they came out with a project about insurance...we all know indeed blockchain could be very useful in the insurance industry other than medical...so it feels right to invest in a company working on this field.  This is exactly what they wanted us to believe.
I don't know if it's a scam or not, maybe they are really working on the main project but I have no evidence of it.What I know is that they only distributed coins so it's no surprise price dumped.