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Despite the large size of the insurance industry there has not been any significant advancement, in the state of affairs over the last few centuries since its inception. The industry has been reported as one of the largest and oldest industries all over the world, estimated to the tune of about 4.73 trillion dollars as at 2016, and growing at the rate of 3% every year.
As much as many other industries across the globe, the insurance companies depend mainly on distribution partners (brokers and agents) to get their products across to the end users, and as a reward, these distribution partners receive commissions that are about 20% the total value of the insurance policy for an almost negligible added value.
Over the past few decades, there have been technological advancements that have helped to revolutionize the marketing industry, as well as the communication industry, such that users and customers have at their disposal, various tools to source for service providers, get information on price, features, among other purchase information. Companies and organizations on the other hand have got tools with which they can interact directly with clients and end-users.
Regardless of all these revolutions, the insurance sector is yet far behind. In a bid to cause a reformation and digitalize the insurance industry, Vernam was initiated. https://www.vernam.com/
Vernam is the first blockchain-based and most innovative insurance platform with the aim of making the insurance process less costly, fully transparent and much more convenient. In addition, Vernam will be releasing a crypto product called “Crypto safe”. Crypto safe is a type of smart contract which guarantees the user (purchaser) compensation with an agreed amount of VRN (the Vernam token) in the event of a pre-defined negative occurrence.
Taking full advantage of decentralized ledgers and addressing the current inefficiencies in the insurance space is the ultimate goal of Vernam.
There are two main problems Vernam plans to solve;
• The lack of pricing transparency
• Lack of adequate customer history
As much as many other industries across the globe, the insurance companies depend mainly on distribution partners (brokers and agents) to get their products across to the end users, and as a reward, these distribution partners receive commissions that are about 20% the total value of the insurance policy for an almost negligible added value.
Over the past few decades, there have been technological advancements that have helped to revolutionize the marketing industry, as well as the communication industry, such that users and customers have at their disposal, various tools to source for service providers, get information on price, features, among other purchase information. Companies and organizations on the other hand have got tools with which they can interact directly with clients and end-users.
Regardless of all these revolutions, the insurance sector is yet far behind. In a bid to cause a reformation and digitalize the insurance industry, Vernam was initiated. https://www.vernam.com/
Vernam is the first blockchain-based and most innovative insurance platform with the aim of making the insurance process less costly, fully transparent and much more convenient. In addition, Vernam will be releasing a crypto product called “Crypto safe”. Crypto safe is a type of smart contract which guarantees the user (purchaser) compensation with an agreed amount of VRN (the Vernam token) in the event of a pre-defined negative occurrence.
Taking full advantage of decentralized ledgers and addressing the current inefficiencies in the insurance space is the ultimate goal of Vernam.
There are two main problems Vernam plans to solve;
• The lack of pricing transparency
• Lack of adequate customer history
The decentralized ledger has great advantages for both the clients and the insurance companies. It can be used to create a tamper-free, permanent record of clients’ insurance history, which can then be used by insurance companies to optimize their risk assessment. For the clients, it can be the key to bring down their insurance premiums. Ultimately, the Vernam ledger, being a decentralized solution, will take back the about 20% commission brokers amass to the customer, which will lead to the low insurance premiums.
The Vernam platform will have a Public and Private section. The Public section will provide insurance-related information to all and sundry, while the Private section will help customers buy crypto digital and insurance products.
Kindly download the Vernam White Paper at https://www.vernam.com/assets/uploads/Whitepaper_Beta_v015.pdftolearn more about Vernam and its accoutrements.
Vernam will be offering the general public an opportunity to invest and become part and parcel of this revolution in the insurance industry. It intends to achieve his through the Token Sale Event of the Vernam Token (VRN). One billion VRN Tokens will be issued in total, of which 500 million will be made available for the Token sale. Here’s the Token Distribution.
The Token Sale Event details are tabulated below.
To join the pre-sale, click on https://www.vernam.com/#whitepaper
Join the Vernam communities
https://www.facebook.com/vernamofficial/
https://twitter.com/vernamofficial
https://www.linkedin.com/company/vernam/
https://medium.com/@vernam.official/
Wallet Address: 0x855382e202d3dcadfda10f62969b38dcee55827
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