PolicyPal Network is a platform built with a twofold vision of addressing key issues that overlap the fields of both insurance and cryptoassets in the world today.
Powering the decentralised insurance network across different countries
- Smart Insurance Contracts – weather condition triggers, fraud detection, pricing algorithm adjustments, claims submission and payout.
- Instant settlement and issuance of policies.
- Secured blockchain design for privacy to protect sensitive policyholder details.
“We envision a digital future where insurance and cryptoassets seamlessly overlap without any friction. We aim to achieve an end goal where cryptoassets holders are adequately covered by insurance from cyber network hacks and reducing the barriers of entry for insurance to the emerging markets through peer-to-peer mutual aid insurance implemented on the blockchain. ”
Positives -
- The Team Behind PolicyPal Have an Incredible Amount of Experience in Areas That Are Vital to This Type of Platform. The Team Has Experience with Companies Such as Allianz, Citibank, PWC and SAP to Name a Few. The Team Is One of PolicyPals Major Strengths.
- PolicyPal Is One of the Three Startups Selected by Paypal for Their Nine-month Incubation Programme Based in Singapore. This Speaks Volumes for the Amount of Confidence Large Companies like Paypal Have in PolicyPal. Regardless of How You Feel about Paypal and Their Stance on Cryptocurrencies, the Fact That They Are Incubating a Blockchain Project Shows That They’re Serious.
Concerns -
- The PolicyPal Github Looks Pretty Empty at the Time of Writing (May 13, 2018). From What We Can See, the Only Repositories Available for Viewing Are to Do with the ICO Contract and Token Sale. No Updates since the 27th of March. It Is Completely Possible That the Team Are Protecting Their Code from Competitors by Developing Privately. Not a Huge Concern but Something to Keep an Eye On.
- Like Any Project Looking to Disrupt Large Industries Such as Insurance, PolicyPal Will Have to Jump Hurdles That the Current Leaders Put up to Protect Their Centralized Business Models. The Team Here Are Experienced Enough to Know This and No Doubt Have a Plan to Work Around These Hurdles. Investors Should Follow the Roadmap but Understand That Things May End up Taking Longer Due to Delays. Not a Huge Concern for PolicyPal, Just a General Concern Due to the Enormity of the Industry They Are Working In.
Official PolicyPal Links -