InsCoin Technology for Insurance Company

Insurance is one of the most important industries and can be considered as part of the growth of modern business, which has become a decisive society throughout the world. But insurance is not without problems and shortcomings. According to the FBI study, the annual loss of insurance fraud amounts to about $ 40 billion.

KNOX Company is the first insurance company to combine digital with the real world. Using Blockchain technology, the most effective and powerful structure in this segment is created to solve problems with certification and exclude fake insurance policies. An insurance policy issued by Knox, there will be a traditional paper form and in the form of Intelligent Contracts, which allows customers to control their policies in real-time, in complete security and transparency. Thanks to the site, developed by Knox insurance company, the policy will be developed to be fully automated and exclude the possibility of conflict of interest between the parties involved.

Insurance companies will be established in Lisbon, Dubai and the Bermuda Islands to enable KNOX insurance to operate in different legislative acts and resolve the symbolic economy on a global scale.

The KNOX project provides for the establishment of the first insurance company that will merge the real world with the digital one using Blockchain technology, creating the most e cient and advanced structure in the sector, to find a solution to the problem of certification and anti-forgery of insurance policies.

The Goals of Knox:

With the smart contract the spread of false insurance policies is avoided because it is the same system that issues them after receiving the payment.
With the smart contract the company won't have delay in collecting credits, as the policy is issued only after receiving the payment. This factor aims to significantly improve the management of the company itself.
With the smart contract in the event of accidents the real judge who will decide whether or not to pay them is no longer the company, which could have an opportunistic behavior, but the block-chain system will decide if this accident is compliant with the provisions in the policy. This benefit will be the most important as it will increase the transparency of the company towards customers.

How did works ?

The new project is currently in development and used for the Knox Project ICO. And the entire project is developed to help improve customer relationships with total and full transparency. There is a lot going on with the new company, and there is quite a bit of information on the company website. Not only that, but the information on the website is broken up into several different sections, all which are easy to navigate through and provide you with everything you need to learn about the coin.

The project has several different areas as said before. The first of which is the summary of the Insacoin project. And not only that, but the White Paper is also available too and full of information that is required to teach you about the project and everything going on in it.

Deflation Plan