Buy and Sell Insurance Companies who have insurance products they wish to sell would list them on the market. Companies who wish to buy insurance would use the search or get notified of the listing.
Portfolio Management In order to organise your transactions they can be structured as portfolios. High-level, aggregated information for the transactions is available.
Transaction Execution When a suitable insurance product is found the participants begin the process of exchanging the required information. Each step is tracked in the platform.
Market Insights In order to see what is on offer, and gain an understanding of the market, a rich and powerful dashboard gives you a real-time view.
The InsureX architecture is a cutting edge stack consisting of React, NodeJS, Ethereum Blockchain and OrientDB.
Blockchain Technology Our marketplace leverages blockchain technology which offers all participants consistent, shared and secure processes. The nature of the decentralised blockchain allows a completely trustless interaction between parties which removes third party costs and commissions. Our platform leverages the Ethereum blockchain which makes it easier for external developers wishing to contribute without having to familiarise themselves with yet another blockchain implementation. storage
High-Performance Storage In order to process certain transactions, private and confidential information is required to be stored and exchanged. Our storage is a secured NoSQL data fabric. It compliments the blockchain network by providing fast access to different data such as medical records or other confidential information.
Multiple levels of security, external authentication and strong usage profiling are included. important_devices
Application Stack The UI is implemented using React which is fast and responsive. We use a Node.js backend which handles most of the business logic. The React and Node.js combination has proven to be a very fast, lightweight and robust approach. The UI renders on tablets and phones and as part of our roadmap we’re developing a mobile app, in order to take advantage of the native phone and tablet capabilities.
- Uses blockchain technology to streamline the process between buyers and sellers of insurance products - Provides a platform to manage the downstream processes related to programs, policies, premiums and claims - Charges a commission on transactions being executed on the marketplace and an annual subscription for memberships - The IXT Token works as a mean to reward or get rewarded for participation in the marketplace. Each activity on the platform has an associated cost specified in IXT
R&D. Prototype. Establish partnerships.
Funding. Team expansion. MVP. Early adopters.
Sign up 10 clients. Extend downstream processes.
Attention. There is a risk that unverified members are not actually members of the team
$12 172 472
Opportunities:The project has some strong team members and advisors, including the Chief Underwriter for General Re in Europe. Gen Re is one of the largest insurance companies in the world with $5.6 billion of premium in 2016. It is also a member of the Berkshire Hathaway group of companies. If Gen Re becomes one of the first companies to use InsureX’s platform, it can be a lot easier for other insurance companies to follow suit.There is a genuine need for decentralized platform to improve efficiency of the entire process in the insurance industry. The insurance industry is currently manual, paper heavy, slow, and error-prone, which allows a lot of room for blockchain technology to disrupt the industry.There is a network effect in play for this project – the bigger this platform is, the more attractive it is for other insurance companies to join the marketplace.The project doesn’t really have a direct competitor now: Etherisc can be complementary to InsureX’s platform. ACORD’s partnership with R3 can be complementary to InsureX’s platform and InsureX has a strong connection to R3.Lemonade is B2C vs. InsureX’s B2B focus.
Concerns:The project is nothing but an idea now – there is no completed product to show for. Even if everything goes according to plan, they won’t begin signing up clients until Q4 2017. You need to trust that the team will be able to deliver.The CEO of InsureX is also listed as the founder of another startup, Finserve. It is unclear how he will allocate his time between the two ventures.
Conclusion:Overall, I like this ICO, both for short- and long-term potential. InsureX is tackling a big problem that needs to be fixed and if successful, token value can appreciate substantially.Our thoughts of the tokens for short term and long term are as follows:For short-term holding:Good because the project has some strong team members and advisors, which should make it easy to attract funding to fill the hard cap quickly. Note that tokens will be distributed 3-4 weeks after the end of token sale, which is longer than the average ICO.For long-term holding:As mentioned above, the potential is great, but execution is key and it is unclear from what we see now.If the team is able to deliver, I believe the InsureX platform can scale dramatically which is great for the long-term value of IXT. I see IXT as more of a high-risk-high-return type token.
This offer is based on information provided solely by the offeror and other publicly available information. The token sale or exchange event is entirely unrelated to ICOholder and ICOholder has no involvement in it (including any technical support or promotion). Token sales listed from persons that ICOholder has no relationship with are shown only to help customers keep track of the activity taking place within the overall token sector. This information is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice or carry out your own due diligence before taking, or refraining from, any action on the basis of the content on our site. Any terms and conditions entered into by contributors in respect of the acquisition of Tokens are between them and the issuer of the Token and ICOholder is not the seller of such Tokens. ICOholder has no legal responsibility for any representations made by third parties in respect of any Token sale and any claim for breach of contract must also be made directly against the Token issuing entity listed herein.
If you have any concerns about the nature, propriety or legality of this token sale or the persons involved in it please contact [email protected] with detailed information about your concerns.