Teambrella Wants to Revolutionize Insurance Coverage With Peer-To-Peer Bitcoin Payments
Russian software architects and entrepreneurs Alex Paperno, Eugene Porubaev and Vlad Kravchuk plan to take the insurance company out of insurance. Their Teambrella, a Bitcoin-based peer-to-peer insurance platform, allows users to provide each other coverage for whatever they want, however they want, and without requiring any trusted intermediaries.....
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Teambrella, a peer-to-peer insurance system that utilizes bitcoin wallets and multi-signature addresses, recently released a demo on its website to show how the self-insurance system works. Teambrella uses bitcoin multi-signature addresses to allow users to manage the flow of funds in a trustless, decentralized way. It will initially offer supplemental coverage for collision car insurance and pet veterinary insurance, with more types to come. Members Insure Each Other. Under Teambrella, users insure each other. They retain control over their own funds at all times. Reputation systems....
Teambrella, the innovative Bitcoin-based peer-to-peer insurance company, recently released a demo-version of its service. In anticipation of the product launch, anyone can now experience what Teambrella will look like and test how it will work. To gauge the process on Teambrella, Bitcoin Magazine spoke with Alex Paperno, one of three developers behind the project. The demo’s purpose “is somewhat similar to a Minimum Viable Product: to gather input from potential users which we use to improve the platform before we launch,” said Paperno. Teambrella is set to become the first decentralized....
Various aspects of the financial sector need to be made more transparent. Teambrella aims to become a peer-to-peer insurance service utilizing Bitcoin and blockchain technology, giving users full control over all aspects of finance. Anyone who has ever dealt with an insurance company in their life will have noticed the experience is not all that....
Organisations looking to minimize the risks associated with bitcoin can now obtain virtual currency insurance coverage courtesy of Great American Insurance Group. The company's crime policies currently do not cover what it calls "virtual peer-to-peer mediums of exchange". As such, a new form of protective coverage has been made available through its Fidelity/Crime Division to both commercial and government policyholders. Great American explained its decision, stating: "Standard crime insurance policies, including Great American's crime policy, currently do not automatically provide....
They did say that 2014 was the year of bitcoin business adoption, didn't they? Freshly announced: Great American Insurance Group's Fidelity/Crime Division has announced on Monday that they are among the first in the industry to offer commercial coverage (for government entities, too) for bitcoins "as part of its ongoing commitment to meet the evolving needs of its customers." The company writes: Standard crime insurance policies, including Great American's crime policy, currently do not automatically provide coverage for virtual peer-to-peer mediums of exchange. Crime insurance coverage....