Policypal,which is Singapore based company with work on insurance.
The Future of Insurance for the Unbanked and Cryptoassets.
What is PolicyPal Network?
PolicyPal Network is a platform built with a twofold vision of addressing key issues that overlap the fields of both insurance and cryptoassets in the world today.
connects
Giving a peace of mind to the cryptocurrency community with CryptoProtect.
protection
Providing the unbanked the access to protection with mutual aid insurance.
transparency
Brings transparency, accessibility and cost savings to all stakeholders.
mitigate
Mitigate elements of conflict in traditional, centralized insurance models.
Our Vision
mobile-devices
We envision a digital future where insurance and cryptoassets seamlessly overlap without any friction. We aim to achieve an end goal where cryptoassets holders are adequately covered by insurance from cyber network hacks and reducing the barriers of entry for insurance to the emerging markets through peer-to-peer mutual aid insurance implemented on the blockchain.
CryptoProtect Insurance for Cryptoassets
Total market cap for Cryptoassets as of Jan 2018:
Average of US$700 Billion
CryptoProtect – Cyber security insurance in partnership with insurers to protect cryptocurrency assets.
We have observed a strong demand for cryptoassets insurance as consumers are concerned about their wallets and accounts on exchange getting hacked.
CryptoProtect will be underwritten by "AA" rated global insurer. We will be partnering with startups in the blockchain community to secure their cryptoassets and cryptowallets.
Inclusive Insurance for Emerging Markets
A big portion of Asia’s 4.4 billion population is still heavily underinsured in relation to the west. A study by Swiss Re found that the mortality protection gap in the Asia Pacific was as large as US$58 trillion in 2014.
PolicyPal Network is targeted at lowering barriers of entry for the unbanked that traditionally do not have insurance protection due to costly premiums in relation to their income. With P2P mutual aid insurance, we want to build a inclusive community where members are able to obtain protection at a relatively low cost.
The smart contracts automates the underwriting of policies and claims handling powered by PolicyPal Network blockchain which reduces the cost of insurance premiums making insurance protection affordable for the unbanked.
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PolicyPal Network Blockchain
Powering the decentralised insurance network across different countries
Smart Insurance Contracts - weather condition triggers, fraud detection, pricing algorithm adjustments, claims submission and payout.
Instant settlement and issuance of policies.
Secured blockchain design for privacy to protect sensitive policyholder details.
PolicyPal Track Record
Our existing business: PolicyPal is an Monetary of Singapore (MAS) Licensed Insurance Broker and Exempted Financial Advisor that enables individuals to buy, manage and optimise their insurance policies.
To date, PolicyPal has accumulated a user base of over 32,000 in Singapore alone since launch of product 12 months ago. We are also Singapore's first and only graduate from the MAS fintech regulatory sandbox.
Selected Achievements:
Orange Fab Asia Winner Tokyo 2017
NTT Data Special Award 2017
Gold Award - Asia Smart App Summit Hong Kong 2017
T Hero Guangzhou China - Singapore Winner 2017
Prudential Fintegrate Partnership program
Google Asia Pacific StartonAndroid program
Find out more about our current PolicyPal business here.
