UMBRELLA COIN- FOR WHEN LIFE HAPPENS

Speaking of umbrella coin, its an insurance policy for next generation model for providing risk management for individuals and businesses. This insurance policy will be built on a decentralized, blockchain platform to avoid the fees and management costs associated with traditional insurance companies. The aim of umbrella’s policy is to cut out middle men and stop overpaying for coverage. The goal of umbrella coin is to make umbrella’s token viable for standard benefit payouts and later expand to full insurance policies.

The Concept of umbrella coin is insurance. Speaking of insurance, is a financial contract by which the buyer is protected from financial responsibility in the case of an emergency or unexpected life-event. There are lot of terms which works alongside insurance policy. i’m going to be discussing them.

Middlemen are agents that are licence to selling insurance and they tend to make commission out of the sale of insurance which is part of what umbrella coin is here to fight for. Middlemen gaining profit off sale of insurance policy tends to increase its cost of purchase. Also one thing i want you to understand is the fact that insurance is sold based on the forseen risk of the policy holder. Based on perceived risk, or previous insurance claims, policyholders may be viewed as a greater liability and forced to pay more. with time, rates increase for car insurance and life insurance as you are prone to risk.

PROBLEM FACED IN TERMS OF INSURANCE

• commission of insurance sale by middlemen (agents),thereby increasing the cost of insurance policy purchase.
• High premiums as a result of perceived risks.
• Insurance companies collecting the gowth and interest on policyholder money instead of the policyholder themselves.
• cost of deductibles.

NOW,HOW WILL THE UMBRELLA TOKEN OPERATE
The UMC will operate with coin holders acting as both policyholders and insurer, essentially combining the role of the traditional format. Now note this;UMCis not tying to replace insurance, but complementing insurance initially as its not insurance.

UMC is a platform to ensure after the high premiums of insurance, customers aren’t left with high out-of-pocket costs. This applies to all form of insurance whether it be health, automobile, life, property. UMC is seeking to disrupt the hidden finances of carrying an existing insurance policy.


ABOUT UMC WALLET

UMC ROADMAP

No exception Ico that I will currently discuss Umbrella coin.
Umbrella coin is present in the world of cryptocurrency with the same technology based. Full commitment and aims to provide investment vehicles for token holders to take advantage of any things that can happen in life. So it can be concluded as a blockchain-based insurance.

When premiums for Property / Casualty (P / C) and Life / Health (L / H) increase, policyholders are required to pay hidden fees such as deductibles, co-insurance, and co-pays. In America, avoiding the use of L / H insurance, such as visiting doctors, as these hidden charges are very common, while people actively avoid filing P / C claims to avoid tariff increases. this could be wrong if the entire industry is established by not using the services they provide. UMC believes blockchain technology built on decentralized networks can change this forever.

ABOUT UMC ICO

Crowdfund Start Date: 20 August 2017 12:00 UTC
Crowdfund End Date: 20 October 2017 12:00 UTC
Issuance of UMC Tokens: 100 000 000 Tokens
Exchange rate: 600 UMC = 1 ETH.
Minimum transaction amount: 60 UMC (0.1 ETH)
Maximum transaction amount: 1 800 000 UMC (3 000 ETH)
Bonuses: for the first 5000 ETH raised, a 100% bonus will be given
Bounty: 1 200 000 Tokens (1.2% of issuance)
Total Sale goal: 100 000 ETH
Minimal Sale goal: 5 000 ETH Token
distribution rules:

• 68.8% (68 million tokens) will be available to participants
• 20% (20 million tokens) will be allocated to the UMC trust and will be used to build a preliminary float pool.
• 10% (10 million tokens) will be distributed among team members
• All collected funds shall be received and stored on wallets with multi-signatures.

With a combined team of two decades of experience in the insurance industry, including in companies such as The Hartford, and a development team composed of Microsoft engineers. It seems very promising to participate in menyuport this project of course many benefits to be achieved.

For more information please visit the related link below:

WEBSITE: https: //www.umbrellacoin.org

WHITEPAPER: https: //github.com/umbrellacoin/umc/blob/master/documents/UMC.pdf

TWITTER: https: //twitter.com/umbrellacoin

REDDIT: https: //www.reddit.com/r/UmbrellaCoin/

DISCORD: https: //discordapp.com/invite/mwKSgTK

BLOG: https: //medium.com/@umbrellacoin

FACEBOOK: https: //www.facebook.com/umbrellacoin/

culun86: https://bitcointalk.org/index.php?action=profile;u=1096996