PR: Insurance About to Make a Big Jump into Crypto World: Insurepal ICO Starts on January 16
InsurePal is challenging the $7 trillion global insurance market of today with a distributed, self-adjusting insurance platform. Harnessing the power of blockchain, they introduce a completely new model of risk selection, guided by the science of social proof. In other words, their network uses peer-to-peer endorsements to improve segmentation, lower premium costs and offer incentives to their users. Insurance is one of the sectors that are not usually a part of blockchain discussion. One of the reasons is the industry is so tightly regulated that not many businesses can compete, as they have to undergo severe legal and financial procedures to prove their models` sustainability. The other is its organizational structure, as it is an industry controlled by big corporations with a rigid structure, meaning the entry point is extremely high. And the later, but certainly not the least, is the challenge of how to effectively apply blockchain in insurance. It is not easy to come up with...