Tag: InsurePal

Consortium for Identity Assurance in Digital Trade Launched by Blockchain Leaders

London, 16 February 2018: Mattereum and InsurePal have announced the Identity Insurance Consortium (IIC) to drive insurance-based identity solutions to underpin the security of commerce on the blockchain. The IIC represents the infrastructure network of services covering critical aspects needed to accelerate the adoption of blockchain commerce. New members are invited to join the consortium in order to grow the ecosystem of identity sovereign assurers building a global network of …
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InsurePal Social Proof Insurance Announces Partnership with Mattereum

InsurePal is a blockchain insurance company that works on what is called social proof, a concept introduced in depth in a prior article. It challenges current practices in the insurance industry which fail to provide a transparent and fair pricing model. Their platform connects responsible individuals in a peer-to-peer insurance relationship by introducing social proof endorsements. If a friend endorses you, they stake a sum of their choosing to be …
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First Case of Social Proof Insurance Offering Trust When Transacting Products & Services on Blockchain

Large insurance companies make their profit by capitalizing on drivers that have good behavior. If a driver gets out of line, their insurance policy pays a set amount after the deductible and their price of insurance goes up. This penalizes bad drivers, yet insurers still make billions off the backs of good drivers in the process. And despite its growth this $7 trillion industry shows no real effort to innovate. …
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