Insurance industry is full of irregularities.
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.
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.
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.
IPL token crowdsale
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.
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.