Cryptoconsult - Thank you for your valid contribution.
Blockchain will make insurance more affordable, but not cheap. The idea behind using the token to discount insurance further is creating a greater value for token in the future. By maybe using a 'No-claims' annual token reward system, customers will have the benefit of then utilizing the token to discount their insurances
Two questions following your earlier response:
1. What has blockchain to do with affordability of Insurance?
2. How will tokens discount the insurance? Are you an insurance company or just a marketplace?
3. Can you elaborate further on tagging token to No-Claims reward? How will this work? Let's assume I purchased 100 tokens in your ICO. Now what all can I do with these tokens?
1. Unless mandatory ie. car insurance, most insurances are an extra expense a lot of people choose to live without. With a blockchain solution cutting out the middlemen we aim to make insurance something of a very affordable acquisition, a necessity as opposed to a luxury.
2. Initially we will not be an insurance company. Just a market place linking customers with products.
3. If you purchase 100 tokens in our ICO firstly - You will have access to buying insurance on our platform. Secondly (tentatively) we are considering the ability to utilize tokens to off-set insurance premiums further to the calculated quote and up to a percentage of, for example 20%. Hopefully this answers the second part of Q no.2 also..
We want to create a product that the crypto community have tailored to their needs, and are still open to all possibilities of token utilities.