Review on ShineChain by yosmal herrera
digital platform for non-custodial life insurance trading
Being affiliated with a life insurance contract means putting the need to use it first in the event of a personal loss or being under conditions of vulnerability in terms of health.
We do not always enjoy this benefit or we can have this prevention; due to the high cost of hiring an insurance policy.
ShineChain provides the opportunity for users to enjoy life insurance coverage, affordably and transparently; thanks to the implementation of blockchain technology in the insurance market. This has generated positive consequences in different directions:
Users:
• People from any part of the world are free to quote and take out insurance policies to protect their health and life.
• Reduced cost of insurance premiums, due to the use of the SHE currency that serves as an instrument of value within the insurance ecosystem, which is governed by the law of supply and demand to control its price
• Does not require payment of commissions to intermediaries
Insurance agents:
• Access to a global market without custody to attract potential clients
• Elimination of brokerage costs
• Efficient payment processing, thanks to the use of a secure currency that uses smart contracts in insurance services
ShineChain creates a global network of non-custodial commerce and services that guarantees the assistance of all members of the insurance ecosystem.
Pros
- Promotes the massive incorporation of people into the insurance system
- Accessible for people with different incomes
- Provides transparency in business operations
- Honesty in the provision of information
Cons
- Ecosystem still in development process
