“Blockchain provides a new way of building Software. – InsureX”

InsureX took the time to answer one of our Whats Fizzing Q&A’s. Their team is attempting to innovate how Insurance is bought and sold by utilizing blockchain technology. As we all know, every sector in existence is constantly evolving. The question is, how much is the blockchain speeding up this process and what does the future hold?

If you are a techie like me, seeing the endless possibilities, you cannot help to have that little kid night before christmas feeling. Only in this case, the presents under the tree haven’t even been developed, and some, even thought of yet. With all of these possibilities, who can predict the future? Take look at what InsureX had to say.

 

What is InsureX?
InsureX is creating an alternative marketplace for insurance products. Our goal is to transform the way the market trades and manages insurance products. We offer a disruptive environment which will be beneficial to the currently outdated insurance sector. Participants in this marketplace are able to transact business in a highly efficient, secure and consistent manner with easy access to historical data and valuable market insight. The InsureX platform uses blockchain technology to streamline the process between buyers and sellers of insurance products. Not only does it provide a place to find and trade insurance, but a platform to manage the downstream processes related to programs, policies, premiums and claims.

 

What inspired you to create this technology?
Our insurance customers and partners expressed a strong wish to look at alternative approaches both in terms of technology and process.

 

How is your technology different form what is already on the market?
Innovative and fundamental integration with blockchain technology sets us apart from many other insurance solutions available.

 

What’s the most important thing your team is working on right now, and how are you making it happen?
Data privacy and blockchain performance are two areas critical to our platform. Extensive research and prototyping are being conducted to make sure we are ready.

 

What characteristics do you look for when choosing your team?
A great sense of engineering principles and understanding the value in having a team supporting you.

 

What is the biggest mistake most blockchain entrepreneurs make?
Making it all about the blockchain rather than the business problem they are trying to solve.

 

What excites you the most about the blockchain?
Blockchain provides a new way of building Software. The most important benefits with the implementation of blockchain technology are: high quality data, disintermediation & trustless exchanges, process integrity, transparency and immutability, lower transaction cost, durability. reliability and longevity. Working around this cutting edge technology gives us a lot of challenges.

 

What is some of the best advice you have received on Investing?
Better to have a small share of something big than having everything of something small.

 

If you were to invest in one cryptocurrency, besides your own, which would it be and why?
Ethereum, it has not reached its peak and I am very bullish on its future.

 

What is your favorite Quote?
Success is not final, failure is not fatal: it is the courage to continue that counts. – Winston Churchill

 

What are you expecting for the future of InsureX?
We plan to add many insurer, reinsurer and brokers to our platform and become a standard for insurance contracts.

 

InsureX

Thanks,

Jay – Connect with me

The InsureX ICO runs from July 11th – July 31st 2017.