I-Chain is a blockchain-based platform that seeks to provide worldwide customers with insurance services that are reliable, transparent, and easily accessible. The platform will also develop a business ecosystem that is responsible for the creation and operation of insurance products that will benefit the global business community.

The platform implements blockchain technology in order to automate the insurance business, maintain maximum transparency within the insurance industry worldwide, and guarantee cross-border availability through technology to improve insurance products. Blockchain technology will also facilitate availability of blockchain solutions through launching of comprehensive blockchain products that will benefit everyone not just the professionals.

I-Chain will ensure the affordability of new insurance products by offering consumers with cost efficient and customized products and by simplifying the sign up process, decision-making, transparency, and calculation of risks. This feature will eliminate the barriers to entry in the insurance industry thus enabling more players to join the market. Additionally, it will enable insurance companies to lower their costs, which will result in the companies attracting more customers and consumers of their products.

The platform enables users to develop open blockchain insurance products by collaborating with I-Chain to launch their own insurance products worldwide. The platform will control risks to minimize the overall risks that the users are likely to face when launching their products therefore avoiding an insurance crisis. Apart from the minimized risks, the users will also save on operational costs by using I-Chain’s inbuilt functionality.

Micro-businesses will also benefit from the platform since the will have the opportunity to provide services such as call center in a specific language or expertise in certain areas to the users of I-Chain. Individuals can also provide services to other platform users. The services include insurance brokerage and emergency commissioning.

The platform features a marketplace where freelance software developers can sell their applications, products, or services to insurance companies. The marketplace will promote the growth of the insurance industry and make it more affordable to all type of customers.

To access the services of the I-Chain platform, users need to own the ICHN Utility token. The token will confirm transactions, run call center (specific geography and language), Support specific business process (i.e. claim management for specific product), Run sales office and many more. Token holders can earn additional tokens by downloading and using i-chain platform node.

I-Chain reduces the over reliance on centralized market infrastructures and creates the need for new regulations and controls within the industry.

Through the implementation of blockchain technology, transparency is maintained at all levels of the transaction. This will eliminate fraud and increase the speed and efficiency of insurance transactions.

The platform encourages innovation as it has features that enable the introduction of new insurance products and services in the insurance industry.

Since sharing of data on the platform is possible, buyers can manage and finance risks more efficiently while insurers can adjust their prices accordingly and manage claims recoveries.

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