InsurePal logo
Website

InsurePal (IPL)

ICO

Distributed social proof insurance.

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Overview

Project industryInsurance
Product typePlatform
FoundedLiechtenstein
WhitepaperInsurePal White Paper Open
OnepagerInsurePal Onepager Open

Technical details

The platform will work as an dAPP for B2C customers and as a service for B2B partners that will resell social proof insurance by using InsurePal solution.

What is InsurePal

InsurePal is a self-regulating, social proof insurance platform based on social proofing and decentralization. To protect the intellectual property behind InsurePal, a worldwide patent has been filed, giving then InsurePal platform a unique opportunity to become “the go to” platform for insurance based on social-proof.

The introduction of social proof as a self-regulating psychological phenomenon allows InsurePal to nurture a scheme of lower-risk individuals, consequently decreasing their premiums by up to 50%, whilst fully harnessing the power of blockchain technology. Having the ability to offer an attractive end-to-end product for an incomparably lower price is our guarantee for success, as well as a proven solution that will attract only the diligent and responsible into our business model.

InsurePal model improves the segmentation and risk selection process; a decades-lasting issue for insurance companies and insurance clients alike and most importantly, enhances the trust that flows horizontally among peers, friends, colleagues and business partners. The most suitable expression for InsurePal using insurance terminology would be “a third-party deductible”. It is proven that a classic deductible reduces insurance claims frequency due to the clients’ imposed self-evaluation. From this fact InsurePal proceeded when re-inventing an InsurePal third-party deductible into a third-party evaluation with introducing social proof.

MISSION STATEMENT

InsurePal aims to become a first-of-a-kind blockchain-based decentralised insurance platform powered by social proof guarantee. We’re dedicated to build a modern insurance product that reflects the historical roots of insurance, where a smaller group of acquaintances agreed on a mutual method of sharing the burden of risk based on trust. We wish to return insurance back to its core value of trust and consequently expand the mindset of mutual reciprocity. As InsurePal model is self-regulating and therefore ideal for blockchain implementation, we’re decided to not only address the insurance challenges of today, but encroach upon those niche segments which don’t yet exist but will be crucial in the years to come. Doing so, we tend to deepen the community’s confidence in blockchain transactions and operations, and thus strengthening the growth and expansion of an emerging distributed economy.

VISION

Our vision is to craft an insurance premium based on one’s social endorsements by rewarding diligence. We’re growing a community that shares the common value of reciprocity and thus creating a shift, not just in insurance industry, but also in a broader society. InsurePal can and will self-regulate without the need of an industry-funded regulatory body, continuously allowing us to create attractive end-to-end insurance solutions, addressing both, the challenges of today and those of tomorrow.

Details

Public sales: Jan 16, 2018 - Jan 16, 2018
Token supply: 300,000,000 IPL
Total tokens for sale: 201,000,000 IPL
Soft cap: 5,000,000 USD
Hard cap: 18,000,000 USD
Raised: 18,000,000 USD

Legal

Blockchain Platform: Ethereum
Country limitations: Canada, China, Singapore, United States,

Token info

Ticker: IPL
Type: Utility-token
Token price in USD: 1 IPL= 0.1 USD
Accepted currencies: ETH
Bonus program:
10% for
- those who contribute in first 96 hours
- those who contribute over 50 ETH
Token distribution:
67% - ICO
10% - Founders
6% - InsurePal Team
6% - TCS Support Team
6% - Advisors and ambassadors
3% - Incentives for users & contributors of InsurePAL platform
2%  - Early investors in Pre-token

InsurePal Roadmap

1
2015

Social proof and first round of funding
Insurance industry is full of irregularities. Founders identify the science of social proof as a solution and invest close to $500.000 to develop the social proof model and web app demo. Calibrated mathematical algorithms confirm the model brings from 30% and up to 70% cost reduction.

2
2016

US & worldwide patent
Social proof insurance patent protection is filed in US and worldwide. Founders pitch the idea in Silicon Valley but refuse several million offer to be able to develop InsurePal on their own terms. The methodology, viability assessment and a legal review of the project are developed. Blockchain is identified as the missing piece. Several meetings with crypto think-tanks occur. InsurePal core team is assembled.

3
2017

Core team & ICO preparation
InsurePal expands the team with several blockchain and IT experts. The architectural design of the InsurePal platform and its functionalities begins. Parallelly, the extensive preparations for ICO go about.

4
2018

Platform launch & blockchain features integration
The development of InsurePal platform core begins. First social proof modules are ready to be used. PR & Marketing campaign launches. InsurePal changes its name to VouchForMe to expand the idea of social proof being suitable and compatible with other industries besides insurance.

5
21 June 2019

IPL token is accepted as a payment method for usage fees on the VouchForMe platform.

6
1 July 2019

VouchForMe launched as a feature of a new motor insurance product - the potential impact of this partnership with an insurance company is more than 1 million users.

7
Q3 2019

IPL token roadmap update.

8
1 September 2019

VouchForMe launched as a feature of a new motor insurance product - the potential impact of this partnership with an insurance company and affinity group is 100,000 users.

9
Q4 2019

The start of an invitation-only VouchForMe Income pilot. VouchForMe Income is an income protection product for groups of individuals who want to secure part of their income for the case of a prolonged illness, injury, or similar. It is based on the social proof model designed by VouchForMe.

10
2020

Scaling and product portfolio expansion
Scaling up VouchForMe Motor across multiple markets. Development of an online IPL marketplace for discounted services provided by VouchForMe partners. New partnerships with insurance companies running the VouchForMe Income.

11
2021

Social Proof Score and ecosystem development
Development of the Social Proof Score, a personal diligence rating that brings discounts with partner companies in the VouchForMe ecosystem. Scaling up the IPL token marketplace.

Project team

Matt Peterman
Matt Peterman
Co-founder & InsurePal CEO
Matt Peterman linkedin
Tom Volk
Tom Volk
Co-founder
Tom Volk linkedin
Jacob Westerlaken
Jacob Westerlaken
Chief Executive Officer
Jacob Westerlaken linkedin
Damir Kervina
Damir Kervina
Chief Product and Operations Officer
Damir Kervina linkedin
Aleš Tomažin
Aleš Tomažin
VP of Business Development
Aleš Tomažin linkedin
Lučka Čokl
Lučka Čokl
Chief Marketing Officer
Lučka Čokl linkedin
Nikola Ristić
Nikola Ristić
Chief Technology Officer
Nikola Ristić linkedin
Matjaž Tercelj
Matjaž Tercelj
Head of Research & Development
Matjaž Tercelj linkedin
Erik Žunič
Erik Žunič
Chief Financial Officer
Erik Žunič linkedin
Daniel Biesuz
Daniel Biesuz
General Legal Counsel
Daniel Biesuz linkedin

Social media

InsurePal web-siteInsurePal MediumInsurePalYouTubeInsurePal TelegramInsurePal BTCTalkInsurePal LinkedInInsurePal X (Twitter)InsurePal FacebookInsurePal SlackInsurePal Github

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