ERC20 Token
The Insureum Protocol uses blockchain to create a decentralized ecosystem that connects insurers, their policyholders, and third parties
Using the Insureum Protocol, insurers get the data they need to create better policies. Developers and other third parties are incentivized to connect their apps and services to the Insureum Protocol. And policyholders are rewarded for sharing their anonymized data.
Within this ecosystem, these parties can exchange blockchain based tokens (Insureum) to buy and sell 100% anonymized data. Using blockchain to securely send this information between all parties, and to build new insurance policies will save the insurance industry millions every year.
- The Insureum Protocol gives policyholders more power to choose plans that match their lives and an incentive to share their data.
- Insurance companies incentivize policyholders by rewarding them with tokens (Insureum) for their anonymized data.
- They can also save time and effort when making claims as most of the processes can be automated, using the smart contracts on the blockchain.
“Currently, this centralized ecosystem is built around one-way transactions and outdated operations. This leads to expensive operating processes, underwriting practices and policies that don’t quite match policy holders. A decentralized Insurance industry would mean that companies will have access to the information they need and create value for all major parties. They’ll be able to to create personalized policies, and save money with more efficient, automated processes. Policyholders and third parties have an incentive to join in and will be ‘rewarded’ with tradable cryptocurrency by using the protocol.”
Positives
- Very Experienced Team. Members Are All Very Successful in Their past Efforts and Come with Experience with Companies Such as LG. The Team Profiles Look Very Professional, Everybody Checks out and Will No Doubt Serve the Insureum Platform Well.
- Beautiful Website. Super Easy Research for Investors. Extensive Documentation Including a Full Whitepaper And a Fast-fact Document For Investors Who Are Time Poor. Great Graphics. Well Structured and Presented.
- The Current Way Insurance Companies Collect Their Data for Research and Development Purposes Is Extremely Centralized and Expensive. Companies Are Paying Social Media Platforms and Other Media Huge Amount of Money to Capture Data to Better Serve Their Customers. Insureum Allows Insurance Companies to Access Anonymized Data Offered up by Users in the Ecosystem Cheaply and Through an All-in-one Solution.
- The Roadmap Extends All the Way into 2022. It’s Clear the Team Are in This Project for the Long Haul and It’s No Surprise Considering the Industry They Are Looking to Disrupt. Any Project Looking to Disrupt Industries like Insurance, Finance, Medical, Etc, Are All Going to Have to Overcome Challenges That Current Centralized Solutions Provide. Great to See the past Milestones Included Here Too.
- Competitors Are Going to Find It Hard to Compete Quickly. Insureum Is Creating a Platform That Is Not Easily Copied Due to the Ecosystem They Are Developing. Once Insurance Companies Connect and Load Their Data to the Insureum Platform, Competitors Essentially Lose That Potential Client. Insurance Companies Will Want to Use the Most Developed and Popular Solution.
Concerns
- Insureums Github Is Pretty Bare at the Time of Writing (May 5th, 2018). The Project Is Still in It’s Early Days so We Can Understand That the Github May Be Slow Going, but Some Visible Development on Something Apart from the ICO Contract Would Be Great. It’s Also Completely Possible That They Are Hiding Their Code from Potential Competition until They Are Confident Enough to Release It, This Is Not Unusual.
- The Advisory Board Is Full of Members with a Long History of Blockchain and Investment Experience but We Can Only See One Advisor Who Is Listed as an “Insurance Advisor”. It’d Be Great to See Some More Advisors with Experience Specifically in the Insurance Industry but the Core Team Does More than Enough to Make up for This. The Team Is Experienced Enough That This Isn’t a Huge Concern.
- No Other Concerns Here. Insureum Has Enough Power in the Team and Advisory Board to Seriously Disrupt an Industry That Is in Desperate Need of a Decentralized Public Ledger Solution. The Concerns Listed Here Are Very Minor and Are Mainly Due to the Young Age of the Project. With More Development We Don’t See Any Major Concerns at All.
Excluded Countries: USA, Singapore, China
Bonuses: TBA
Tokens For Sale: 65%
Min/Max Cap: 0.1 ETH / 1000 ETH
Accepts: ETH
ICO Period: Starts May 30th
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Token Details
Token Type
ERC20
Powered by the Ethereum Network. Can be stored on any ERC20 compatible wallet e.g MyEtherWallet
Token Statistics
Supply
• Ticker: ISR
• Total Supply: 297,000,000
• Fundraising Goal: $20,000,000
• Token Use: Services & Fees
Founders
The Team
• Ted Kim (Co-founder, CTO)
• David Suh (Co-founder, CFO)
• Thomas Choi (Developer)
• More
Industry
& Competitors
• Insurance Industry
• Data Sharing
• Competitors – None At This Time
