Insurance is one part of financial industry that is more prudent to fraud and there is a substantial percent of decision makers in the industry that are really concerned with fraud.
Kuverit will provide application that will allow anyone with internet access to get into the P2P relationship with anybody and receive guarantee for any two-way transaction. Process is really simple – one need to create an account, enter details of the transaction that needs guarantee for and post request for a guarantor to all users of the application. Guarantor will select that transaction, financial details of the transaction, accept it and application will create smart contract between guarantor, client and customer.
Of course, there will be possible for a customer to fill a claim, and client and guarantor are automatically alerted. All processes are within the app. Client has the right to provide evidence to dispute the claim, and total time period for provision of supporting documents is 72 hours. Based on supporting documents and a claim, voting board, which comprise users with 500+ KUV tokens can vote and provide decentralized decision on a claim.
Full insurance company status shall be obtained on Malta, and from there will start to deploy office in London.
Total number of KUV tokens for sale is 2525252525 tokens, total number is 5.5 billion. Softcap is set on 250 million tokens, which is based on a large amount of money, needed to establish a respectable business.