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Black Insurance ICO

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Black could be a digital insurer in blockchain. Our platform connects insurance brokers directly with capital permitting them to launch their own virtual insurer. Thereby removing a trustworthy  third party (Insurance Company) from the worth chain. within the 1600s, Edward thespian runs a coffeehouse in London wherever merchants, bankers, and sailors return to try to to business. thespian is thought for providing the simplest category of intelligence on shipping, connected risks, and different similar matters. It became a preferred place for 2 categories of individuals to meet: people who needed to insure their ships from major harm, and others, World Health Organization were willing to require the danger and pay compensation once it happened. To insure potential detritus, risk takers begin to receive payments, or premiums. the fashionable insurance market, as we all know it.

Black is here to create a distinction

Black can use the blockchain to transfer risk directly from shoppers
(insureds) to monetary backers (Black Syndicate Token holders):

Minimizing all inefficiencies.
Storing all information firmly in blockchains.
Transparent business operations victimisation sensible contracts.
Faster innovation by platform members.
Black can fix the insurance trade essentially. Black is associate insurance platform like Lloyds of London on blockchain while not the expense, delays and forms that we have a tendency to witness these days.

Black Insurance can use 2 styles of tokens :


Black Platform Token (BLCK)
BLCK powers the infrastructure, providing access to the platform and for conducting vote on system updates to the platform (utility token). All platform users can use BLCK for managing insurance on the Black platform, and demand for BLCK can increase as additional insurance business is conducted on the platform.

Black Syndicate Tokens (BST)
(issued once the platform is ready) BST is associate investment in insurance capital, and a selected BST is formed for every syndicate (security token), The profit of the insurance portfolio for a selected syndicate can pass-through to the holders of it’s BST.

Our answer


Black are going to be a commissioned insurer that gives insurance capability to Agents, Brokers and MGAs (hereinafter “Brokers”) facultative them to launch their own virtual insurance firms. Our capability comes while not the standard overheads of insurer whereas victimisation blockchain as main platform to induce eliminate centralized insurance firms.

We connect the thought to the capital directly, substitution the parties that aren't required within the worth chain with technology. we'll try this through crowdfunding, conjointly giving smaller investors how in. This throw model offers additional responsibilities to insurance brokers and management over the product they're commerce. Insurers as we all know them these days ar merely a trustworthy  third party – blockchain offers U.S.A. an alternate to it and also the want for insurers disappears.

Cost Analysis


We’ve done associate analysis regarding information on the listed insurance firms across the globe. we'll show that the prices that occur for normal insurance firms that Black would nearly eliminate, ar quite important. we've got gathered monetary information from varied international and Estonian insurance firms

between 2013 and 2016. the information shows that body expenses ar quite high within the trade, so there's a great deal of cut attainable. It conjointly becomes clear that smaller insurance firms would be 1st to fall, as their body expenses ar comparatively high to their gross written premiums.

Insurance firms have prices for admin expenses and profit of Gross Written Premium. The trade average is 2 hundredth. this can be calculated by taking the typical add of the admin and profit margins information of insurance firms provided during this journal post.

Black collects fees from users for victimisation the platform for various actions. For example: syndicates fund associate insurance product with capital. Black Insurance’s fee are going to be a zipper of the GWP (Gross Written Premium). Fees to be paid in BLCK tokens. Black Foundation can sell the tokens on the market to hide prices of operation: Development, HR, admin, legal . A surplus of tokens are going to be unbroken within the company reserve for occasions once prices rise and use of the platform is lower.


Roadmap


Pre-Sale Starts – 7/31/2018
Pre-Sale Period – 30
Pre-Sale Cap – $15,000,000.00
Pre-Sale Terms – First week 25% bonus and after first week 20% bonus
Token Sale Starts – 8/31/2018
Token Sale Period – 30 days
Soft Cap – $2,000,000.00
Hard Cap – $45,000,000.00
Token Symbol – BLCK
Total Number of Tokens – 471,082,090
Exchange Rate – 1BLCK = 0.2 USD
Minimum Purchase – $100.00
Accepted Cryptos – BTC, LTC, ETH
Adjustability – Undistributed tokens will be destroyed by token contract.
Listing – BLCK tokens will be listed on crypto exchanges
Token Holder Benefits – BLCK can be used to pay for services on Black platform. Black will guarantee that until 1st of January 2021 service fees paid with BLCK will be at least 20% cheaper than service fees paid in any other currency.
Token Trade Limitation – Only Team and Advisors have vesting and sales lock-in periods

Our Road Map
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 ICO general sales.
December, 2018 Platform launched.
Summer, 2019 EU license.

Team

The team consists of insurance trade veterans and blockchain specialists. it's a good mixture of within information of the insurance trade, experience on blockchain technology and also the crypto house. Founders have over eighteen years of expertise in insurance computer code and saw the pressing want for an answer that will democratize the sector through technology.

Important links:-

Website : https://www.black.insure/
Lightpaper : http://www.black.insure/wp-content/uploads/2018/03/Black-insurance-lightpaper.pdf
Whitepaper : http://www.black.insure/whitepaper/
Twitter : https://twitter.com/BlackInsure
Facebook : https://www.facebook.com/blackinsure
Telegram : https://t.me/blackinsurebot
Bitcointalk : https://bitcointalk.org/index.php?topic=3372186.new#new
Linkedin : https://www.linkedin.com/company/black-insurance/
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