InsureX was founded in London in 2017. The concept came from Ingemar Svensson, whose company Finserve.io was working with various insurance clients who frequently brought up blockchain and the idea of an alternative marketplace.Shortly after, InsureX engaged a reinsurance company in London who agreed to further explore how this platform could improve security, administration and cost. Cristina Dolan also joined as co-founder and her experience from the startup sector, technology expertise and her commitment to the blockchain community is the ideal fit for the growth and acceleration of InsureX
The insurance industry is the most competitive industry.The organic growth of insurance industry has slowed. Insurers have been traditionally slow to adapt new technologies compared with their retail or banking counterparts, but we observe that the industry is moving away from this approach to embraced transformation. Some players have already started strategic investments in blockchain technologies to stay relevant in the market and remain competitive.
Ingemar Svensson, Founder & CEO/CTO
Before founding InsureX, Ingemar was the CTO of Risk and Valuation at SunGard Asset Management. Hisexperience ranges from managing large organisations to hands-on software development. Ingemar has spent 20 years building mission critical systems in various roles at Bank of America Merrill Lynch, Barclays Capital, Lehman Brothers and Mitsui Sumitomo Insurance.
The InsureX Token
InsureX Tokens or IXT for short, is an essential part of the InsureX ecosystem. The tokens serve several
functions in our environment:
● Transaction fee payment
● Payment for data
● Annual subscriptions
● API licences
IXT will be issued during our crowdsale. Once completed, no further tokens will be generated. The sale will
last three weeks from the 11th of July to the 31th of July.
A maximum of 130,000,000 IXT tokens will be generated, of those 30,000,000 tokens will be kept as reserve.
A maximum of 100,000,000 IXT will be sold during the crowdsale, any remaining tokens will be burned.
Example: If 40,000,000 IXT are sold during the crowdsale then the remaining 60,000,000 will be burned.
This would result in a total pool of 70,000,000 which equals to the number of sold tokens plus the InsureX
reserve of 30,000,000
Tokens will be issued in 5 tiers, each with an associated bonus model (see below).
The current price of IXT is 1,125 per ETH. The price for each tier is calculated on a bonus model and the distribution of the tiers is based on a first-come-first-serve basis. Early investment will benefit from the highest bonus, which will diminish down to 0% bonus at the last tier.
- If by the end of the crowdsale the initial goal (Tier 1) is not reached then all funds are returned to their respective owners.
crowdsale website: http://www.insurex.co/
InsureX whitepaper: http://www.insurex.co/wp-content/uploads/2017/05/insurex_whitepaper.pdf