Blicico is a platform aggregator that unites participants in the insurance market from various spheres beginning with life insurance. Blicico will take risk and insurance premium assessments from a subjective to an objective and more equitable model by using blockchain technology.
Blicico’s aggregator implementation will make it possible for insurance premiums to be paid exactly when they are most acute, and provide insurance companies with up-to-date, correct, and relevant information on the concerned assets and insured persons.
The Blicico platform includes aggregators of life, taxi passenger insurance, freight insurance, and other specialized modules of life insurance. Each of the tools it provides will greatly reduce insurance premium amounts and make it easier to make policy choices.
What Problems Does Blicico Solve?
Subjectivity of the Data
Insurance companies assess risks using modules and formulas, with risk assessment often being overestimated so as to prevent potential losses. Risk assessment of an insured person is subjective as there is no opportunity for the insurer to monitor the client. Also, when entering into a contract, customers may provide false information.
One solid example of inefficiency in insurance premium calculation is the use of increasing indices. If the activities or hobbies of a client lead to an increased risk, the insurance premium is increased by the insurer, even if the increased risk has an incidental nature.
Risk of Fraud
In the U.S, over $80 billion is lost annually due to insurance fraud, which translates to roughly 10% according to an evaluation by the US Coalition Against Insurance Fraud.
Blicico Ecosystem & BLC Token
The Blicico ecosystem comprises of several insurance products. One of the key components in the ecosystem is a distributed ledger technology and its innovative approach to solving the issues with regards to traditional insurance models. Insurance-related information can be accessed by the blockchain. It will define clearly the start and end terms of a policy while also being used for risk modeling, where multiple risks are split into separate variables, and fostering better premium calculations.
The Blicico ecosystem uses the BLC token. Token holders enjoy reduced costs for the insurance company’s tariff rate and can get a 35% discount when purchasing and paying for policies on the platform using BLC tokens. The company also offers a 5% bonus as added value when purchasing tokens, starting from 0.1 BTC at the time of IEO.
Blicico Will be Listing on Atomars
Blicico (BLC) has announced that it will be listing on Atomars on November 7th with the trading pairs BLC/BTC, BLC/ETH and BLC/USDT.
Atomars is a new digital assets trading platform on the cryptocurrency marketplace that is currently bridging the gap between fiat and cryptocurrencies. The Atomars platform is a fast, safe, secure and user-friendly platform that seeks to make trading easy for everyone. You can find any cryptos such as Bitcoin, Ethereum, USDT, Litecoin and more on the platform. They have a web and mobile app which makes it easy and fun trading on the go.