About Pal Network (PAL)
PolicyPal Network is a platform created with a twofold idea of addressing key issues that overlap the areas of both insurance and crypto assets in the world today. Giving the unbanked the access to security with mutual aid insurance. Produces transparency, accessibility and expense savings to all stakeholders. Mitigate elements of conflict in traditional, centralized insurance models.
They envision a digital future where insurance and crypto assets seamlessly overlap without any friction. They aim to accomplish an end goal where crypto assets holders are sufficiently covered by insurance from cyber network hacks and reducing the barriers of entry for insurance to the emerging markets through peer-to-peer mutual aid insurance implemented on the blockchain
PAL Network will be the data platform where we aggregate various parties from token holders, trusted partners, insurers, insurer agents and third-party data sources into the ecosystem. The parties involved will carry out different activities to play a part in the growth of the ecosystem. In return, the parties involved will be incentivized with PAL Network Tokens for the work they have done.
PAL Network will aggregate the information of the consumers to underwrite the insurance policies, verify identity documents and process the claims payment. Third-party data sources
including hospitals, clinics, index weather statistics, death registries, and various authorities will be linked to PAL Network platform to automate claims payouts for the policyholders.
PolicyPal Singapore’s existing insurance partners and insurance agents can also play a part in the ecosystem by joining as the insurance product distributors. Token holders can contribute by suggesting new types of insurance products to be insured and assisting with the marketing of insurance policies among the community. The parties involved in helping to market and form the community can earn bonus PAL Network Tokens when the pool they helped to form has lower claim ratio as compared to the average claim ratio in the same city/state.