Summary

Project Name : InsureX

: InsureX Token ticker : IXT

: IXT Website : http://www.insurex.co/

: http://www.insurex.co/ Whitepaper: http://www.insurex.co/wp-content/uploads/2017/05/insurex_whitepaper.pdf

Hard cap : 83,778 ETH (ICO contributors own 77% of total token supply if hard cap is reached)

: 83,778 ETH (ICO contributors own 77% of total token supply if hard cap is reached) Soft Cap : 2,222 ETH

: 2,222 ETH Conversion rate : 1,125 IXT per 1 ETH

: 1,125 IXT per 1 ETH ​ Maximum market cap at ICO : US$34 million at current ETH price of $315

: US$34 million at current ETH price of $315 ​ Bonus structure : 36% bonus for first 1,634 ETH, 20% bonus for next 1,852 ETH, 15% bonus for next 15,456 ETH, 9% bonus for next 20,392 ETH

: 36% bonus for first 1,634 ETH, 20% bonus for next 1,852 ETH, 15% bonus for next 15,456 ETH, 9% bonus for next 20,392 ETH ​ ERC20 token : Yes

: Yes Timeline : July 11 to July 31 (please refer to InsureX’s crowdsale page for most up-to-date information)

: July 11 to July 31 (please refer to InsureX’s crowdsale page for most up-to-date information) Token distribution date : 3-4 weeks after the token sale

Project Overview What does ﻿the ﻿﻿project do? Based in London, InsureX’s goal is to create a new, alternative insurance marketplace that disrupts the current inefficiency system in the insurance industry. The InsureX platform uses blockchain technology to streamline the process between buyers and sellers of insurance products. The platform also allows managing the downstream processes related to programs, policies, premiums and claims. Target users of InsureX's platform include reinsurers, insurers, brokers, and general companies. Key features of InsureX’s platform: List and market insurance products Insurance products can be listed to a public audience or limited to a selected group of buyers only. A product listing includes the key characteristics and potentially targets specific regions and markets. Transaction Execution When the parties have agreed on the terms, a transaction is added to the distributed ledger. Because of the shared nature of blockchain, there is no need for a third party to verify and confirm the transaction. Participants in the transaction who have the right permissions will be able to see the same information in real-time. Portfolio Management InsureX’s portfolio functionality allows users to get an overview of the transactions executed and a summary view of key metrics. High-level information such as risk, premium, claims and performance information is available and can be visualized and exported. Market Insights InsureX can provide a detailed overview of market activity across regions, market sectors, exposures etc. Introduction video of InsureX (video is 2:06 long):

How advanced ﻿is ﻿the project? The project is just starting out. They have a local team developing the platform. However, they don’t have a prototype or MVP yet. InsureX will use 70% of the ICO funding on team expansion, the majority of which will be on hiring software developers. Here is the roadmap for the project: Q2 - 2017:

R&D. Research into blockchain technology and insurance markets.

Prototype. The development team starts to work on a first prototype of the product.

Establish partnerships. Establish relationships with people from the insurance and blockchain industry.

Q3 - 2017:

Funding. Launching of the crowdsale campaign.

Team expansion. InsureX will expand the development team and hire experts in the insurance and development sectors.

MVP. Fully functional version of the platform with minimal functionality.

Q4 - 2017:

Sign up 10 clients. Having 10 clients using the platform in daily operation.

Extend downstream processes.

Service organization. Set up a support team to help clients.

General availability. Initial version available for all the client.

Q1 - 2018:

Go to market. Establish a sales and support organization.

Scale the platform. Ensure the platform can scale up.

How can token ﻿holders ﻿make money? IXT serves as the currency for the InsureX platform and fuels all the activities that happen on the platform. Hence, the success of the token hinges on whether the platform can succeed and capture a significant market share in the insurance industry. InsureX charges a commission on transactions being executed on the marketplace and an annual subscription for memberships. As the InsureX community grows, the transaction volumes will increase and new products and services will be available. Each activity on the platform has an associated cost specified in IXT. Examples of token transactions include:

Transaction execution reward

Reward for providing data

Platform access

API licences

Of all fees collected by the platform, a portion is burnt. This introduces a predictable and effective reward structure for using IXT. The remainder is reinvested in the operation and growth of the platform.

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Team InsureX has a small team of 6, 3 of whom are co-founders. The co-founders have a strong background in their respective field. Ingemar Svensson, Founder & CEO/CTO – Before founding InsureX, Ingemar was the CTO of Risk and Valuation at SunGard Asset Management. His experience ranges from managing large organizations to hands-on software development. Ingemar has spent 20 years building mission critical systems in various roles at Bank of America Merrill Lynch, Barclays Capital, Lehman Brothers and Mitsui Sumitomo Insurance. Cristina Dolan, Co-founder & COO – Cristina is an MIT Media Lab alumna with over two decades of experience building software, content, and Internet based products and businesses. She was a co-founder of OneMain.com, which grew to be the 10th largest ISP and was acquired by Earthlink. She is a member of Forbes Technology Council and in 2016 was judge at the IBM Blockchain Hackathon. Mikael Olofsson, Co-founder – Mikael has over 17 years of experience from the financial markets and start-up sector. Previous to founding InsureX, he was Co-founder of TikkR.co, an on-demand insurance platform. Before this, Mikael worked as Senior Equity Derivatives Broker and Commodities Broker in London, New York, Geneva and Paris.

Opportunities The project has some strong team members and advisors, including the Chief Underwriter for General Re in Europe.

Gen Re is one of the largest insurance companies in the world with $5.6 billion of premium in 2016. It is also a member of the Berkshire Hathaway group of companies. If Gen Re becomes one of the first companies to use InsureX’s platform, it can be a lot easier for other insurance companies to follow suit.

There is a genuine need for decentralized platform to improve efficiency of the entire process in the insurance industry.

The insurance industry is currently manual, paper heavy, slow, and error-prone, which allows a lot of room for blockchain technology to disrupt the industry.

There is a network effect in play for this project – the bigger this platform is, the more attractive it is for other insurance companies to join the marketplace.

The project doesn’t really have a direct competitor now:

Etherisc can be complementary to InsureX’s platform.

ACORD’s partnership with R3 can be complementary to InsureX’s platform and InsureX has a strong connection to R3.

Lemonade is B2C vs. InsureX’s B2B focus.

Concerns The project is nothing but an idea now – there is no completed product to show for. Even if everything goes according to plan, they won’t begin signing up clients until Q4 2017. You need to trust that the team will be able to deliver.

The CEO of InsureX is also listed as the founder of another startup, Finserve. It is unclear how he will allocate his time between the two ventures.

Conclusion