Vernam 4.25/5 (1)

Vernam

0% commission insurance on blockchain
The world's first 0% commission insurance on the blockchain. Our goal is to revolutionize the insurance industry! We are probably the first company in the world ready to implement a high-end technological solution which will dramatically lower the cost of insurance services while making the business way more efficient and friendly for all parties-from End Clients to major Insurance Companies.


4.3

HypeSecurityTeamVision
4.04.05.04.0



Ends in
12 days
5 Jun 2018

TokenVRN
Price in ICO1 VRN = 0.085 USD
CountryBulgaria
preICO start15 May 2018
preICO end5 Jun 2018
ICO start6 Jun 2018
ICO end15 Jul 2018


  • ABOUT
  • TEAM
  • MILESTONE
  • FINANCIAL
  • SECURITY
  • MEDIA

Vernam utilizes blockchain technology to provide:

  • Competitive online marketplace for conventional insurance products by the biggest insurance companies
  • Generous compensation - up to 30% of the policy premium in Vernam tokens (VRN) is returned to clients
  • “CryptoSafe” - a smart contract, guaranteeing that when a defined set of events occur, the client will be compensated with a certain amount of Vernam Tokens (VRN). The newest and most innovative blockchain based insurance product that Vernam will introduce

The goal is nothing less, but torevolutionize the insurance industry! Weare the first company in the world ready to implement a high-end technological solution which will dramatically lower the cost of insurance services while making the business way more efficient and friendly for all parties - from End Clients to major Insurance Companies!

For this purpose we developed Vernam! A decentralized platform, based on blockchain technology, connecting various stakeholders in the insurance industry – customers, brokers, and insurance companies, which will use blockchain technology to make the insurance process less costly, fully transparent and much more convenient!

An unexpected reality? Insurance is one of the largest global industries($ 4.73 trillion in 2016), but its business model has not changed significantly over the last several centuries, while its technologies have long become outdated. That is why our plan is to make the next evolutionary step and digitalize the industry!

The status quo today: Big insurance companies depend on brokers to bring their products to end customers. In exchange, brokers receive generous compensation – up to 30% of the policy premium – for performing relatively low value-added services. Imagine if End Clients don’t need to cover the broker’s commission and instead they receive his reward straight into their pocket? Vernam is about to make this possible!

The Solution: The use of a shared ledger will prevent any possibility for data manipulation, increasing transparency and minimizing transaction costs. Besides the engine,a proprietary off-chain market place will use the Vernam token (VRN), an Ethereum-based ERC 20 standard crypto token to take full advantage ofthe platform functionality

Here’s how: Clients, purchasing conventional insurance through the Vernam platform will receive a reward in VRN tokens, equal to a typical broker’s commission (up to 30% of the premium price). Tokens can be sold on an exchange or used for the purchase of
conventional and crypto insurance products!

And there is even more! “CryptoSafe”,a crypto product, only available through the Vernam platform. Each platform user will be able to purchase the “CryptoSafe”, which is a type of a smart contract, guaranteeing that when a defined set of events occurs, the client will be compensated with a certain amount of VRN. An intelligent way to create even safer environment!

Would you like to participate in the future of insurance NOW? In total 1 billion Vernam tokens will be created and 50% will be sold at the token sale event. The proceeds will be used to develop the blockchain platform and to implement the platform on key
markets, depending on size of the funds raised.

They unite the best of both worlds.Vernam platform users will be able to make conventional insurance through our own network of brokers, including Vernam company itself, and/or to purchase “CryptoSafe”, the newest and most innovative blockchain based insurance product that Vernam will introduce.

Team

TEAM
Roman Angelov
CEO, Co-founder
Dimitar Mitrev
Co-founder
Ivan Georgiev
Co-founder
Zhelyo Hristozov
Insurance Director
Borislav Stefanov
Business Developer
Vesselin Zahariev
Financial Expert
George Matev
General Legal Counsel
René Rosenberg
Business Developer
Angel Doraliyski
Strategic Planning
Ivan Manchev
Marketing Expert
Nadya Kaloyanova
Marketing Director
Venimir Petkov
Blockchain & Crypto Expert and Developer
Alexander Mihov
Blockchain developer
Sevgin Mustafov
Blockchain & Crypto Expert and Developer
George Spasov
Blockchain & Crypto Expert and Developer
Milen Radkov
Blockchain developer
ADVISOR

Simon Cocking
ICO advisor, Irish Tech News, CryptoCoin.News

Nathan Christian
Business Development Director

Yagub Rahimov
CEO/Co-founder of 7marketz Inc. Group
Ivan Todorov
Cybersecurity Expert

Milestones


  • Founders 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

Financial

Token
PlatformEthereum
Price in ICO1 VRN = 0.085 USD
Investment Info
AcceptingETH, BTC, USD
Tokens Distribution50% - Crowdsale
20% - CryptoSafe insurance fund
15% - Founders and team
7% - Advisors and ambassadors
5% - Liquidity pool
3% - Bounty and airdrop
Soft cap40,000,000 VRN
Hard cap500,000,000 VRN

Security

Legal entity

Registered Address: Sofia, Bulgaria

https://portal.kyckr.com/home.aspx

Prehistory of project

Prehistory of company was not found before 2017

Product or its MVP

There is a link for alpha of Vernam but no real information were found. According to the roadmap,  platform launch is planned for Q4 2018

Blockchain experience

Sevgin Mustafov – CEO of Global Academy Place, CTO & Solidity Developer at Global Invest Place

 

Venimir Petkov – CBDO at Global Academy Place, CEO of Global Invest Place

 

George Spasov – Blockchain Architect and CDO at LimeChain

 

Advisor Nick Todorov – CEO of LimeChain

 

Advisor Simon Cocking has a lot of experience in blockchain, all projects are listed in his profile

 

Advisor Nathan Christian has a lot of experience in blockchain, all projects are listed in his profile

 

Advisor Jason Hung – Advisor at Water to the WorldBeeSocialsGIZA Device and BitRewards

 

Advisor Yagub Rahimov has a lot of experience in blockchain, all projects are listed in his profile

Escrow

No escrow information were found

Comments

Update: 09.05.2018

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