Vernam
The Future Of Insurance
Vernam, one of the world’s first no-commission insurance service on the blockchain. The very basic objective of this blockchain is to bring a revolution to the insurance industry. Vernam is probably the first company in the world that is about to implement a high-end technological solution. Their solution will effectively lower the expenses of insurance services, whilst making it efficient and easy for the interested parties to use. Vernam is a decentralized platform, based on the blockchain technology. The purpose of this platform is to connect different stakeholders of the insurance industry, such as customers, brokers and insurance companies, who will use this blockchain technology to make all the insurance processes less expensive, more transparent and convenient. Vernam uses blockchain technology to provide: 1. A competitive digital marketplace for different conventional insurance products from various companies 2. A substantial compensation, up to -30 % of the policy premium. This amount is returned to the client as a Vernam token (VRN). 3. “CryptoSafe”, an exclusive contract guaranteeing that when a predefined group of events happen, the customer will be compensated with certain number of Vernam Tokens (VRN). Vernam uses the Ethereum platform and its Token (VRN), which is ERC-20 based. The most well defined and most innovative blockchain-based insurance product will be introduced by Vernam.
Blockchain Developer
Strategic Planning
CTO
Blockchain & Crypto Expert and Developer
Blockchain & Crypto Expert and Developer
Blockchain & Crypto Expert and Developer
CMO
General Legal Counsel
Insurance Director
Insurance Director
Financial Expert
Business Developer
Co-founder
Co-founder
CEO, Co-founder
Advisor
Advisor
Advisor
Advisor
Advisor
Blockchain & Crypto Expert - Advisor
Marketing Advisor
Financial Expert - Advisor
Insurance Expert - Advisor
Vernam is a brilliant concept of bringing a revolution in the insurance industry. The idea of using blockchain for the insurance industry is very good, however we are uncertain whether they can execute it properly or not. Since it’s a marketplace platform for big insurance companies, it is only useful for them. Additionally, they are compensating their customers by giving them 30% of the policy premium in shape of Tokens and just like every other blockchain user they use the smart contract system. Vernam should focus more on their business strategies to get ahead of their competitors. They should identify their core abilities and market their product based on that. Also, they should work on their mobile app by bringing constant innovations in its features and functions. It is unsure whether their decision to creating a new token will be beneficial for their future. Moreover, the minimum transaction amount should also be decreased so that more markets can be targeted. They have strong and competitive team, they should be able to execute what they want to, but they may need a stronger international Asia and US experienced team for growth.
Rated on 2018-09-04Founders joined efforts to change the insurance industry and started building the Vernam concept.
Concept was validated by experienced InsurTech executives, who later joined the team.
Angel investment received, start of platform development.
Start of the preparation for a token sale.
Listed on an exchange.
Vernam platform MVP launch and testing.
Vernam broker starting operation in several markets.
First CryptoSafe smart contracts signed. Vernam mobile app launch.
Development of additional smart contract insurance products
Operating on 8+ key European markets.