The world’s first Blockchain-based insurance marketplace, InsureX, is set to launch an ICO in July 2017 in a bid to raise at least 2200 ETH. The first in a large number of token sales set to launch in the next few weeks, London-headquartered InsureX intends to use the funds to create a trading platform specifically for insurance products.
“Blockchain technology presents an exciting opportunity to disrupt the insurance industry,” CEO Ingemar Svensson said in a press release Thursday. Citing Allianz insurance data, he continued: “Preliminary estimates are that gross written premiums generated by insurers contribute 3.5 trillion or 5.7 percent of the global GDP - that is a massive opportunity.”
Read more here: https://cointelegraph.com/news/worlds-first-blockchain-insurance-marketplace-to-launch-ambitious-ico
ICO's popping every second. Good motive in this one though.
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good work voted
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How are insurance products going to be traded? I find this one hard to envision if it is targeting gross profits from insurance companies. Most companies must keep their premium allocated to accounts heavily regulated... mostly regarding the life insurance policy premiums. Though this is the bread and butter of all insurance companies, and they like to keep it to themselves.
Most insurance companies run their own mutual funds with these proceeds and earn their money and interest there. Upvoted and following to see how this plays out. cheers
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This so reminds me of the .com boom. I'm so glad that some mant people are contributing to this technology. It can only get better from here. Let's make it happen people! Feed the blockchains!
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Any system we might have outside the blockchain will be replicated within the blockchain. Get ready for Uber within blockchain, google maps, etc...
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