Given the lack of transparency and the resulting misinformation, or loss of trust between end customers, insurance providers, and intermediaries, such as brokers and agents, we are confident that the decentralized nature of the blockchain technology will help to recover the lost balance and will provide a platform, driven by shared data and mutual trust, while at the same time the clients may benefit from reducing administrative cost of the insurance products.

The blockchain sub-system of Vernam, is system of inter-related smart contracts.
It has two main purposes:
• Create Insurance Smart Contracts as a proof of the issuance of insurance and its details
• Transfer a commission back in the form of VRN Tokens