Black Insurance


Hello friend greetings and meet again with me, hopefully all of you in good health are always and happy today on this occasion I am here to introduce a project where projec is very good and develops fast especially when in the modern era balancing the growth of the digital era.

 hopefully with the presence of the BLACK INSURANCE project can be useful as well as a reference in making decisions, let's support this project.

Black is a digital insurance company on blockchain. Our platform connects insurance brokers directly with capital that allows them to launch their own virtual insurance companies. Thus moving a trusted third party (Insurance Company) from the value chain. In the 1600s, Edward Lloyd ran a coffee shop in London where traders, bankers and sailors came to do business. Lloyd is known for offering the best intelligence classes for delivery, related risks, and other similar things. This is a popular place for two classes of people to meet: those who want to insure their ships from major damage, and others, who are willing to take risks and pay compensation when that happens. To ensure potential debris, risk takers start receiving payments, or premiums. Modern insurance market, as we know it.
Black is here to make a difference.

Black will use blockchain to transfer risk directly from clients
(Insured) to financial supporters (holders of Black Syndicate Tokens):
  • Minimize all inefficiencies.
  • Save all data securely on blockchain.
  • Transparent business operations using smart contracts.
  • Faster innovation by platform members.
  • Black will fundamentally improve the insurance industry. Black is an insurance platform like Lloyds of London on the blockchain without the fees, delays and bureaucracy that we witness today.
Black Insurance will use two types of tokens:
Black Platform Token (BLCK)

BLCK empowers infrastructure, provides access to platforms 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 insurance businesses are carried out on the platform.

Black Syndicate Token (BST)

(issued when the platform is ready) BST is an investment in insurance capital, and a special BST is made for each syndicate (security token), the insurance portfolio profitability for certain syndicates will be forwarded to the holder.

Our solution

Black will become a licensed insurance company that provides insurance capacity to Agents, Brokers and MGA (hereinafter referred to as "Brokers") which allows them to launch their own virtual insurance companies. Our capacity comes without the traditional costs of insurance companies while using blockchain as the main platform to get rid of centralized insurance companies.
We connect the idea to capital directly, replacing those that are not needed in the value chain with technology. We will do this through crowdfunding, also giving investors smaller access points. This slimmer model gives insurance brokers more responsibility and control over the products they sell. The insurer as we know it today is only a trusted third party - the blockchain gives us an alternative to that and the need for insurance companies to disappear.

Cost analysis

We have conducted data analysis on insurance companies registered worldwide. We will show that the costs incurred for the standard insurance company that Black almost eliminated, were quite significant. We have collected financial data from various international and Estonian insurance companies
between 2013 and 2016. Data shows that administrative costs are quite high in the industry, so there is a lot of cost cutting. It also became clear that smaller insurance companies would be the first to fall, because their administrative costs were relatively high against their gross written premiums.
Insurance companies have fees for admin expenses and net income from Gross Written Premium. The industry average is 20%. This is calculated by taking the average amount from the admin and the net profit margin data from the insurance company provided in this blog post.

Black collects fees from users because it uses a platform for various actions. For example: syndicates fund insurance products with capital. The Black Insurance Fee will be% of the GWP (Gross Written Premium). Costs to be paid in BLCK tokens. The Black Foundation will sell tokens on the market to cover operating costs: Development, HR, admin, law & marketing. Excess tokens will be stored in company reserves for opportunities when costs increase and platform usage is lower.

Token Distribution
  • Token Name: Black Platform Token
  • Token Symbol: BLCK
  • Soft Cap: US $ 2,000,000
  • Hard Cap: US $ 45,000,000
  • Maximum inventory assuming that all tokens are sold at maximum discount: 471,082,089
ICO Structure:
  • Early Pre-Sales - 7/31/2018
  • Pre-Sales Period - 30
  • Pre-Sale Cap - $ 15,000,000.00
  • Pre-Sales Conditions - First week bonus 25% and after the first week 20% bonus
  • Start Selling Tokens - 8/31/2018
  • Token Sales Period - 30 days
  • Soft Cap - $ 2,000,000.00
  • Hard Cap - $ 45,000,000.00
  • Token Symbol - BLCK
  • Total Tokens - 471,082,090
  • Exchange Rates - 1BLCK = 0.2 USD
  • Minimum Purchase - $ 100.00
  • Cryptos received - BTC, LTC, ETH
Adjustments - Distributed tokens will be destroyed by token contracts.
Listing - BLCK tokens will be registered on crypto exchanges
Token Holder Benefits - BLCK can be used to pay for services on the Black platform. Black will guarantee that until 1 January 2021 the service fees paid by BLCK will be at least 20% cheaper than the service fees paid in other currencies.
Trade Token Restrictions - Only Teams and Advisers have locked storage and sales periods

Our Roadmap

Oct - Nov, 2017 Ideas and teams are organized.
Nov, 2017 The product concept is ready.
December, 2017 Seed Financing.
May, 2018 MVP Launched.
Summer, 2018 general sales ICO.
December, 2018 Platform is launched.
Summer, 2019 EU license.

Team

This team consists of insurance industry veterans and blockchain experts. This is a great blend of deep knowledge about the insurance industry, expertise in blockchain technology and crypto space. The founder has more than 18 years of experience in insurance software and sees the urgent need for solutions that will democratize the field through technology.

For more information :

Author: the gaye
My Eth: 0x820410Ee0a97e9132aDDBb77c3f35bb3e5115d1e

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