BLACK IS A DIGITAL GUARANTEE INSURANCE

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Black is a digital insurance company on blockchain. Our platform connects insurance brokers directly with capital enabling them to launch their own virtual insurance companies. Thus removing the trusted third parties (Insurance Companies) from the value chain.
In the 1600s, Edward Lloyd was running a coffeehouse in London where merchants, bankers and seafarers came to conduct business. Lloyd was known for offering best of class intelligence about shipping, associated risks and other similar matters. It became a popular place for two classes of people to meet: those who wanted to insure their ships from major damages, and others, who were willing to take risks and pay for damages when they occurred. For insuring the potential wreckage, the risk takers started taking payments, or premiums. Modern insurance markets, as we know them, were born

Black will use the blockchain to transfer risk directly from clients

(insureds) to financial backers (Black Syndicate Token holders):

• minimizing all inefficiencies
• storing all data securely in blockchains
• transparent business operations using smart contracts
• faster innovation by platform members

Black will fix the insurance industry fundamentally. Black is an insurance platform like Lloyds of London on blockchain without the expense, delays and bureaucracy that we witness today.
Insurance business will be generated by local MGAs / Brokers / Agents whose responsibility is designing insurance products for a market, pricing and selling the product and organizing claims handling. Delegating business to local agents makes the Black business model scalable while bringing business decisions closer to end customers.
One of the biggest problems in the insurance industry today is that the product design and customer are too far apart. Currently the products are created by insurance companies. This means that there are several parties between the customer and product, the system allows for a lot of bureaucracy, high costs and hinders innovation. Time to market normally takes years.
Our Solution
Black will be a licensed insurance company that provides insurance capacity to Agents, Brokers and MGAs (hereinafter “Brokers”) enabling them to launch their own virtual insurance companies. Our capacity comes without the traditional overheads of insurance company while using blockchain as main platform to get rid of centralized insurance companies.
We connect the idea to the capital directly, replacing the parties that are not needed in the value chain with technology. We will do this through crowdfunding, also giving smaller investors a way in. This leaner model gives more responsibilities to insurance brokers and control over the products they are selling. Insurers as we know them today are simply a trusted third party - blockchain gives us an alternative to that and the need for insurers disappears.
Our Platform in Development 

Figure x: Both retail and institutional investors can make returns from the value created by portfolios of insurance products on the Black platform by investing in the syndicate tokens.
Cost Analysis
We’ve done an analysis about data on the listed insurance companies across the world. We will show that the costs that occur for standard insurance companies that Black would almost eliminate, are quite significant. We have gathered financial data from various international and Estonian insurance companies
between 2013 and 2016. The data shows that administrative expenses are quite high in the industry, thus there is a lot of cost cutting possible. It also becomes clear that smaller insurance companies would be first to fall, as their administrative expenses are relatively high to their gross written premiums.

Insurance companies have costs for admin expenses and net profit of Gross Written Premium. The industry average is 20%. This is calculated by taking the average sum of the admin and net profit margins data of insurance companies provided in this blog post.
Black collects fees from users for using the platform for different actions. For example: syndicates fund an insurance product with capital. Black Insurance’s fee will be a % of the GWP (Gross Written Premium). Fees to be paid in BLCK tokens. Black Foundation will sell the tokens on the market to cover costs of operation: Development, HR, admin, legal & marketing. A surplus of tokens will be kept in the company reserve for occasions when costs rise and use of the platform is lower.
The foundation reserve will have an upper level. Once this level is reached we will decide on what to do with the surplus. Some potential options are:

• Invest in entering new markets
• Invest in expansion and growing user base
• Distribute to platform users wallets as bonuses
• Burn tokens

Black Insurance will use two types of tokens:

Black Platform Token (BLCK). BLCK powers the infrastructure, providing access to the platform and for conducting voting on system updates to the platform (utility token). All platform users will use BLCK for managing insurance on the Black platform, and demand for BLCK will increase as more insurance business is conducted on the platform.
Black Syndicate Tokens (BST) (issued when the platform is ready). BST is an investment in insurance capital, and a specific BST is created for each syndicate (security token), The profitability of the insurance portfolio for a specific syndicate will pass-through to the holders of it’s BST.

All Tokens created by Black Foundation will have deployments to Public Ethereum and to Private Hyperledger Fabric. Tokens deployed to Public Ethereum as Smart Contracts include functionality required for both the ERC20 and ERC223 specifications. Tokens deployed to Private Hyperledger Fabric will also include all ERC20 and ERC223 functionality, to establish a common definition between implementations on different Blockchains.
Token Name: Black Platform Token
Token Symbol: BLCK
Soft Cap: US $2,000,000
Hard Cap: US $45,000,000
Maxsimum supply assuming that all tokens are sold with maximum discount: 471,082,089

ICO Structure

Pre-Sales Star

7/31/2018

Pre-Sales Period

30

Topi Pre-Sale

$ 15.000.000,00

Pre-SalesTerm

The first week of bonus is 25% and after the first week bonus is 20%

  Sales Of Start Tokens

8/31/2018

  Token Sales Period

30 hari

Soft Cap

$ 2.000.000,00

Hard Cap

$ 45.000.000,00

Token Simbols

BLCK

 Total Of Token

471.082.090

Kurs

1BLCK = 0,2 USD

Minimum Purchase

$ 100,00

Cryptos Received

BTC, LTC, ETH

Team
The team consists of insurance industry veterans and blockchain experts. It is a great mix of inside knowledge of the insurance industry, expertise on blockchain technology and the crypto space. Founders have over 18 years of experience in insurance software and saw the pressing need for a solution that would democratize the field through technology

Advisor

For more information please visit the link below
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Created By : mayshella99

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ETH : 0x2BCEE6fda3e0Fe0A60E4785Ea5452660DeEb91F7