BLACK INSURANCE
Digital Insurance Company In Blockchain
Black is a digital insurance company in the blockroom. Our platform connects insurance brokers directly with capital, allowing them to launch their own virtual insurance company. Thus, the removal of a trusted third party (insurance company) from the value chain. In the 1600s, Edward Lloyd runs a cafe in London, where traders, bankers and sailors come to do business. Lloyd is known for offering the best intelligence class on delivery, associated risks and other similar issues. This became a popular meeting place for two classes of people: those who wanted to insure their ships from serious damage, and others who were willing to risk and pay compensation when it happened. To insure potential garbage, the riskers begin to receive payments or bonuses. Modern insurance market, as we know it.
Black is here to make a difference.
Black will use the block chain to transfer risk directly from customers
(insured) to financial sponsors (black holders for syndicates):
Minimizing all inefficiencies.
Secure storage of all data in block-chains.
Transparent business operations using smart contracts.
Faster innovation for platform participants.
Black will decide the insurance industry. Black is an insurance platform, such as Lloyd's of London, on the blockade without the costs, delays and bureaucracies that we see today.
Black will use the block chain to transfer risk directly from customers
(insured) to financial sponsors (black holders for syndicates):
Minimizing all inefficiencies.
Secure storage of all data in block-chains.
Transparent business operations using smart contracts.
Faster innovation for platform participants.
Black will decide the insurance industry. Black is an insurance platform, such as Lloyd's of London, on the blockade without the costs, delays and bureaucracies that we see today.
Black Insurance will use two types of tokens:
Black platform token (BLCK)
BLCK provides the infrastructure, provides access to the platform and conducts voting on system platform updates (utility token). All users of the platform will use BLCK to manage insurance on the Black platform, and the demand for BLCK will increase as more insurance business is conducted on the platform.
Black Syndicate tokens (BST)
(issued when the platform is ready) BST is an investment in insurance capital, and for each syndicate (security token) a specific BST is created. The profit of the insurance portfolio for a particular syndicate will be transferred to the owners of BST,
Black platform token (BLCK)
BLCK provides the infrastructure, provides access to the platform and conducts voting on system platform updates (utility token). All users of the platform will use BLCK to manage insurance on the Black platform, and the demand for BLCK will increase as more insurance business is conducted on the platform.
Black Syndicate tokens (BST)
(issued when the platform is ready) BST is an investment in insurance capital, and for each syndicate (security token) a specific BST is created. The profit of the insurance portfolio for a particular syndicate will be transferred to the owners of BST,
Our solution
Black will become a licensed insurance company that provides insurance opportunities to agents, brokers and MGAs ("Brokers"), which enable them to create their own virtual insurance companies. Our ability goes without the traditional overhead of the insurance company when using blockchain as the main platform to get rid of centralized insurance companies.
We directly connect the idea with capital, replacing the parties that are not needed in the value chain with technology. We will do this through crowdfunding, as well as provide smaller investors. This more compact model gives more responsibility to insurance brokers and controls the products they sell. Insurers, as we know them today, simply trust the third party - blockchin gives us an alternative to this, and the need for insurers disappears.
Black will become a licensed insurance company that provides insurance opportunities to agents, brokers and MGAs ("Brokers"), which enable them to create their own virtual insurance companies. Our ability goes without the traditional overhead of the insurance company when using blockchain as the main platform to get rid of centralized insurance companies.
We directly connect the idea with capital, replacing the parties that are not needed in the value chain with technology. We will do this through crowdfunding, as well as provide smaller investors. This more compact model gives more responsibility to insurance brokers and controls the products they sell. Insurers, as we know them today, simply trust the third party - blockchin gives us an alternative to this, and the need for insurers disappears.
Price analysis
We analyzed data on listed insurance companies around the world. We will show that the costs that occur on standard insurance companies, which Black almost eliminated, are quite significant. We collected financial data from various international and Estonian insurance companies
between 2013 and 2016 years. Data show that administrative costs are quite high in the industry, so there is the possibility of reducing costs. It also becomes clear that the first insurance companies will first fall, since their administrative costs are relatively high in relation to their gross premiums.
Insurance companies have administrative costs and net profit from Gross Written Premium. The industry average is 20%. This is calculated by obtaining the average amount of data on administrator profits and net profit of insurance companies presented in this blog post.
Black collects royalties from users for using the platform for different actions. For example: syndicates finance an insurance product with capital. The Black Insurance fee will be% of GWP (gross written premium). Boards that must be paid for in BLCK tokens. The Black Foundation will sell markers on the market to cover operating costs: development, HR, admin, legal and marketing. The surplus of tokens will be kept in the reserve of the company in cases when costs are rising, and the use of the platform is lower.
We analyzed data on listed insurance companies around the world. We will show that the costs that occur on standard insurance companies, which Black almost eliminated, are quite significant. We collected financial data from various international and Estonian insurance companies
between 2013 and 2016 years. Data show that administrative costs are quite high in the industry, so there is the possibility of reducing costs. It also becomes clear that the first insurance companies will first fall, since their administrative costs are relatively high in relation to their gross premiums.
Insurance companies have administrative costs and net profit from Gross Written Premium. The industry average is 20%. This is calculated by obtaining the average amount of data on administrator profits and net profit of insurance companies presented in this blog post.
Black collects royalties from users for using the platform for different actions. For example: syndicates finance an insurance product with capital. The Black Insurance fee will be% of GWP (gross written premium). Boards that must be paid for in BLCK tokens. The Black Foundation will sell markers on the market to cover operating costs: development, HR, admin, legal and marketing. The surplus of tokens will be kept in the reserve of the company in cases when costs are rising, and the use of the platform is lower.
TOKEN
Black Insurance will use two types of tokens:
Black Platform Token (BLCK). BLCK empowers infrastructure, provides access to the platform and to vote on system updates to platforms (utility tokens). All platform users will use BLCK to manage insurance on the Black platform, and demand for BLCK will increase as more and more insurance businesses are done on the platform.
Black Insurance will use two types of tokens:
Black Platform Token (BLCK). BLCK empowers infrastructure, provides access to the platform and to vote on system updates to platforms (utility tokens). All platform users will use BLCK to manage insurance on the Black platform, and demand for BLCK will increase as more and more insurance businesses are done on the platform.
Black Syndicate Tokens (BST) (issued when the platform is ready). BST is an investment in insurance capital, and a special BST is created for each syndicate (security token), Profitability insurance portfolio for a particular syndicate will be forwarded to the holders of the BST.
FINANCING Black Insurance
Hard stamp $ 45 million
Use of Token funds & Distribution
Hard stamp $ 45 million
Use of Token funds & Distribution
ICO Structure
Distribusi Token
BONUS
ROADMAP
BONUS
ROADMAP
Team
The team consists of insurance industry veterans and blockchain experts. It is a great mix of inside
knowledge of the insurance industry, expertise on blockchain technology and the crypto space. Founders
have over 18 years of experience in insurance software and saw the pressing need for a solution
that would democratize the field through technology
The team consists of insurance industry veterans and blockchain experts. It is a great mix of inside
knowledge of the insurance industry, expertise on blockchain technology and the crypto space. Founders
have over 18 years of experience in insurance software and saw the pressing need for a solution
that would democratize the field through technology
Our team and advisors
RISTO ROSSAR
Risto is the founder of Black and his role is to develop the idea further including mentoring of all team members as well as finding cooperation partners for Black through his extensive network in insurance space.
BUNDEEP RANGAR
Bundeep is an entrepreneur with more than 21 years' experience in financial services, technology and media. He has invested in, advised or incubated a number of companies in the UK, Canada and India. He holds founding CEO roles in PremFina, IXL Holdings, and SME lending.
CHRIS WILLIAMS
Chris together with team of developers is building our product. He has worked as a Senior Solution Architect at insurance companies, AIG and MetLife. While working at IBM as a Blockchain Consultant, he has built private blockchain solutions for insurance companies.
MART PARVE
Mart makes sure that all operations run smoothly, so the entire team can most effectively contribute to Black's success. A life-long technology aficionado, he has managerial background in insurance technology and information security, and holds an MSc in Economics from the Catholic University of Leuven.
LIINA LAAS-BILLSON
Liina will make sure that the vision and growth of the Black Foundation is on track. Founding Member of the Board and General Manager of the Estonian Cryptocurrency Association and also worked with many blockchain FinTech startups on marketing and sales strategies, her mission is to revolutionise insurance through blockchain tech
MARTIN MÄGI
Martin is our hands-on product guy. Previously he has co-founded 2 startups and built more than 15 software products. He likes to design user interfaces and also write code
PEEP PAUM
Peep believes that the blockchain technology will eventually change the ways and logics how businesses operates today. He has been lucky enough to participate in various technology projects for almost ten years. Peep was one of the original co-founders startup called Indoor.Ninja and ICO campaign platform called CrowdCoinage
TRIINU MURUMÄE
Triinu is a skilled marketing manager with a good eye for growth. She takes care of all our marketing activities. She has more than 10 years experience in insurance technology as a business developer and being responsible for insurance startup marketing she has very good know-how how to succeed
RISTO ROSSAR
Risto is the founder of Black and his role is to develop the idea further including mentoring of all team members as well as finding cooperation partners for Black through his extensive network in insurance space.
BUNDEEP RANGAR
Bundeep is an entrepreneur with more than 21 years' experience in financial services, technology and media. He has invested in, advised or incubated a number of companies in the UK, Canada and India. He holds founding CEO roles in PremFina, IXL Holdings, and SME lending.
CHRIS WILLIAMS
Chris together with team of developers is building our product. He has worked as a Senior Solution Architect at insurance companies, AIG and MetLife. While working at IBM as a Blockchain Consultant, he has built private blockchain solutions for insurance companies.
MART PARVE
Mart makes sure that all operations run smoothly, so the entire team can most effectively contribute to Black's success. A life-long technology aficionado, he has managerial background in insurance technology and information security, and holds an MSc in Economics from the Catholic University of Leuven.
LIINA LAAS-BILLSON
Liina will make sure that the vision and growth of the Black Foundation is on track. Founding Member of the Board and General Manager of the Estonian Cryptocurrency Association and also worked with many blockchain FinTech startups on marketing and sales strategies, her mission is to revolutionise insurance through blockchain tech
MARTIN MÄGI
Martin is our hands-on product guy. Previously he has co-founded 2 startups and built more than 15 software products. He likes to design user interfaces and also write code
PEEP PAUM
Peep believes that the blockchain technology will eventually change the ways and logics how businesses operates today. He has been lucky enough to participate in various technology projects for almost ten years. Peep was one of the original co-founders startup called Indoor.Ninja and ICO campaign platform called CrowdCoinage
TRIINU MURUMÄE
Triinu is a skilled marketing manager with a good eye for growth. She takes care of all our marketing activities. She has more than 10 years experience in insurance technology as a business developer and being responsible for insurance startup marketing she has very good know-how how to succeed
Advisors
BUU TRUONG
Buu is an experienced non-life actuary and a Fellow of the Institute and Faculty of Actuaries (IFoA). He is Managing Director of Insight Risk Consulting which is a firm which he founded 5 years ago. Buu and his team are advising Black on actuarial models and risks.
TAAVI KOTKA
Awarded as Europe’s best CIO by ICT Spring and being the leader of Estonian government digitalization Taavi advises us on strategy as well as uses his extensive network to leverage Black business. Taavi is also selected as Entrepreneur of the Year in Estonia 2011 (by Ernst&Young)
ANDO KIVILAID
Ando has worked whole life in insurance and IT business and is very big blockchain and cryptocurrency enthusiast. Ando is advising us on product development and strategy.
ALEX NORTA
Alexander Norta is one of the leading experts in the field of smart-contract technology. He has a wide range of expertise in fields such as business-process collaboration, workflow management, e-business transactions, service-oriented computing, software architectures, software engineering, ontologies, social web, multi-agent systems, and so on. Norta has written several high-profile whitepapers and advised successful blockchain-tech startups like Qtum, Cashaa, Cedex and NEO
KRISTIAN GARANCIS
Kristian has over 20 years of experience in Non-Life Reinsurance and Insurance as well as Captive Insurance. He is also very familiar with Maltese legal and insurance structure being also the resident of Malta himself. Kristian advises us on insurance and re-insurance related topics as well as helps with licensing our insurance company in Malta. He has also many connections with brokers who are interested to use Black capacity when we go live
STEFAN BEYER
Dr. Stefan Beyer is a Blockchain architect and smart contract security expert. He graduated from the University of Manchester in 2001 with a degree in Computer Science and obtained a Ph.D. in 2004 from the same university. Since then he has worked in computer science research in distributed systems, fault tolerance, ubiquitous computing, and cybersecurity. He is currently working as head of research and development for cybersecurity company in Spain. He is also a member of the European Unions Blockchain Observatory's Blockchain Policy and Framework Conditions Working Group.
BUU TRUONG
Buu is an experienced non-life actuary and a Fellow of the Institute and Faculty of Actuaries (IFoA). He is Managing Director of Insight Risk Consulting which is a firm which he founded 5 years ago. Buu and his team are advising Black on actuarial models and risks.
TAAVI KOTKA
Awarded as Europe’s best CIO by ICT Spring and being the leader of Estonian government digitalization Taavi advises us on strategy as well as uses his extensive network to leverage Black business. Taavi is also selected as Entrepreneur of the Year in Estonia 2011 (by Ernst&Young)
ANDO KIVILAID
Ando has worked whole life in insurance and IT business and is very big blockchain and cryptocurrency enthusiast. Ando is advising us on product development and strategy.
ALEX NORTA
Alexander Norta is one of the leading experts in the field of smart-contract technology. He has a wide range of expertise in fields such as business-process collaboration, workflow management, e-business transactions, service-oriented computing, software architectures, software engineering, ontologies, social web, multi-agent systems, and so on. Norta has written several high-profile whitepapers and advised successful blockchain-tech startups like Qtum, Cashaa, Cedex and NEO
KRISTIAN GARANCIS
Kristian has over 20 years of experience in Non-Life Reinsurance and Insurance as well as Captive Insurance. He is also very familiar with Maltese legal and insurance structure being also the resident of Malta himself. Kristian advises us on insurance and re-insurance related topics as well as helps with licensing our insurance company in Malta. He has also many connections with brokers who are interested to use Black capacity when we go live
STEFAN BEYER
Dr. Stefan Beyer is a Blockchain architect and smart contract security expert. He graduated from the University of Manchester in 2001 with a degree in Computer Science and obtained a Ph.D. in 2004 from the same university. Since then he has worked in computer science research in distributed systems, fault tolerance, ubiquitous computing, and cybersecurity. He is currently working as head of research and development for cybersecurity company in Spain. He is also a member of the European Unions Blockchain Observatory's Blockchain Policy and Framework Conditions Working Group.
For More Information:
Website: https://www.black.insure/
Twitter: https://twitter.com/BlackInsure
Facebook: https://www.facebook.com/blackinsure
Telegram: https://t.me/blackinsurebot
Bitcointalk: https://bitcointalk.org/index.php?topic=3379115.0
Author: vespa panjang
MyEthAddress: 0x73d704F72440F0dDA507ADb95C22c2901bDB134B
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