Now adays statistics shows that 71% of insurance customers are not satisfied with their current providers, 41% of all claimants are likely to stop business with current providers. A lot of time-consuming actions caused by insurers bureaucracy and dependence on subjective employees decisions. Unclear price policy, unreasonable prices give the feeling that the customer overpays. Today’s Insurrect does not disrupt the market, it makes the value chain more time and cost-effective. 65% of Insurtech work on distribution, just 10% work on claims settlement the real value of insurance.
Here comes a decentralized platform in blockchain technology know as Socratus, Socratus is win-win insurance which gives a win scenario for customers and win environment for insurance companies and data/service providers. We create an insurance ecosystem with instant claim payment, friendly prices, and transparent deal , their software platform is used as feasy white labeled integration with existing insurance companies and their partners/agents, open insurance protocol on blockchain providing decentralisation, transparency, and security for all participants, fully transparent insurance company as a proof of concept and competition driver, laboratory and incubator of innovative insurance products as a part of a platform.
The platform is universal business application based on win-win rules. Its destiny is to deliver the new insurance environment for all ecosystem participants in a familiar way and make possible a smooth move from traditional insurance model to native. The platform comprises multiple modules to cover the full cycle of new insurance product delivery.
Socratus Mission
Socratus mission is to change the paradigm of the traditional insurance market in creating ‘ Native insurance’, that will predicts current risk and takes care of insurance by default. Socratus Claims are paid instantly. Their Clients feel the invisible presence and support of insurance protection. Insurance companies get from Socratus technological infrastructure, data analytics and insights, white label for their marketing activities and new products development.
Main feature of Socratus
The focus should be on thecconsumer interests, win-win insurance rules axioms are:
— instant claim payment,
— fair and transparent dealing,
— friendly prices
Benefits for ecosystem participants
Ecosystem rules aim to bring assured conditions for each participant that is why we highlight personal benefits for each party.
Insurance companies and intermediaries can be consciously connected to Socratus ecosystem. These parties gain the following benefits in the case of ecosystem adherence
— white label for marketing activities,
— Operational costs reduction,
— New products without any cost for development,
— A new source of revenue,
— A ready technological infrastructure,
— access to data analytics.
ICO distribution and Token sale
A total of 2.000.000.000 (two billions) SCR tokens will be issued. The minimum target (softcap) for crowdsale is $5 millions. The target is $125 millions. Initial price will be set to 0,10$. If the softcap is not reached, the funds will not be able to reach by the team and all contributors will get a full refund.
SCR Tokens distribution
69% — Crowdsale
6% — Early participants in pre-sale
3% — Bounty
4% — Advisors & ambassadors
6% — Team & contributors
12% — Founders
The tokens will be distributed to the contributors’ wallets after the ICO is finished.
ICO raised funds allocation
Funds raised from 69% of Tokens
are used for the following purposes:
20% — IT development
30% — Marketing
30% — Insurance reserves (including legal set-up of an insurance company)
15% — Team
5% — Legal and financial support.
Socratus teams
- Ilya Kosolapov , Founder, Project Ideologist
- Elena Zhura , Founder, Business development
- Ilya Egoshin , Co-founder, Business and insurance lead
- Timur Sultanov , Co-founder, IT lead
- Ivanov Kirill, Development lead
- Dmitriy Chirkin , Legal Support
- Vladimir Popov , ICO legal support
- Yury Bochenkov , Legal support
- Dr. Robin Kiera , Insurance Advisor
- Jangin Alexander , Insurance Advisor e.t.c
Check their whitepaper for more information
Conclusively, the Insurance products for the socratus target audience is progressive, online recommended, socially active and always in search for optimal solutions. Investing in this program is the results of having a backup for life saving operation.
For referendum see the link below:
#Swiss Re publication “Insurers and reinsurers launch Blockchain initiative” (2 pages) http://www.swissre.com/reinsurance/insurers_and_reinsurers_launch_blockchain_initiative.html
Harvard Business Review publication “Blockchain Could Make the Insurance Industry Much More Transparent” (5 pages) https://hbr.org/2017/07/blockchain-could-make-the-insurance-industry-much-more-transparent
InsureTechNews, Top-50 InsureTech influencers https://insurtechnews.com/influencers
For social media link click on the address below:
https://www.facebook.com/socratus.io/
https://twitter.com/socratus_io
https://www.instagram.com/socratus.insurance/
https://www.linkedin.com/company/socratus/
https://medium.com/@socratus
https://t.me/socratus_official
https://bitcointalk.org/index.php?topic=4134975.msg38169661#msg38169661
AUTHORED BY SOLOMON PETER AYODELE
LINK : https://bitcointalk.org/index.php?action=profile;u=2157365