Hello Steemians!
Today’s post is about an ambitious new project called SafeInsure (Ticker name: SINS). Safeinsure is at the cutting edge of industry and technology, as its goal is to combine the Insurance market with blockchain.
The Insurance industry is massive, with over $1.2 Trillion paid in premiums in the United States alone. This accounts for roughly 10% of the country’s GDP. For an industry this large, there are several problems and inefficiencies that prove very costly for both the providers and customers. These problems include one-size-fits-all plans, fraud, and lengthy paper trails.
The SafeInsure platform will be a place where users can enter their information and insurance needs. This information will be sent to providers, who will then send individualized plans back to the user. These plans will be paid using the SafeInsure coin. Here is how the process will go:
Insurance companies will also be able to pay claims to companies, such as car companies after an accident, using the SafeInsure coin. This will decrease the process time, and eliminate costly middlemen and mediators, and eliminate the lengthy paper trail that is created through these transactions.
The blockchain solution also makes fraud impossible, as all claims, information, and documentation is stored on the immutable blockchain. Fraud is a major problem for insurance companies, and costs the industry over $80 Billion per year.
The SafeInsure team is aggressively pursuing partnerships with insurance companies, many of whom agree that blockchain is a great solution for the industry problems.
~Do your own research before making any investment~
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For more information about SINS:
Website: https://www.safeinsure.io/
Masternode Information: https://masternodes.online/currencies/SINS/
Whitepaper: https://www.safeinsure.io/SafeInsure_Whitepaper.pdf
Exchange: https://wallet.crypto-bridge.org/market/BRIDGE.SINS_BRIDGE.BTC
Discord: https://discord.gg/YzxyBGZ
CoinMarketCap: https://coinmarketcap.com/currencies/safeinsure/