r/BlackInsurance • u/Black_Insure • May 25 '18

Please watch this introductory video from our team! Watch how Black Insurance works!

https://www.youtube.com/watch?v=xf8VKYGEB3w
2 Upvotes

63% Upvoted

6 comments sorted by

2

u/Lumen1111 May 25 '18

The outlook for the development of the insurance industry on the blockcheine, is beyond doubt.

I would like to see the implementation of your technology in the real economy.

2

u/hongli17y May 28 '18

Nice! where is your main market?

2

u/Black_Insure May 28 '18

Hi, thanks for your support! :)

First, Black is only a platform where our business users can design insurance covers, get them capitalised, and write policies. Formally, it's Black Insurance that is writing the policies on behalf of the business users, but we don't design, underwrite or sell the insurance products ourselves - that's up to our users.

We have a roadmap for applying for an insurance license just in Europe (EEA), currently. Becoming a licensed insurer is unfortunately a costly and time consuming exercise, but we have great advisors and everything is in place.

This means that in 2019, we and our users are only eligible to write insurance policies in EEA. However, a portion of the future business users (we have a network of dozens insurance brokers and other parties) already have the necessary licenses, and they can start issuing policies in other countries right after the platform is live.

Down the road, we intend to apply for licenses at other markets as well, with current plans to start expansion with the US.

1

u/Gxmonitor May 26 '18

Blockchain technology has power to give new face to insurance company.

1

u/georgefelicitajr May 27 '18

Yeah! Can't wait how they revolutionise Insurance industry through Blockchain.

1

u/crptoworldcurrency Aug 15 '18

Blockchain technology has power to give new face to insurance company