What is VERNAM?
Vernam utilizes blockchain technology to provide:
Competitive online marketplace for conventional insurance products by the biggest insurance companiesGenerous 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
$ 4.73 trillion Total addressable market
More than 90% Of the total insurance revenues come from North America, Europe and Asia
Up to 30% Of the traditional insurance policy price goes for broker commission
60% Of millennials already adopting online insurance
Up to 30% Sector efficiency improvement opportunity
0% commision insurance
Clients, purchasing conventional insurance through the Vernam platform will receive a cashback reward, equal to a typical broker’s commission (up to 30% of the premium price) in VRN tokens.
CryptoSafe Smart Contract
Every client will be able to sign the “CryptoSafe” smart contract, free of commission, guaranteeing that when a defined set of events occur, the client will be compensated.
Vernam VRN token
To take full advantage of the platform we will introduce the Vernam token (VRN), an Ethereum-based ERC20 standard non-minable utility token that can be obtained on our crowdsale.
All insurance processes on the platform will operate with VRN tokens, generating a constant demand and rising price of the VRN token.
Secure and Transparent
The use of a shared ledger will prevent any possibility for data manipulation, increasing transparency and minimizing transaction costs.
Part of our team are key figures and companies with more than 20 years of experience in managing, developing and working in all fields of the insurance industry combined with top blockchain and crypto experts.
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
- Large and verifiable team with a lot of industry experts
- Realistic roadmap considering the large team and relatively high hard cap for funding
- Few relevant partnerships presented
- When paying your insurance with VRN Tokens you don’t need to pay the broker's fee which could be as high as 20-30%
- Hard cap seems a bit too high considering that only 50% of tokens are sold to investors