La rete di PolicyPal è una piattaforma costruita con una duplice visione di affrontare i problemi chiave che si sovrappongono ai campi dell'assicurazione e dei criptoasset nel mondo di oggi.
Attenzione. C'è il rischio che i membri non verificati non siano effettivamente membri del team
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Opportunities:Having founded PolicyPal, the team has great connections in the Asian insurance industry and has proven their capability and innovation in the space. With a highly relevant track record under their belt, it is much easier to grow PolicyPal Network into a success.Security is a huge concern for both individual and institutions in the cryptocurrency space. CryptoProtect is an insurance product targeting this problem and should have quick adoption because its target users are those already familiar with cryptocurrency.The penetration rate for insurance is still very low for Southeast Asia compared to other regions. With PolicyPal Network’s offerings, the unbanked will have a much easier time signing up for insurance products and the potential is substantial.The team has been very active in promoting the awareness of their project. They have recently completed a speaking tour in Asia.
Concerns:As with any project developing their own blockchain, the development timeline is uncertain with delays being common. The release of the PolicyPal blockchain on the Ethereum mainnet is scheduled for in Q3 2018 but it could be delayed.Although PolicyPal is a running company, PolicyPal Network itself does not yet have an alpha or prototype.
Conclusion:Overall, we like both the short- and long-term potential of this ICO. Our thoughts of the tokens for short term and long term are as follows:For short-term holding:Good. The idea, team, progress, token metrics, and market awareness are all above average. With only 6,000 ether being sold in the crowdsale, we believe there will be unmet demand for the tokens.For long-term holding:Good. The team has a successful track record in the Asian insurance industry and is looking to replicate their success with PolicyPal Network. They already have the connections and network to expand beyond Singapore and we believe they have a good shot to be successful. The Asian insurance industry is rapidly growing and the upside potential is substantial.
SummaryOverall, PolicyPal is a good ICO, but it needs further explanation. It has a good vision, but there are a few gaps that are left out in its white paper. We’ll have to see how it performs to see if their team follows their promises.Positives Insurance Policy: PolicyPal’s insurance policies are protected by Ethereum’s blockchain technology. This makes it easier for your cryptoassets to stay protected from third parties and hackers. Parent Company: Its parent company already has a physical location in Singapore and has a consumer base of 32,000 people. User Incentive: You can gain PYPL tokens to protect your assets. Users are incentivized on this platform by validating others transactions and making sure they’re legitimate. Negatives Legal Issues: How will PolicyPal abide by local laws within each country? We would like to see further explanations on their legal issues. No MVP: We were expecting an MVP with this product. Since it doesn’t have one, users are left confused as to how this project actually works. Vague Claims: PolicyPal’s whitepaper can be confusing for people to read and their claims aren’t clear.
There is no even alpha version of the blockchain product. Roadmap is extremely ambitious, within 1 year almost everything have to be done.
Blockchain for this project is crucial technology. There is almost no other way to organize p2p insurance underwriting, especially for c2b model. Blockchain provide substantial cost benefits for this model and in fact could make insurance affordable for unbanked people and organizations in Asia. As a result, in best case project could become a market leader in this field. Also, insurance industry is conservative, as a result, we not expect expansion of huge top-tier companies on this segment of the market. This mean, that market competition in this segment would be small. At the same time, blockchain does not help first product line at all. In fact, it would be usual insurance product with crypto assets as a basis asset. Moreover, PolicyPal Network would be insurance broker on that market, as a result, there is no need for tokens at that segment.
First of all, project has adequate goals for fundraising. It could be compared even to VC valuation. Moreover, project raised an undisclosed seed funding from 500 Startups and a cohort of undisclosed angel investors 17,809 ETH worth at the closed pre-sale stage. In fact, only 6000 ETH is available for public sale. The financial model was not presented in this project, however, it is clear, that project would be partially insurance broker and p2p platform. Both of these models assumes earning commission from the operations at the platform. However, we would say, that first product is b2c and b2b, second product is c2b.
Founders have great, but mostly corporate experience.
Being an insurance broker in Singapore, PolicyPal has partnerships with such global insurance companies as AIG, Allianz, Income, Etiqa, and many more and currently has 32,000 users in Singapore. The project was one out of three startups selected by PayPal for their nine-month incubation program Singapore. One more their achievement is top 10 out of 400 startups selected by Startupbootcamp Fintech Singapore. The disadvantages are quite common for many ICO projects – unclear roadmap and the product which is not ready yet. Anyway PolicyPal Network has positive perspective.PolicyPal Network is a solution aiming to bring insurance into two new spheres – cryptocurrency assets and emerging Asian markets for those who couldn’t afford insurance ever before.
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