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InsurePal
Distributed social proof insurance
InsurePal is a next generation of peer-to-peer insurance based on social proof endorsements, fully harnessing the power of blockchain innovation. The platform will serve as a replacement for insurances as we know today and offer a completely new type of coverage for areas of life and business that began to emerge with the evolution of blockchain, starting with the insurance of blockchain business transactions. The innovative approach has been filed for patent protection in US and worldwide. Social proof is an in-built mechanism within all of us, representing people`s moral compass. InsurePal embeds social proof in form of financial commitment. The endorser who financially guarantees for someone has to use its own diligence when providing the guarantee to at the risk of losing their money. Through such endorsements, the network in whole becomes more risk aware. The platform will work as an dAPP for B2C customers and as a service for B2B partners that will resell social proof insurance by using InsurePal solution.
Join us in a venture in what is to bring a complete change to the insurance as we know today!
SOCIAL PROOF PATENT We’ve successfully reinvented the social proof methodology for insurance industry. The approach has been filed for patent protection in the US and worldwide.
SCALABILITY Insurance is a $7 trillion global market. By becoming an early adopter of blockchain technology, InsurePal can gain an important advantage.
INDUSTRY KNOW-HOW InsurePal team combines best of both worlds – industry professionals with years of experience and dedicated blockchain experts with a track-record of successful crypto projects.
INSUREPAL (IPL) TOKEN IPL token will be the fuel of InsurePal platform, used by clients and 3rd-parties worldwide. The platform will use different means to incentivize participants and make the tokens available to a broad audience.
SELF-REGULATION Our business model allows self-regulation without the need of a central institution. As the risk-prone individuals will be automatically excluded, InsurePal can offer significant cost reductions.
SOCIAL IMPACT InsurePal motivates groups for a change to better. We’re creating a complete switch in paradigm and growing a global community that shares a common value of reciprocity.
Insurance of tomorrow InsurePal aims to become a first-of-a-kind blockchain-based decentralized insurance platform powered by social proof guarantee. InsurePal is a next generation of peer-to-peer insurance based on social proof endorsements, fully harnessing the power of blockchain innovation. It will serve as a replacement for insurances as we know and offer a completely new type of coverage for areas of life and business that began to emerge with the evolution of blockchain and transactions being carried out on the distributed ledger.
The science of social proof Social proof is a natural, in-built mechanism within all of us, representing people`s moral compass. In other words, people reference the behavior of others to guide their own behavior. InsurePal embeds social proof in a form of financial commitment. The endorser who financially guarantees for someone has to use its own due diligence when providing the guarantee to at the risk of losing their money. Through such endorsements and guarantees, the network in whole becomes more risk aware, consequently inducing a change of people’s behavior.
Worldwide patent This is the first time we have successfully reinvented the social proof for insurance industry. The innovative approach has been filed for patent protection in US and worldwide. Insurance play a vital role in society and its proper function is imperative. To prevent unfair competition, it is at large subjected to tight regulation and unified standards. For that, we make it our imperative that InsurePal abides with all the regulatory requirements. This way our policyholders can always rely they are safe and covered.
Ratings
All ratings published on ICObench serve informational purposes only. ICObench does not provide investment forecast, recommendations or any consulting for that matter. Thus, neither ICObench, nor the experts can be hold responsible for the visitors’ investment decisions. Read more
Investment Manager, Pre-ICO Venture Capital Investor, ICO Advisor Rated on Jan 3, 2018
5
5
3
6%
1. Excellent Team
2. Clean legal structure
3. Large Market potential
4. Only the use cases don't make perfect sense to me, bringing your friends into a business relation with yourself whose successs is dependable on your behaviour might be difficult (User Case 1).
CMO at OriginTrail, First Purpose-built Protocol for Supply Chains Based on Blockchain (22.5 mm raised) Rated on Dec 19, 2017
5
5
4
4%
Great team with a lot of experience in Insurtech and blockchain. Great diversity in the team as well. A challenging vision, but they are making the right moves to make it happen. Would be great to see a working prototype of their app.
Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.
Ratings and ICO analyzer results are being updated (re-calculated) every few hours.
Founders identify the science of social proof as a solution and invest close to $500.000 to develop the social proof model and web app demo.
Calibrated mathematical algorithms confirm the model brings from 30% and up to 70% cost reduction.
2
2016 US & worldwide patent
Social proof insurance patent protection is filed in US and worldwide. Founders pitch the idea in Silicon Valley but refuse several million offer to be able to develop InsurePal on their own terms.
The methodology, viability assessment and a legal review of the project are developed. Blockchain is identified as the missing piece. Several meetings with crypto think-tanks occur. InsurePal core team is assembled.
3
2017 Core team & ICO preparation
InsurePal enters in partnership with Netis Group and expands the team with several blockchain and IT experts.
The architectural design of the InsurePal platform and its functionalities begins. Parallelly, the extensive preparations for ICO go about.
4
16 January
IPL token crowdsale
5
2018 Platform launch & extended blockchain features integration
The development of InsurePal platform core begins. First social proof modules are ready to be used. PR & Marketing campaign launches.
We obtain MGA insurance license for UK market and start with UK pilot project. Platform is further developed and new social proof modules are integrated, ready to be used by third-parties. Extensive legal and regulatory preparations to obtain the EU passport license begin.
6
2019 and on Global expansion & B2B partnerships growth
Additional functionalities are implemented. Partnerships with interested third-parties are further promoted. Implementation of claims community handling model begins. All InsurePal activities are promoted on a global scale.
InsurePal platform to become a “to-go” global social proof insurance.
