PolicyPal Network to offer insurance products to QTUM

SINGAPORE, May 10, 2018 /PRNewswire/ -- Insurance Blockchain company collaborate with QTUM, an open source Blockchain project.

PolicyPal Network is proud to announce that they are in discussions to collaborate with QTUM, a trailblazer in the Blockchain space who is ranked on CoinMarketCap at 18th position:

1) CryptoProtect for QTUM Wallet

PolicyPal Network has firmed up a partnership with a global insurer (currently under Non-Disclosure Agreement) to underwrite CryptoProtect insurance for QTUM wallet providers to offer further assurance and a greater peace of mind.

This CryptoProtect insurance will cover:

• Cyber security insurance
• 3rd party losses
• Data breach

2) Decentralised insurance for QTUM Wallet users

To enable this decentralised insurance distribution, PolicyPal Network is tying up with various insurance providers to offer insurance with automated claims process. For instance, we have announced our partnership with FWD -- owned by Richard Li (son of Li Ka Shing).

At the first stage of the launch, PolicyPal Network will be distributing the B2C products to QTUM holders and they cn obtain insurance on the wallet at a discounted rate. QTUM will be the front end for distribution.

Following that, PolicyPal Network will build and develop PolicyPal Network Blockchain based off a private fork of Ethereum codebase which will be tailored for the insurance products across multiple markets.

PolicyPal network will be integrated with our distribution partners and insurers which will be processing and owning the data of various countries' insurance premiums, claims ratio and demographic profiles. 

About Qtum

Qtum is an open source Blockchain project that is developed by the Singapore-based Qtum Foundation. Qtum is a hybrid blockchain application platform. Qtum's core technology combines a fork of bitcoin core, an Account Abstraction Layer allowing for multiple Virtual Machines including the Ethereum Virtual Machine (EVM) and Proof-of-Stake consensus aimed at tackling industry use cases.

About PolicyPal Singapore

PolicyPal Singapore is a Singapore-registered insurance broker and exempted financial advisor, and was the first startup to graduate from the Monetary Authority of Singapore's financial technology sandbox and partners with 16 global insurance companies.

About PolicyPal Network

PolicyPal Network aims to harness the advancements in the field of blockchain technology to bridge the gap between consumers and insurance providers by providing  new level of accessibility to the insurance ecosystem.

Further Reading for PolicyPal Network:

Website: https://policypal.network 
Telegram: https://t.me/policypalnetwork 
Twitter: https://twitter.com/PolicyPalNET 
Blog: https://medium.com/@policypalnet 
Whitepaper: https://www.policypal.network/whitepaper 
LinkedIn: https://www.linkedin.com/company/policypal-network/ 

Logo - https://photos.prnasia.com/prnh/20180510/2129918-1LOGO

SOURCE PolicyPal Network

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