Vernam

Good and strong team
Interesting idea
Wish you good luck

Promising project with a good team and detailed WP

There are a lot of centralized web services that have comprehensive information on the offers of all insurance companies available in a particular region. They do not need a blockchain - they make excellent money on advertising.

What is Vernam going to add to them?

great team. great advisory board best of luck team

The team may need a stronger international Asia and US experienced team for growth. Technology product success is based on client acquisition and I want to be convinced this team can handle non-Russian speaking jurisdictions.

Good team but suspicious Advisory board.
Despite the obvious blockchain necessity insurance market is extremely traditional and very close to new players. I'm not sure Vernam could be the new one
Besides, Bujgaria sounds weird... (Thnx one coin for that..)

Insurtech definitely a favoured niche, plenty of competitors coming through so needs to stand out more.

Beyond infrastructure projects, insurance is an example of a strong use case for the blockchain. I like their plan and approach and if they are able to execute this could be a successful project.

In my opinion,
Until you correct the copy paste issue, I have to rate it no higher than a 1.
I would like to thank you for your response. My reply is the following...
1) You mention the word "life insurance" several times throughout the white paper for instance:
"In a survey, by the British Bankers’ Association from 2014, life insurance and pension cus- tomers across the United Kingdom" ; "The first company to offer life insurance was the Amicable Society for a Perpetual Assur-ance Office, founded in London in 1706." ; "While insurance companies proliferated (by 1820 there were 17 stock life insurance companies in New York state alone)" ; "Almost 50% of US life insurers disappeared between 1873 and 1877." ; "In a life insurance contract, the insurance company pays to a designated beneficiary in case of the death of the insured person (typically the policy holder). " I do see where you mention that your business model is based on the disruption of non-life, but you mentioned "life" several times throughout the paper so this is why I asked.
2) This is fine, "universal or term insurance' refers to life insurance so you cleared that up for me. I wasn't referring to mediation.
3) I would suggest to always use multiple references when researching/writing using myriad of articles.
As a side note, Wikipedia says ...
'anyone can click "edit" at any time and add stuff in, any article may contain undetected misinformation, errors, or vandalism.' "Wikipedia is written collaboratively by largely anonymous volunteers who write without pay. Anyone with Internet access can write and make changes to Wikipedia articles, except in limited cases where editing is restricted to prevent disruption or vandalism. Users can contribute anonymously, under a pseudonym, or, if they choose to, with their real identity." https://en.wikipedia.org/wiki/Wikipedia:About
So I would just suggest to be careful. I do like your concept, and hope that you find success in your business venture. I think you have some really good advisors on the team, I look forward to seeing the development of this project and good luck!
___________________________
In my opinion,
I am not trying to be too tough, however, I would like to see your company succeed, but I think there is a lot of work to be done... your white paper is too similar to wiki. Could you please explain?
I am just giving constructive feedback, hope you take it this way, and if you could correct some of these issues then I will more than be willing to update my rating. I looked all over your white paper and couldn't figure out, maybe I missed it? I do see that you mention life insurance, but you mention 20-30% commissions, is this from universal or term policies? I did a search for these terms, but didn't see that you wrote anything about this.
Life insurance is the number 1 industry for AML, and the first line of defense is the agent, how will you overcome this?
I am also in insurance, but I am confused on what kind of insurance you do? Life, health, auto, reinsurance etc?
As of right now, I think your project is too general, considering that insurance is such a huge industry and you can't take it all on at once, which angle will you seek first?
I understand that its ok for SEO purposes to rewrite articles, I get it, but generally speaking its not a good thing to use Wikipedia as a reference tool, nor rewrite it.
https://en.wikipedia.org/wiki/History_of_insurance
"The first methods of transferring or distributing risk in a monetary economy, were practised by Chinese and Babylonian traders in the 3rd and 2nd millennia BC, respectively.[1] Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel's capsizing. The Babylonians developed a system that was recorded in the famous Code of Hammurabi, c. 1750 BC, and practised by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the lender's guarantee to cancel the loan should the shipment be stolen or lost at sea."
Your white paper says (page8):
"What is the origin of the insurance industry? The earliest known examples of property insurance date from ancient China and Babylon. In the 3 millennium
B.C. Chinese merchants would redistribute their goods, when sailing through dangerous river rapids, to minimize losses against a vessel sinking. The Babylonians advanced insurance further. The famous Code of Hammurabi (c. 1750 BC) mentions how merchants, financing their business through loans, would pay their lenders an additional sum, against a guarantee that the loan would be cancelled, should the shipment be stolen, or lost at sea."

*Please see my profile for disclosures.

The insurance industry looks to be the next big beneficiary of blockchain technology, and here we can see interesting project that want a bite from that sector in EU. We already witness major players like Generali, LiberyMutual, etc trying to keep up with the technology.

Vernam will serve as platform for the market, trying to cut the middleman – brokers. They go further with adopting some of the core ideas behind blockchain technology, creating very own product on top of that – CryptoSafe.

We see good team in their website, including top advisors from community. Lets see how it will go here...

Team:
Experienced Executive team from a general business perspective
Of note, CEO spent 3 years prior to blockchain on digitization of business process (good sign)

Facets to explore:
Team talent that has Insurance and Finance experience does not seem to be on full time or directly involved with the company.
Don’t see a CFO, which I would expect for a raise of this magnitude

Vision:
Exciting space to innovate in and a lot of room to disrupt a very large asset base market that is also inefficient (key target market)
Whitepaper went into a fair amount of diligence on the space

Product and Tokenomics:
Ease of use for consumers will be one big success criteria here

Facets to explore:
May be a very tough market to penetrate, so the raise on a token that will also perform the utility for this business may have a long speculative bridge to cross.
~$375M USD raise is reasonable for the market they are trying to tackle, but raising it in one lump sum is questionable, this tends to lead to distract execution would prefer to have seen phased smaller raises.

Notice: I do not provide investment advice. Please see my profile for important disclosures.

Yet another Whitepaper-only ICO - when the team has not worked and has not tested anything on the market yet as a product / idea and have no validation from potential customers on the customer/business side, it is a bad sign. I hope they recover from this lapse and start working on a product instead of focusing on marketing / whitepaper only.

Good vision & strong team. Wish you the best luck to conduct your product!

The whitepaper and presentation need work. In any industry, using technology to cut out all middlemen is, of course, a great idea, which is why Vernam has so many direct competitors. I don't specifically see what makes this company stand out when compared to the rest. Commissions exists for a reason. Commissions inspire marketing. Also, consumers pay for help to understand a product. Replacing a human salesforce is easier said than done. On the other hand, the insurance industry is a perfect candidate for blockchain tech, so I wish this company the best of luck.