World’s first risk Trading and Crypto Reinsurance Platform — UnoRe
Reinsurance is basically providing insurance to the insurer. Insurance can be considered a profitable business until a single claim destroys all its premiums that were collected. In this case, Reinsurance can provide them with an additional layer of security cutting down their losses.
We will be exploring about UnoRe which is the first to bring reinsurance and risk trading in the crypto industry.
What is UnoRe ?
Reinsurance is the mechanism that insurance companies use to lower their risk or reduce their exposure to a specific catastrophic event. Just as a homeowner or auto insurance policy reduces the amount of cash a person must have on hand to pay for a new car after an accident or rebuild a home after a hurricane, a reinsurance contract can protect an insurance company against significant losses. Crypto insurance protocols have long been underserved in terms of reinsurance. UnoRe aims to take the first step in resolving this scarcity of appropriate secondary coverage that most conventional insurance protocols can afford. By Reinsuring, UnoRe will provide any insurance provider with the second layer of protection to supplement their reserves, thus ensuring they remain competitive and creative vanguard.
Broader View of Reinsurance
The reinsurance industry is seeing a seaming growth in its market over the past years. According to the above chart, global reinsurer capital rose by 7% to $625 billion in 2019. This is undoubtedly making space for new players to get onboard.
Reinsurance companies have proved to have a very minimal risk while at the same time generating consistent wealth, making it a perfect investment for investors.
Features Of UnoRe
- Accessibility: The traditional insurance market is usually exclusive due to the large capital requirements, excluding those with less capital and smaller investors. With UnoRe, much less money needs to be invested in buying into the market, and these smaller investors also have the opportunity to return on their initial investment.
- Based on Web 3.0: UnoRe is using Web3 Technology is the next stage of the web evolution. It makes the internet more intelligent or processes information with near-human-like intelligence through the power of AI systems that could run innovative programs to assist users.
- Mobile platform: UnoRe has an innovative app that can help users get deals anytime and anywhere hassle-free.
- Native token: The UnoRe ecosystem uses UNO token, which is used for trading purposes and serves as a base currency to perform all the ecosystem features.
- Ecosystem governance: Using multiple smart contracts, the governance body will be responsible for deciding rewards and penalties for claim assessors and identifying the malpractices that might occur. It will be handed over to the community based on individual claims experience, frequency, and seniority in the platform. Community members need to stake their UNO tokens to govern the pool groups and claim assessors.
UnoRe Ecosystem
UnoRe for Trader — One could access a market for trading risk, bringing a new asset class to the market
UnoRe for investor — One could access an asset class with a high risk to reward ratio without any capital requirement.
UnoRe for Innovator — Traditional insurance isn’t able to fulfill everyone's needs; with UnoRe, one could build innovative new-age products.
How does UnoRe Platform Work ?
Claim Assessment Process
Roadmap
Tokenomics
IDO Details
Polkastarter is one of the largest IDO platforms in the crypto industry where UnoRe public sale will be conducted. Here are a few details —
- Date: 28th April
- Token Price: US$0.12 / $UNO
- Whitelisted Participants: 1050 applicants (525 for Public pool / 525 for POLS pool)
- Max allocation per individual: US $250
Backers
Unore received investments from some of the most prominent blockchain-based investment firms in the market, including MoonRock Capital, Spykefast Capital, Black Edge Capital, NGC ventures, BlackPact Capital, THREE M CAPITAL, MORNINGSTAR ventures, Blocksync Ventures, Sky Ventures, Propeller, KYROS ventures, Insignius Capital, Fomocraft Ventures, HRONOS Ventures, Psquare Capital, FAIRUM and PHOENIX.IO.
SENTIMENTS
Hype Rating — HIGH
Team Rating — HIGH
Investor’s Rating — HIGH
Public IDO rating — HIGH
Conclusion
UnoRe is looking forward to disrupting the reinsurance industry which has been growing seamlessly and providing new players to get in. It’s the first crypto platform to bring reinsurance and risk trading make it unique which is gathering a lot of attention. Overall the project has huge potential and surely can make its name on the market.
Website:-https://www.unore.io/
Telegram:- http://t.me/UnoReinsure
Twitter:-https://twitter.com/melalienetwork
Github:-https://github.com/PolkaRe