Our goal is nothing less, but to revolutionize the insurance industry! We are the first company in the world ready to implement a high-end technological solution which will dramatically lower the cost of insurance services while making the business way more efficient and friendly for all parties-from End Clients to major Insurance Companies! For this purpose we developed Vernam! A decentralized platform, based on blockchain technology, connecting various stakeholders in the insurance industry – customers, brokers, and insurance companies, which will use blockchain technology to make the insurance process less costly, fully transparent and much more convenient. An unexpected reality? Insurance is one of the largest global industries ($ 4.73 trillion in 2016), but its business model has not changed significantly over the last several centuries, while its technologies have long become outdated. That is why our plan is to make the next evolutionary step and digitalize the industry. The status quo today: Big insurance companies depend on brokers to bring their products to end customers. In exchange, brokers receive generous compensation up to 30% of the policy premium – for performing relatively low value-added services. Imagine if End Clients don’t need to cover the broker’s commission and instead they receive his reward straight into their pocket? Vernam is about to make this possible. Our Solution: The use of a shared ledger will prevent any possibility for data manipulation, increasing transparency and minimizing transaction costs. Besides the engine, a proprietary off-chain marketplace will use the Vernam token (VRN), an Ethereum-based ERC20 standard crypto token to take full advantage of the platform functionality. Here’s how: Clients, purchasing conventional insurance through the Vernam platform will receive a reward in VRN tokens, equal to a typical broker’s commission (up to 30% of the premium price). Tokens can be sold on an exchange or used for the purchase of conventional and crypto insurance products. And there is even more! “CryptoSafe”, a crypto product, only available through the Vernam platform. Each platform user will be able to purchase the “CryptoSafe”, which is a type of a smart contract, guaranteeing that when a defined set of events occurs, the client will be compensated with a certain amount of VRN. An intelligent way to create even safer environment. Would you like to participate in the future of insurance NOW? In total 1 billion Vernam tokens will be created and 50% will be sold at the token sale event. The proceeds will be used to develop the blockchain platform and to implement the platform on key markets, depending on size of the funds raised. We unite the best of both worlds. Vernam platform users will be able to make conventional insurance through our own network of brokers, including Vernam company itself, and/or to purchase “CryptoSafe”, the newest and most innovative blockchain based insurance product that Vernam will introduce.
|1||Business Idea: Is business idea unique and sustainable? Is this idea solving an existing problem or addressing future opportunity?
As per recent pitch statistics, 90% of the projects are falling out of funnel for investors. Investors don't see the uniqueness of the project.
ICOcube Trusts: If the idea is unique rating should be 5 A successful idea in the centralized world is now moving to the decentralized world using Blockchain, the rating should be 3-4 If Idea is regular and no uniqueness then the rating would be low 1-2.
|2||Token Supply : Are you convinced with total token supply?
ICOcube Trusts: If total supply is open-ended consider rating wisely (1-5), Ether supply is unlimited whereas Bitcoin supply is 21 Million, Ripple Supply is 100 Billion. If total supply is closed-ended and compelling logic is given consider high rating (4-5)
|3||Token Economics: Do you understand and agree how the token is integrated with the businesses?
ICOcube Trusts: if the token is rotated/integrated well, consider high rating(4-5) else low rating (1-3).
|4||Team : Does team members have adequate knowledge of Blockchain and respective business?
ICOcube Trusts: if team members experience is good, consider high rating(4-5) else low rating (1-3).
|5||Advisors: Are advisors experienced in Blockchain projects and ICOs? if yes, consider high rating else low rating
ICOcube Trusts: if advisors experience is good, consider high rating(4-5) else low rating (1-3).
|6||Legal : Please verify Head office of the company as mentioned and ensure the respective country is not against to Cryptocurrency.
ICOcube Trusts: If the respective country is against to Cryptocurrency then rating should be Zero else high (4-5).
|7||Demand and Supply management: Do you see token will have adequate demand? Do you see that multiple businesses adopt the respective platform to conduct their business or use it for personal growth, entertainment?
ICOcube Trusts: if demand and supply are well defined and you agree, consider high rating(4-5) else low rating (1-3).
|8||Technology: Please check which Blockchain is used and please do your research whether respective Blockchain is scalable
ICOcube Trusts: if respective Blockchain is scalable with respect to handling transaction and load, consider high rating(4-5) else low rating (1-3).
|9||Marketing: Marketing is key for ICOs and communicating the business value.
ICOcube Trusts: if marketing plan is good, consider high rating(4-5) else low rating (1-3).
|10||Budget: PLease check whether the team has got the adequate budget to run the ICO and make the project successful. You can validate Blockchain project address and smart contract created address, check the Balance of the respective account, this information will be available as open data.
ICOcube Trusts: If you get enough inputs on current investment by founders and budget-related information, consider high rating(4-5) else low rating (1-3).