They are building a token on the Ethereum blockchain to provide insurance benefits for hidden costs of insurance (deductibles, co-insurance, co-pays etc.). They plan for the policy/claim system to be completely democratized. This model allows them to eliminate many of the fees, overhead and claims delays that exist with existing insurance companies and cover claims traditional insurance companies do not.
Project DescriptionUMC is built on the UMC network. The UMC network carries an unspecified amount of UMC to handle benefits payouts. This pool acts as float. Traditional insurance companies take money from premiums and immediately invest it. UMC allows you to own a stake in the network float and be involved in the payout process.Team:Terry Tata: President and CEORoshan Parikh: Lead Blockchain DeveloperDavid Lackey: Software ArchitectElizabeth Sternhell: Senior Software EngineerForrest Whitehouse: Chief Softwaree EngineerChristopher Fong: Backend Software EngineerDavid Arnold: Marketing and SalesAlexander Vargas: Marketing and SalesToken reserve split (31.2%) -20% float pool10% Team1.2% Bounty
Founders and Associates
Ryan Sweet -CEO
Chris Fong -Backend Software Engineer
Alexander Vargas -Chief of Marketing and Sales
Nick Guerrera -Operations Manager
Brandon Sweet - Insurance Advisor
Conrad Membrino -Senior Insurance Advisor
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