In today’s world, insurance companies are accommodating irresponsible clients that prove to be costly for the companies. In a twist of events, the InsurePal is a next-generation P2P insurance platform based on blockchain innovation and social proof endorsements. The platform connects diligent individuals and helps them with their mutual insurance. The company thinks of the blockchain as an ideal architecture for the innovation and complete switch of the insurance industry. The aims of the InsurePal is to simplify the business process for many people and build a highly customer-centric product designed for benefiting diligent individuals.
Key feature of InsurePal
- Social proof patent: InsurePal has successfully reinvented social proof methodology for the insurance industry. The approach is filed for patent protection worldwide.
- Scalability: InsurePal is an early adopter of InsurePal. This gives it an added advantage over other platforms.
- Self-regulation: The InsurePal business model allows users to regulate their accounts without the need for a central institution. Risk-prone individuals are automatically excluded.
- Social impact: InsurePal is creating a complete switch in paradigm and a growing community that shares a common value.
B2C: InsurePal provides a customer-centric experience that allows users to navigate through and obtain the most favorable premium via dApp.
B2B: for B2B, InsurePal acts as a global platform that provides various social proof insurance modules. Third-parties are able to use the platform for a predetermined fee.
InsurePal token (IPL)
IPL token is the token that powers the InsurePal platform. It can be used by clients and third-parties worldwide. The platform will use various means to make the tokens available to the audience and to incentivize participants
The InsurePal crowdsale is set for 16 January 2018. The crowdsale will last for a period of 21 days with a softcap of $5 million and hardcap of $18 million. A total of 201 million IPL tokens will be distributed during the crowdsale and an overall of 300 million tokens will be available. I IPL will be equivalent to $0.10.
The hard cap was reached in 80 seconds.
InsurePal IPL token can be used for the following causes:
- As an insurance of blockchain business transactions
- As an upfront incentive
- As an insurance premium discount
- As social proof score and credit score
- As social proof identity
- For claims adjustments
The InsurePal team
The team behind InsurePal combines best of industry professionals with years of experience and experts dedicated to blockchain technology. The team is led by CEO and Co-founder Matt Peterman and Tom Volk also a co-founder. It also includes an executive managing team led by CIO Thomas Manson.