We will talk today about a quick review of the company’s policypal project in the field of electronic treaties. We will also explain what the idea of this project is, the advantages and disadvantages of this project, the timing of implementation of the project, the members involved and its support for electronic treaties
Project Name: Policypal Network
What does the company do?
Policypal, an unregulated platform based on a vision, is to grant non-bank access to insurance protection by reducing the barriers associated with traditional insurance coverage
With the use of plucheen technology, Policypal hopes to increase overall access to insurance and full network protection, while providing faster, safer and more transparent service
The company operates within Singapore and targets emerging markets overseas, and has two lines of action to launch
Encrypted Protection: Cybersecurity is in partnership with insurance companies to protect the assets of electronic treaties.
The encryption protection service will classified under the AA symbol by global insurance companies, thenby protecting the assets of emerging companies in the field of electronic currency mining
P2P Mutual Assistance: Policypal Network plans to provide a low barrier to entry, and the relative insurance coverage of communities that cannot access coverage includes agricultural products, property, and life insurance, as well as a personal accident plan
With plocin technology and 24-hour Policypal features, the network attempts to provide real-time transactions, transparency of information, automatic verification, auditing, full transaction history and improved efficiency
In addition, the network plans to reduce insurance fraud using intelligent contracts and reliable third-party data
How advanced is the project?
Policypal is a registered insurance broker in Singapore and works with international insurance companies such as Allianz, AIG, Aviva, AXA, Income, Etiqa, Manulife, Sompo, Liberty, Ergo, MSIG, Singapore Life, Tokio Marine and Chubb. , The network established with 32,000 users in Singapore for 12 months
In April 2016, Policypal selected by Singapore’s StartupbootcampFintech as one of the top 10 startups to be accelerated out of 400 emerging companies across Asia and the Pacific
In July 2017, Policypal selected as one of three start-ups selected by paypal for its nine-month Singapore-based program
After establishing the Policypal network, by a team with significant links in Asian insurance, has demonstrated its ability to innovate, and with a holder’s record of relevant topics under their hands, it is easy to grow Policypal network, and is a great success
Security is a major concern for individuals and institutions in the world of electronic treaties. Currency protection is the goal of this network, and should be fast-paced because it the intended users who already know and deal with encryption
The penetration rate of insurance is still very low for South-East Asia compared with other regions, and with the offers made by the network; banks will have time to sign insurance products and large potential.
As with any project that wants to develop it, get their BLOCKCHAIN, and with an uncertain development schedule, Policypal scheduled to released on the etherium network in the third quarter of 2018 but can be delayed
Although Policypal is an ongoing company already operating, but its own communication network does not yet have an Alpha prototype