The world’s first 0% commission insurance on the blockchain.
Vernam utilizes blockchain technology to provide:
- Competitive online marketplace for conventional insurance products by the biggest insurance companies
- Generous 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
HOW THE VERNAM PLATFORM WORKS
Further down in our timeline is the development of our own digital insurance product, called CryptoSafe (CS). Making use of smart contracts, CS will guarantee that when a defined set of events occurs, the client will be compensated with a certain amount of Vernam Tokens (VRN).
CS will have a few advantages over standard insurance including:
- End-to-end digital process — fast & automated
- Smart contract — guaranteed correctness towards the client
- Transparent premiums and coverage policy
- When no damage is claimed, the CS smart contract will return a defined percentage of the premium to the client
We’ve beyond excited to start revolutionizing insurance. Will you join us and help make transparent, secure, automated insurance a reality?
While improving insurance as a product is all very exciting, new tech is beckoning an even bigger change — not just of the product, but of the landscape. This is where the Project comes in.
Our goal is to change the insurance system itself, by making it more transparent, democratic, and more financially beneficial to the end-users. Right now, the insurance industry is highly inefficient, and the insured are mostly paying for insurance distributions — not claims.
Vernam is about to disrupt this system by taking out the middle men. We’re building a marketplace for insurance directly connecting insurers and people who’d like to be insured. Тhat actually makes us pretty special.