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Presentation of InsurePal – Social Insurance Based on Blockchain Distributed

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The rise of blockchain innovation has made possible a huge number of changes that bring transparency across the value chain and restore autonomy to users of the world's largest industries remained intact. The distributed registry has already affected various segments, from politics to entertainment and most importantly, finances. For the first time, its effect can also be used to change the global insurance market by 7 trillion dollars today.

What are the friends for?

Social proof is a psychological phenomenon where people rely on the feedback and actions of others in decision-making. Nowadays, people rarely buy anything without checking what others are saying or saying about the product. Because the reactions of real customers are easily accessible at your fingertips, the market is aware of the quality of its services and products. However, a market has not yet benefited from the impact of this powerful tool; the insurance industry.

The insurance industry is plagued by various problems, ranging from misrepresentation to identification, invasion of privacy, to poor segmentation and opacity. However, these problems will soon become a thing of the past with InsurePal .

Knowing you, Knowing Me

InsurePal is a decentralized and self-regulating insurance platform based on social proofing. The platform is the first to leverage blockchain technology and peer-to-peer assessments to create a rewarding and seamless platform for insurance policies. With InsurePal, users will be able to leverage information from their friends, families, neighbors and peers to guarantee their eligibility and reduce the cost of the subscription through an innovative Trustscore evaluation system. Say for example, you want cheaper car insurance, you are a careful driver, and someone you know is on the platform can vouch for you. You become automatically eligible, while your endorser becomes financially responsible in case of fault claim. But if you are as good as your reputation claims, both parties have nothing to fear!

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The Future is Decentralized

Unlike traditional providers, Insurepal recognized the importance of the blockchain and not only uses its immutability to provide a reliable and reliable system, InsurePal also secures blockchain business transactions, offering a compensation not realized to the injured party. . They will build trust among all stakeholders and greatly accelerate the quality and quantity of all future blockchain business transactions. Considering all this, they believe that the time has come for a new insurance player to further study the blockchain and offer a breakthrough solution on the InsurePal platform that will harness the full power of credit. innovation of blockchain technology.

"Its implementation has a long-term horizon to fundamentally simplify business processes as we know it today and build a highly customer-focused product that is designed for the benefit each individual and not for the benefits of insurance "says Matt Peterman, CEO of InsurePal.

Prospects for the future

Already, InsurePal has filed a patent application around the world to position it as the platform "go to" for insurance based on social proof. The platform is also developing a British auto insurance pilot project that will soon be unveiled.

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