stage.

2.1. Policyholders


The Insureum Protocol gives policyholders more power to choose plans that perfectly match
their lifestyles by providing insurers with diversified data, even though such plans will not be
purchasable through Zikto or marketed via the Insureum Protocol, at least at the initial stage.
However, we have plans to serve as a free marketplace for insurance products in the future
after acquiring the proper regulatory licence. When policyholders choose to share data, they are
rewarded by being able to trade and earn cryptocurrency (Insureum). They could, at a later
stage, perhaps also save time and effort when making claims, as most of the processes would
be automated by utilizing smart contracts on the blockchain.


By its fit-for-all nature, consumer insurance products cannot meet the needs of the various
individual policyholders. With the Insureum Protocol, policyholders will be able to purchase
customized insurance products such as (for example) pet insurance, car insurance only for
long-distance driving, real estate insurance only during the holiday season, cybersecurity
insurance and others for a more reasonable price. Secondly, the data that they currently share
for free will be made more valuable. Data users (insurers and other third parties) will reward the
policyholders (and other data providers like app users) for the data with Insureum. Considering
that there is currently almost no reward for the data, this will dramatically impact perspectives on
the value of the data.


Imagine an insurance policy that rewards you if you hit metric goals like walking 10,000 steps
per day. Or if you’re a safe driver and don’t slam your brakes in traffic, you’ll be entitled to a
discount.

2.2. Insurance companies


Insurance companies will be able to create mini ecosystems that contain in-house or third-party
apps that accurately gather and analyze the real data of (potential) policyholders. Within these
ecosystems, cryptocurrency is exchanged between developers and insurance companies, and
can be used to buy and sell anonymized data to develop and manage customized product
offerings.


Being able to identify fraud by cross-referencing transactions on the blockchain could also help
insurance companies to save time and money when it comes to underwriting and the claims
process.


2.3. Developers


Currently, many of the apps that gather user data via IoT devices don’t appear to have proper
business models through which they may easily and quickly monetize this data. Using Insureum
and The Insureum Protocol, app and API developers may be able to create and maintain a
variety of new programs based on requests from insurers. The Insureum Protocol could be used
by both insurance companies and developers to exchange apps and/or data in a turnkey
ecosystem, with limited difficulty and costs due to transactional or trust issues, as all
transactions will be based on Insureum and on a blockchain.

 

Technical Info

https://github.com/TeamZikto/Contract

INSUREUM Roadmap

  • 2017.4.1

  • Launch of ‘The Challenge’ (Integrated step count platform for wearable devices and
    smartphones)
  • 2017. 5. 1

  • Operation of blockchain-related pilot project with SK Telecom, CoinPlug, Daily
    Intelligence (ICON)
  • 2017. 6. 1

  • 5-year contract to provide step count data to KB Kookmin Card
  • 2017. 10. 16

  • Completion of first draft of the white paper
  • Read More
  • 2018. 5.30 Pre-Sale

  • ICO
  • 2018. 3Q

  • Pilot test Insureum using ‘The Challenge’
  • 2018. 4Q

  • Deploy MVP for Insureum protocol interface to gather usage data globally
  • 2019. 2Q

  • Launch Insureum Platform (phase 0) and implement strategies to gather main
    players (insurance companies, users, 3rd parties)
  • 2019. 4Q

  • Start Phase 1, focus marketing on DApp developers, distribute smart contract
    templates
  • 2020

  • Start Phase 2, focus marketing on sales agency (GA), develop optimal sales commission
    scheme
  • 2020 3Q

  • Start Phase 3, focus marketing on inspectors, connect to IoT devices
  • 2021

  • Pilot test underwriting automation, start discussion on Insureum Protocol expansion

Activity

Activity:
127
MEDIUM
Posts:
37
VERY LOW
Views:
543
VERY LOW
Activity:
127
MEDIUM
Merit:
2
VERY LOW
Posts:
8 739
VERY HIGH
Views:
58 357
VERY HIGH
Users:
1 744
VERY HIGH
Posts:
745
VERY HIGH
Followers:
8 679
HIGH
Likes:
8 593
HIGH
Followers:
1 799
LOW
Tweets:
259
MEDIUM
Members:
6 609
HIGH
Alexa
Rank:
1 919 619
VERY LOW
Delta:
-185 773
Year commits:
14
Watchers:
4
Stars:
1
Forks:
0
Open issues:
0

Team

Verified 93%

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

Co-founder, CTO and co-CEO
verified
Co-founder, CFO and co-CEO
verified
Lead blockchain developer
verified
Growth hacking Director
verified
Senior Analyst
verified
Senior Back-end Developer
verified

2 ICOs

$43 193 140

Senior Developer
verified
Sales Director
verified
Marketing Manager
verified
Blockchain Developer and Analyst
verified
Sr. Graphic Designer
verified
Graphic Designer and Jr. Developer
verified
Customer service Manager
verified
Financial Administrator
unverified
Financial Administrator
verified

Advisors

Verified 85%

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

2 ICOs

$30 000 000

Advisor
unverified
Advisor
verified

28 ICOs

$114 591 980

Advisor
unverified

4 ICOs

$30 000 000

Advisor
verified
Advisor
verified
Advisor
verified
Advisor
verified
Advisor
verified
Advisor
verified
Advisor
verified
Advisor
verified
Advisor
verified
Advisor
verified

INSUREUM Interviews

Ted Kim
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I'm co-founder and CEO of the Insureum Protocol. We are very excited about the project.
David Suh
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I am the Co-CEO and CFO of the company. I am in charge of Strategy / fundraising / business development of Insureum project.
Thomas Choi
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
interested in lightening network & Schnorr sig.
Ziggy Bak
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Overseeing the strategy and marketing, as well as internal operation.
Eric Hwang
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Senior Analyst
Eric Kim
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Principal Engineer
Jay Kim
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Developer
Andrew Suh
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Good~~
Michael Ahn
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Marketing Manager
Peter Han
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Jr Developer
Hayden Lee
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 deliver an image of integrity and trust through design.
Victoria Shangina
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I am Graphic Designer & Jr. Developer in Zikto. I am responsible for graphic design and website development for Insureum.
Newt Choi
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
CS manager
Donna Lee
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Accounting and HR Manager
Chanwoo Lee
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Financial Advisor
Kingsley Edwards
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Blockchain Advisor
Chanki Lee
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Investment advisor
Yoon-Sup Choi
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
As an expert in digital healthcare, I will contribute to develop new usage-based insurances using digital healthcare methods.
Sung-ki Lim
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I'll advise regarding insutech, product development and acurial model to connect with zikto big data as an Actuary.
Kwang-nam Kim
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I invested in Zikto two years ago as the CIO of Idea Bridge Asset Management. So I understand deeply the business model of Zikto and l am consulting the contents of the white paper,etc.
Gana Oh
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Thank you!
Chiweon Kim
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
I play an advisor role at Insureum.
Santhosh Kumaraswamy
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
The Zikto team has an outstanding track record and I have confidence that they will disrupt the insurance industry with Insureum!
Yohan John Kim
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Excited to be part of a service/product that can be adopted and used by both enterprises (insurance companies) and consumers (UBI products).
Sungjae Hwang
As a team member, сan you tell us about your role in the ICO project? What do you think about idea?
Strategy.

Last News

3.78
stable
5.0 15
ICO Profile Vision Activity Potential Product Team

INSUREUM Reviews

Samson Owiti
Cryptotrader, Crypto investor, Blockchain business expert

INSUREUM . is a blockchain-based insurance ecosystem that seeks to connect insurers, their customers and developers. It helps insurance companies in tailoring insurance policies to individuals lifestyles to provide unique incentives for the customers.

PROS:

  • The platform  ensures that data and transactions from the wearable  are  securely and totally decentralized thus making the industry to be incredibly risk-prone
  • The platform use promote transparency as all the transactions are  open and data sharing   and processing is carried out automatically without the involvement of anybody
  • The ecosystem enables the insurers to get data they need  easily to help them create better policies  giving them the opportunity to develop a totally new  and better insurance products  for usage-based insurance segmentation
  • The platform bridges the technology  gap between the insurance industry,3rd party developers and policy holders  hence providing access to a plethora of individually anonymous but demographically identifiable data
  • The  Insureum token can be used as a nodes to access value chains  enabling the nodes and participants to be rewarded each time their  data used for analytic purpose by the insurance companies
  • The platform team  is composed  of well experienced professionals from  various sectors  including data, finance, digitalization, sales and marketing   led by the CEO Ted Kim

CONS:

  • The platform white paper is  too comprehensive for users with basic knowledge on the insurance
  • The Insureum token  is not compatible with fiat and other commonly used crypto currencies
  • The sudden changes on the white paper without the knowledge of the users and the involved companies can hamper the smooth token exchange

SUGGESTIONS:

  • The platform token should be made exchangeable with other crypto currencies and fiat to enable all the users  make payments easily
  • The platform co-founders and the CEO should make the project white paper simple and understandable to users with  basic knowledge

NOTE:

The platform creates a decentralized ecosystem that easily connects the insurer, policy holders and other third parties enables insurance companies to offer faster and cost-efficient services making the project viable. I would therefore invest in it.

 

Read More
ICO Pantera
B+
Read More
Jeremy Khoo
Group CEO | Blockchain Entrepreneur | VeChain ICO Partner | Fund Partner | Exchange Founder |
Tough industry with a lot of regulatory hurdles. However, this is an innovative product with a strong team with a record to boot. Would look forward to measured progress.
Read More
  • Because there may be time differences in information updates, accurate information about each ICO project should be verified through its official website or other communication channels.
  • This information is not a suggestion or advice on investing in ICO funding. Please thoroughly investigate the relevant information yourself and decide on ICO participation.
  • If you think there are issues or problems to be corrected on this content, or if you would like to submit your own ICO project to be listed, Please email us.
Please read the disclaimer and risk warning. Show disclaimer and risk warning.
Planning an ICO? We can help with a wide range of support for all stages of your ICO