May 9th, 2018 at 6:19 am UTC · 2 min read
Vernam is in the vanguard of redefining the way people access insurance. The platform is keen to connect insurers directly with the people who would like to be insured – and in the process, get rid of middle men.
Up to 30% of the amounts previously paid to brokers would be channeled back to clients and given back as cashback in the form of Vernam Tokens (VRN). The tokens can then be exchanged for fiat money or used for VRN denominated purchases.
The platform also seeks to introduce a revolutionary product known as CryptoSafe – a smart contract that guarantees compensation to the insured, should a predefined event occur. Speaking during an investor briefing, the CEO and Co-Founder Roman Angelov said: “We are convinced that out product offering will benefit both insurance players and the consumers. There are lots of opportunities that both can leverage.
We are moving towards an industry that is shifting from intuition based policy pricing to one that is based on data. Blockchain technology will allow the players to offer insurance products and assessment on an individual capacity thereby minimizing risk and increasing efficiency.”
The Vernam ICO Pre-Sale will take place on May 15th, 2018 until July 15th,2018. Early investors will also be able to claim up to 40% bonus. The ICO has already reached its soft cap target of raising 40 million VRN.
Read the Whitepaper: https://www.vernam.com/assets/uploads/Whitepaper_Beta_v015.pdf