The future of insurance

The World's First 0% commission insurance on blockchain

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WHAT IS VERNAM

A new generation of insurance process
on the blockchain.

Vernam utilizes blockchain technology to provide:

  • Competitive online marketplace for conventional insurance products by the biggest insurance companies
  • Generous compensation - up to 30% of the policy premium in Vernam tokens (VRN) is returned to clients
  • “CryptoSafe” - a smart contract, guaranteeing that when a defined set of events occur, the client will be compensated with a certain amount of Vernam Tokens (VRN). The newest and most innovative blockchain based insurance product that Vernam will introduce

$ 4.73 trillion
Total addressable market

More than 90%
Of the total insurance revenues come from North America, Europe and Asia

Up to 30%
Of the traditional insurance policy price goes for broker commission

60%
Of millennials already adopting online insurance

Up to 30%
Sector efficiency improvement opportunity thanks to blockchain and smart contracts

0% commision
insurance


Clients, purchasing conventional insurance through the Vernam platform will receive a cashback reward, equal to a typical broker’s commission (up to 30% of the premium price) in VRN tokens.

CryptoSafe
Smart Contract


Every client will be able to sign the “CryptoSafe” smart contract, free of commission, guaranteeing that when a defined set of events occur, the client will be compensated.

Vernam VRN
token


To take full advantage of the platform we will introduce the Vernam token (VRN), an Ethereum-based ERC20 standard non-minable utility token that can be obtained on our crowdsale.

Constant
demand


All insurance processes on the platform will operate with VRN tokens, generating a constant demand and rising price of the VRN token.

Secure and
Transparent


The use of a shared ledger will prevent any possibility for data manipulation, increasing transparency and minimizing transaction costs.

Industry Know-how


Part of our team are key figures and companies with more than 20 years of experience in managing, developing and working in all fields of the insurance industry combined with top blockchain and crypto experts.

How the Vernam platform works

Purchasing conventional insurance with fiat money on the Vernam platform

Purchasing conventional insurance with fiat money on the Vernam platform
How the Vernam platform works

Purchasing conventional insurance with VRN tokens on the Vernam platform

Purchasing conventional insurance with VRN tokens on the Vernam platform
How the Vernam platform works

Purchasing CryptoSafe on the Vernam platform

Purchasing CryptoSafe on the Vernam platform
What we are planning

Company Roadmap

2017

Founders joined efforts to change the insurance industry and started building the Vernam concept.

January 2018

Concept was validated by experienced InsurTech executives, who later joined the team.

February 2018

Angel investment received, start of platform development

March 2018

Start of the preparation for a token sale

Q3 2018

Listed on an exchange

Q4 2018

Vernam platform MVP launch and testing

Q1 2019

Vernam broker starting operation in several markets

Q2 2019

First CryptoSafe smart contracts signed. Vernam mobile app launch

Q3 2019

Development of additional smart contract insurance products

2020

Operating on 8+ key European markets

Token Allocation

  • Start of token crowdsale: 15 May 2018
  • Token symbol: VRN
  • Type: ERC-20
  • Total token supply: 1.000.000.000 VRN
  • New token will never be created
  • Soft Cap: 40.000.000 VRN
  • Hard Cap: 500.000.000 VRN
  • Minimum transaction amount: 0.1 ETH, 0.01 BTC, 1000 USD
  • 1 VRN = 0.051 - 0.085 USD
  • 1 ETH = 800 USD
  • The unsold tokens will be burned
Use of proceeds
VRN token distribution

Use of Proceeds

Marketing is a critical field for the platform’s success and “Insurtech” is one of the most expensive industries in terms of marketing costs.

Legal and administrative fees will be substantial, given the platform’s target of registering brokers in covering 8 countries by the end of 2020.

A key element for the project will be the platform development (blockchain platform,desktop and mobile clients)

The remaining funds will be used for network development (i.e. negotiating initial broker collaboration, acquisitions and other equipment / physical asset costs).

Token Allocation
VRN token allocation

Milestones

Besides platform development, our growth strategy foresees the establishment of a broker network across a number of EU countries at first, depending on the funds raised.

Soft Cap 40m VRN
Platform core blockchain integration and first EU county broker license.
If the goal is not reached, the funds will be returned.
250m VRN
Opearate up to 8 EU countries and integrate country specific platform upgrades.
500m VRN
Expand beyond Europe and develop additional platform features and products. Buying licensed brokers with network.
How it works
Vernam in Media

Featured On

Backed by

Our Partners

Meet the team

The Vernam Team

PhD Student, MBA
Roman Angelov
CEO, Co-founder

CEO of DIMIROMA GROUP, leading Bulgarian consulting, IT and digitization company. Rewarded DNI Innovation funding by Google.

PhD Student,
Dipl. Eng Dimitar Mitrev
Co-founder

Experienced in creating and managing different B2B IT projects. CEO of DEAFOR. Member of the Bulgarian Association of Information Technologies (BAIT)

Ivan
Georgiev
Co-founder

Member of the board of directors of one of the biggest holdings in Bulgaria. Founder and manager of a successful mobile app development company.

Branimir
Minkov
CTO

Experienced Senior Software Engineer at TIS. Former software Developer and Technical Team Leader at Proxiad. Sun Certified Java Programmer SE 5.0. Former PHP Web Developer at Aplus.net.

PhD, Prof.
Zhelyo Hristozov
Insurance Director

Experienced Insurance executive, professor at the University of Finance, Business and Entrepreneurship. Former CEO of Olympic Insurance Company and the DBJZ Insurance Company

MBA
Borislav Stefanov
Business Developer

Harvard MBA graduate with extensive experience in business development and management strategy. Former head of Bulgarian Government Investment Agency.

Vesselin
Zahariev
Financial Expert

Partner at Mane Capital, an investment banking boutique, specialized in Equity&Debt Capital Markets and Mergers&Acquisitions transactions. Former head of Corporate Finance in the Bulgarian Branch of KBC Securities. 

George
Matev
General Legal Counsel

Attorney at Law with rich experience in ICT and corporate law. Extensive competence in blockchain law.

René
Rosenberg
Business Developer

Experienced executive with over 13 years of professional experience in the outdoor advertising industry. Previously worked for German company OOH Wall AG

PhD, Prof.
Angel Doraliyski
Strategic Planning

Associate Professor at the University of National and World Economy, New Bulgarian University and Limburg University in Belgium. Author of Academic Textbooks on Theory of Management; Management Policy; Strategic Management. Creator and Team Leader of a Group for Training on Heuristic and Creative methods in Management.

Nadya
Kaloyanova
Marketing Director

Master of digital marketing. Co-founder and marketing manager of Woomie.gr, one of the leading e-commerce stores in Greece.

Venimir
Petkov
Blockchain & Crypto Expert and Developer

Blockchain developer at Global Group (ggroup.io). Owner and Lecturer at Global Academy Place - Investment, Crypto and Forex e-learning platform. Blockchain lecturer at SoftUni.bg. Blockchain developer and crypto advocate.

Alexander
Mihov
Blockchain developer

Blockchain developer at Global Group (ggroup.io). Software Developer with rich experience in Web Development and Software Engineering. Certified .NET and Javascript Developer

Sevgin
Mustafov
Blockchain & Crypto Expert and Developer

Blockchain developer at Global Group (ggroup.io). Blockchain lecturer at SoftUni.bg. Project Manager at Global Academy Place. Course Developer, Technical Trainer and Educational Assistant at Academy School of Blockchain. Certified Ethereum and Blockchain Expert.

George
Spasov
Blockchain & Crypto Expert and Developer

Blockchain Architect and Chief Of Delivery at LimeChain. Co-Founder and Chief Growth Officer of the Lean Collaboration Tool Swip. Agile Enthusiast and a Panda in nature.

Sibin
Vlahov
CEO of MM Broker

MM Insurance Broker’ Ltd. is a licensed insurance broker in accordance with the Bulgarian laws (License No.73/30.05.2000, issued by the Insurance Supervision Directorate at the Ministry of Finance of the Republic of Bulgaria) and member of the Association of the Insurance Brokers in Bulgaria. The company has won a range of awards of the leading insurance companies in Bulgaria.

Milen
Radkov
Blockchain developer

Blockchain developer and Advocate & Software developer  at Global Group (ggroup.io). Passionate enterpreneur professional with Master's Degree in Computer Systems Networking and Telecommunications and strong skills in programming.

Advisors

Dr.Ing.Inf. Theodor
Tamvakidis
Advisor

Chief Technology Officer at Huawei Technologies | Part of the CERN research team | Karlsruhe Institute of Technology (KIT)

Boris
Cuchran
Advisor

Senior Executive Officer with international experience in banking, insurance, and operations. Member of the Board of Directors at Wüstenrot Financial Group in CZ. Former CEO of AEGON Insurance Czech Republic. Former CEO of Generali Bulgaria.

Ivan
Todorov
Cybersecurity Expert

Founder of TAD GROUP, the first cybersecurity company in Bulgaria. CEO of Subway Bulgaria and Romania.

Nick
Todorov
Advisor

Blockchain Practitioner & Advocate. Founder & CEO @ LimeChain. Working on making a positive impact using blockchain technology.

Simon
Cocking
Advisor

Cofounder Chief editor Irish Tech News, CryptoCoin.News | Top 10 ICO expert advisor ICObench | In advisory board for more than 36 successful ICOs

Nathan
Christian
Advisor

Blockchain technology consultant | ICO Campaign Manager| TraXion by Pluma Technologies | Top 10 ICO expert advisor at ICObench | In advisory board for more than 21 successful ICOs

Jason
Hung
Advisor

CAMP CTO | Top 10 ICO expert advisor ICObench | In advisory board for more than 20 successful ICOs

Yagub
Rahimov
Marketing Advisor

CEO / Co-founder at 7marketz Inc. |Top ICO expert advisor ICObench | Advisor to 30+ leading ICOs | Co-founder of Fintech training centers in Europe, Asia and Africa

Bobby
Iliev
Marketing advisor

IT, sales, public speaking, teaching, economics, business strategy and marketing. Deep interests in Blockchain technologies, FinTech, Peer to Peer, consumer and social psychology.

Ivan
Manchev
Advisor

Experienced data-driven creative generalist, with a rich track of successful projects in advertising, online marketing and social media. Co-Founder and CMO of software development company SolvedOut.

THE FUTURE OF INSURANCE