Vernam is disrupting the insurance sector and developing a Decentralized P2P marketplace for the industry. The platform will be broker free, cost efficient, data driven and transparent. Consumers will also be able to get up to 30% cashback on their insurance premiums.
As currently constituted, the insurance industry is clogged by lack of transparency, riddled with corrupt and inept brokers and operates in a culture bent on fleecing the insured.
Purchasing Insurance the Vernam Way
Vernam is in the vanguard of redefining the way people access insurance. The platform is keen to connect insurers directly with the people who would like to be insured – and in the process, get rid of middle men. Up to 30% of the amounts previously paid to brokers would be channeled back to clients and given back as cashback in the form of Vernam Tokens (VRN). The tokens can then be exchanged for fiat money or used for VRN denominated purchases. This breakthrough makes insurance more affordable and accessible by the general population.
More Game-changing Products for the Insurance Sector
The platform also seeks to introduce a revolutionary product known as CryptoSafe – a smart contract that guarantees compensation to the insured, should a predefined event occur. Speaking during an investor briefing, the CEO and Co-Founder Roman Angelov said: “We are convinced that out product offering will benefit both insurance players and the consumers. There are lots of opportunities that both can leverage. We are moving towards an industry that is shifting from intuition based policy pricing to one that is based on data. Blockchain technology will allow the players to offer insurance products and assessment on an individual capacity thereby minimizing risk and increasing efficiency.”
Core Features of the Vernam Platform:
- Customers get rewarded cashback of up to 30% for purchasing conventional insurance policies, that would otherwise be paid to brokers.
- Clients are guaranteed compensation should a defined set of events occur through the application of smart contract “CryptoSafe.”
- Insurers optimize the risk assessment by utilizing blockchain technology which will create a temper-free, perpetual record of client’s insurance history.
40 Percent Bonus for Early Investors
Those interested in investing in Vernam may take advantage of the project’s initial coin offering (ICO).
The ICO pre-sale began on May 15, and will run until June 5th. During this time, early investors will be able to take advantage of a bonus of up to 40 percent — but interested parties should probably hurry, as the ICO has already reached its soft cap target of 40 million VRN or 4.5 million USD.
Media Contact: Kate Alippa
Email: [email protected]
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.