Umbrella Coin

The Umbrella Coin (UMC) team is building a next generation model for providing risk management for individuals and businesses. Our solution will be built on a decentralized, blockchain platform to avoid the fees and management costs associated with traditional insurance companies. We are aiming to have UMC tokens augment standard insurance policies such as life/health (L/H) and property/casualty (P/C). Total net premiums for L/H and P/C insurers was approximately 1.2 trillion in the United States alone in 20153 . Juxtapose net premiums with the total profits, approximately 100 billion4 , and there is a clear opportunity for the insured to cut out middle men and stop overpaying for coverage. Furthermore, policyholder’s requirement to pay a deductible and other hidden costs imposes an even greater overhead when attempting to make insurance claims. Our goal is to make UMC viable for standard benefit packages and later expand to full insurance policies