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Safeinsure is a decentralized insurance marketplace bringing equitable price discovery and global access to insurance policy shoppers worldwide. SafeInsure puts consumer power back in your hands with an honest, accountable, and democratic insurance marketplace on the blockchain.
Best practices protecting against insurance fraud are absent, resulting in artificially high premiums to policy consumers. Claims, payments, and contracts are all still done on paper and by telephone resulting in erroneous information, lost data, and network inefficiencies. These inefficiencies and long settlement times are all passed down to the consumer who pays a higher and higher premium for each mistake.
The introduction of blockchain technology means these remnants of the past can now stay there, and with SafeInsure, the insurance industry can finally evolve. SafeInsure harnesses blockchain technology to create a new digital accountability network for insurance buyers and providers, initiating a new era in which our distributed ledger technology can keep both consumer and provider utterly accountable without the need for an intermediary. With transparency, honesty, and accountability guaranteed by an intermediary-free network, the SafeInsure marketplace can bring competitive price discovery and modular insurance plans to consumers worldwide.
The SafeInsure marketplace has a native currency, the SafeInsure coin (SINS). All transactions made between insurance policy providers and consumers will require SINS. Additionally, insurance-related products and the insurance pools will require SINS. In effect, the only currency accepted within the SafeInsure ecosystem is SINS.