IXledger Whitepaper

Tuesday, June 19, 2018
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An​ ​Insuran e​ ​Marketpla e​ ​ ased​ ​on​ ​Blo k hain Nov,​ ​

Content 1​ ​Executive​ ​Summary 3 2​ ​Introduction 3 3​ ​The​ ​Insurance​ ​Market​ ​Today 3 3.1​ ​Existing​ ​Challenges 4 3.1.1​ ​Generation​ ​Shift 4 3.1.2​ ​Growth​ ​Limitations 4 3.1.3​ ​Overhead​ ​Costs 4 3.1.4​ ​Legacy​ ​IT 5 3.2​ ​Market​ ​Opportunity 5 3.2.1​ ​Increased​ ​Regulation 5 3.2.2​ ​Status​ ​Quo​ ​is​ ​not​ ​enough 5 3.2.3​ ​Drive​ ​For​ ​Digitization 5 3.2.4​ ​Global​ ​Reach 6 4​ ​The​ ​iXledger​ ​Platform 6 4.1​ ​Target​ ​Audience 6 4.2​ ​Key​ ​Features 7 4.3​ ​Key​ ​benefits 8 4.4​ ​Technology 8 4.4.1​ ​Architecture​ ​Overview 9 4.4.2​ ​Blockchain 9 4.4.3​ ​Oracles 10 4.4.4​ ​Security​ ​and​ ​data​ ​privacy 11 4.4.5​ ​Matching​ ​Engine 12 4.4.6​ ​Digital​ ​Signing 13 4.5​ ​IXT​ ​-​ ​The​ ​iXledger​ ​Token 13 4.6​ ​Token​ ​Allocation 14 4.7​ ​Reserve​ ​Pool 14 4.8​ ​Team​ ​Pool 14 4.9​ ​Token​ ​Burn 14 4.10​ ​Token​ ​Purchase 15 4.11​ ​Activities 15 4.12​ ​Volatility​ ​Control 16 4.12.1​ ​Price​ ​Range​ ​Calculation 17 4.12.2​ ​Arbitrage​ ​Prevention 17

4.12.3​ ​Platform​ ​Launch​ ​Price 17 5​ ​Roadmap 17 6​ ​The​ ​Company 18 6.1​ ​The​ ​Leadership​ ​Team 18 6.2​ ​The​ ​Core​ ​Team 19 7​ ​Competitive​ ​Landscape 20 7.1​ ​Situational​ ​Analysis 20 7.1.1​ ​Corporate 20 7.1.2​ ​Industry 21 7.1.3​ ​Platform​ ​Functionality​ ​Matrix 22 8​ ​Partnerships 23 9​ ​Disclaimer 24 10​ ​References 25

​ ​E ecutive​ ​Summar iXledger​ ​is​ ​building​ ​a​ ​platform​ ​that​ ​aims​ ​to​ ​disrupt​ ​and​ ​replace​ ​the​ ​traditional​ ​insurance​ ​working models.​ ​Our​ ​offering​ ​is​ ​a​ ​global​ ​and​ ​alternative​ ​marketplace​ ​by​ ​using​ ​technology​ ​as​ ​one​ ​of​ ​the pivot​ ​differentiators.​ ​The​ ​working​ ​platform​ ​leverages​ ​blockchain​ ​and​ ​revamps​ ​many​ ​of​ ​the current​ ​outdated​ ​insurance​ ​processes. The​ ​insurance​ ​industry​ ​is​ ​undergoing​ ​change​ ​that​ ​is​ ​partially​ ​driven​ ​by​ ​technology.​ ​Exploring emerging​ ​technologies​ ​within​ ​insurance​ ​has​ ​become​ ​a​ ​critical​ ​activity​ ​to​ ​remain​ ​innovative​ ​and competitive.​ ​Blockchain​ ​technology​ ​is​ ​key​ ​in​ ​this​ ​exercise​ ​and​ ​it​ ​promises​ ​transformative alternatives​ ​to​ ​traditional​ ​insurance​ ​approaches. This​ ​whitepaper​ ​outlines​ ​how​ ​iXledger​ ​will​ ​meet​ ​upcoming​ ​challenges​ ​and​ ​take​ ​advantage​ ​of opportunity​ ​gaps​ ​within​ ​the​ ​insurance​ ​market. As​ ​we​ ​are​ ​passed​ ​our​ ​fund-raising​ ​stage,​ ​our​ ​focus​ ​is​ ​on​ ​building​ ​a​ ​viable​ ​commercial​ ​operation. We​ ​are​ ​not​ ​including​ ​financial​ ​projections​ ​or​ ​budgets​ ​in​ ​general. ​ ​Introduction iXledger​ ​is​ ​a​ ​UK​ ​registered​ ​company​ ​based​ ​in​ ​London,​ ​the​ ​global​ ​capital​ ​of​ ​insurance.​ ​Our mission​ ​is​ ​to​ ​transform​ ​the​ ​way​ ​the​ ​market​ ​trades​ ​and​ ​manages​ ​insurance​ ​products​ ​by​ ​offering​ ​an alternative​ ​insurance​ ​marketplace​ ​utilising​ ​blockchain​ ​technology. iXledger​ ​is​ ​creating​ ​the​ ​required​ ​tools​ ​best​ ​suited​ ​for​ ​the​ ​operations​ ​of​ ​insurers​ ​and​ ​brokers.​ ​Our solutions​ ​will​ ​help​ ​these​ ​users​ ​maximise​ ​market​ ​connections​ ​and​ ​efficiency​ ​throughout​ ​all​ ​stages of​ ​their​ ​day-to-day​ ​working​ ​processes.​ ​This​ ​paper​ ​gives​ ​you​ ​a​ ​detailed​ ​overview​ ​of​ ​our​ ​approach. ​ ​The​ ​Insurance​ ​Market​ ​Toda The​ ​insurance​ ​market​ ​counts​ ​for​ ​$3.92​ ​trillion​ ​or​ ​5.7​ ​percent​ ​of​ ​the​ ​global​ ​economic​ ​output​ ​[1]. Estimates​ ​suggest​ ​that​ ​this​ ​is​ ​the​ ​volume​ ​of​ ​the​ ​gross​ ​written​ ​premiums​ ​generated​ ​by​ ​insurers across​ ​the​ ​globe​ ​in​ ​2015. London​ ​is​ ​the​ ​capital​ ​of​ ​the​ ​global​ ​insurance​ ​market​ ​in​ ​Europe,​ ​with​ ​a​ ​long​ ​history​ ​as​ ​a marketplace​ ​for​ ​all​ ​kinds​ ​of​ ​insurance.​ ​The​ ​Association​ ​of​ ​British​ ​Insurers​ ​estimated​ ​the​ ​value​ ​of

assets​ ​under​ ​management,​ ​held​ ​by​ ​insurance​ ​companies,​ ​at​ ​$2.032​ ​trillion.​ ​In​ ​the​ ​UK,​ ​305,500 people​ ​are​ ​employed​ ​within​ ​the​ ​industry​ ​[2]. Insurance​ ​companies​ ​are​ ​seeking​ ​to​ ​increase​ ​their​ ​revenue​ ​by​ ​creating​ ​new​ ​insurance​ ​products and​ ​expanding​ ​into​ ​new​ ​markets.​ ​At​ ​the​ ​same​ ​time,​ ​brokers​ ​are​ ​merging​ ​to​ ​broaden​ ​their​ ​offering and​ ​services.​ ​Market​ ​consolidation​ ​has​ ​become​ ​the​ ​trend​ ​in​ ​order​ ​to​ ​grow​ ​[3]. Compared​ ​to​ ​the​ ​traditional​ ​cost​ ​cutting​ ​and​ ​market​ ​consolidation​ ​[4],​ ​blockchain​ ​can​ ​change​ ​the insurance​ ​industry​ ​the​ ​same​ ​way​ ​as​ ​the​ ​Internet​ ​revolutionised​ ​the​ ​world​ ​in​ ​the​ ​early​ ​90’s. Blockchain​ ​creates​ ​new​ ​growth​ ​opportunities​ ​in​ ​the​ ​global​ ​insurance​ ​industry​ ​as​ ​new​ ​products and​ ​operations​ ​are​ ​evolving​ ​from​ ​blockchain​ ​technology​ ​[5]. 3.1​ ​Existing​ ​Challenges Insurers​ ​face​ ​a​ ​number​ ​of​ ​challenges,​ ​including:​ ​A​ ​fast-paced​ ​changing​ ​industry,​ ​outdated technology​ ​and​ ​a​ ​shift​ ​in​ ​demographics.​ ​Below​ ​is​ ​an​ ​outline​ ​of​ ​some​ ​of​ ​the​ ​major​ ​challenges. 3.1.1​ ​Generation​ ​Shift The​ ​generation​ ​of​ ​Baby​ ​Boomers​ ​(aged​ ​51-69)​ ​and​ ​Generation​ ​X​ ​(aged​ ​35-50)​ ​are​ ​yet​ ​to embrace​ ​technology​ ​for​ ​insurance​ ​solutions.​ ​On​ ​the​ ​other​ ​hand,​ ​the​ ​millennial​ ​generation​ ​(aged 18-34)​ ​insurance​ ​professionals​ ​have​ ​expectations​ ​of​ ​a​ ​system​ ​that​ ​is​ ​simple,​ ​transparent​ ​and efficient.​ ​The​ ​increase​ ​in​ ​competition​ ​and​ ​changes​ ​is​ ​pushing​ ​this​ ​generation​ ​into​ ​a​ ​new digitalised​ ​environment. 3.1.2​ ​Growth​ ​Limitations Brokers​ ​and​ ​underwriters​ ​face​ ​limitations​ ​to​ ​grow​ ​if​ ​their​ ​access​ ​to​ ​the​ ​marketplace​ ​is​ ​limited. Traditionally,​ ​relationships​ ​are​ ​the​ ​foundation​ ​to​ ​provide​ ​future​ ​business​ ​growth​ ​in​ ​insurance. The​ ​current​ ​manual​ ​paper-based​ ​processes​ ​are​ ​a​ ​big​ ​challenge​ ​to​ ​grow​ ​business​ ​operations. 3.1.3​ ​Overhead​ ​Costs Insurance​ ​processes​ ​that​ ​manage​ ​risk,​ ​premiums​ ​and​ ​claims​ ​typically​ ​involve​ ​a​ ​significant exchange​ ​of​ ​data​ ​between​ ​multiple​ ​parties.​ ​Each​ ​party​ ​stores​ ​their​ ​own​ ​separate​ ​copies​ ​of​ ​data and​ ​process​ ​these​ ​individually.​ ​This​ ​makes​ ​it​ ​difficult​ ​to​ ​synchronise​ ​and​ ​collaborate​ ​through what​ ​is​ ​meant​ ​to​ ​be​ ​a​ ​shared​ ​process.

3.1.4​ ​Legacy​ ​IT In​ ​many​ ​cases,​ ​insurance​ ​companies​ ​have​ ​outdated​ ​IT​ ​systems​ ​that​ ​are​ ​not​ ​ready​ ​for​ ​mobile​ ​use or​ ​general​ ​online​ ​access.​ ​A​ ​large​ ​proportion​ ​of​ ​the​ ​legacy​ ​IT​ ​systems​ ​are​ ​“closed”​ ​and​ ​have​ ​no easy​ ​way​ ​of​ ​integrating​ ​external​ ​partners’​ ​systems. . ​ ​Market​ ​Opportunit The​ ​insurance​ ​industry​ ​is​ ​going​ ​through​ ​some​ ​significant​ ​changes​ ​that​ ​have​ ​an​ ​impact​ ​on​ ​profit levels​ ​and​ ​this​ ​therefore​ ​increases​ ​the​ ​need​ ​for​ ​cost-saving.​ ​The​ ​consumer​ ​markets​ ​are​ ​also changing​ ​with​ ​new​ ​approaches​ ​to​ ​insurance​ ​and​ ​gaining​ ​popularity.​ ​According​ ​to​ ​KPMG,​ ​‘on demand​ ​insurance​ ​is​ ​an​ ​appealing​ ​proposition,​ ​as​ ​it​ ​provides​ ​convenience​ ​through​ ​an​ ​attractive customer​ ​interface​ ​and​ ​offering​ ​flexibility​ ​of​ ​cover.​ ​[6]’ Insurance​ ​companies​ ​need​ ​to​ ​reinvent​ ​themselves​ ​to​ ​remain​ ​competitive​ ​and​ ​also​ ​support​ ​the existing​ ​business​ ​processes​ ​against​ ​a​ ​backdrop​ ​of​ ​lower​ ​premiums​ ​and​ ​a​ ​need​ ​to​ ​cut​ ​costs.​ ​Below are​ ​a​ ​few​ ​characteristics​ ​of​ ​this​ ​changing​ ​environment. 3.2.1​ ​Increased​ ​Regulation Insurance​ ​companies​ ​and​ ​brokers​ ​are​ ​under​ ​increased​ ​regulatory​ ​scrutiny​ ​that​ ​causes​ ​an​ ​extra administrative​ ​burden.​ ​This​ ​adds​ ​additional​ ​requirements​ ​on​ ​IT​ ​systems​ ​to​ ​provide​ ​transparency and​ ​auditing​ ​protocols.​ ​Examples​ ​of​ ​some​ ​regulatory​ ​demands​ ​are​ ​GDPR​ ​(General​ ​Data Protection​ ​Regulation)​ ​compliance,​ ​Solvency​ ​II​ ​and​ ​IDD​ ​(Insurance​ ​Distribution​ ​Directive). 3.2.2​ ​Status​ ​Quo​ ​is​ ​not​ ​enough The​ ​process​ ​of​ ​how​ ​the​ ​market​ ​trades​ ​and​ ​manages​ ​insurance​ ​products​ ​is​ ​shifting​ ​to​ ​an​ ​electronic approach.​ ​This​ ​shift​ ​is​ ​being​ ​driven​ ​by​ ​demographic,​ ​economic​ ​and​ ​technology​ ​factors.​ ​Status Quo​ ​is​ ​no​ ​longer​ ​enough​ ​and​ ​insurers​ ​who​ ​fail​ ​to​ ​adapt​ ​will​ ​not​ ​be​ ​able​ ​to​ ​retain​ ​their​ ​customers, let​ ​alone​ ​grow​ ​their​ ​business​ ​to​ ​a​ ​broader​ ​market​ ​[7]. 3.2.3​ ​Drive​ ​For​ ​Digitization Insurance​ ​companies​ ​are​ ​driving​ ​digitization​ ​efforts​ ​across​ ​the​ ​industry​ ​and​ ​are​ ​investing​ ​heavily in​ ​the​ ​search​ ​of​ ​efficiencies​ ​and​ ​increased​ ​market​ ​reach.​ ​Consumers​ ​and​ ​counterparties​ ​expect modern​ ​technology.​ ​Artificial​ ​Intelligence​ ​(AI),​ ​mobile​ ​apps​ ​and​ ​blockchain​ ​are​ ​some​ ​of​ ​the main​ ​focuses.

3.2.4​ ​Global​ ​Reach Insurance​ ​is​ ​no​ ​longer​ ​a​ ​local​ ​business​ ​and​ ​this​ ​sector​ ​needs​ ​to​ ​cover​ ​people​ ​and​ ​companies​ ​with a​ ​global​ ​footprint.​ ​The​ ​insurance​ ​marketplace​ ​is​ ​also​ ​increasingly​ ​global​ ​where​ ​it​ ​is​ ​no​ ​longer possible​ ​to​ ​meet​ ​in​ ​person.​ ​The​ ​need​ ​to​ ​communicate​ ​and​ ​collaborate​ ​remotely​ ​continues​ ​to increase​ ​significantly. ​ ​The​ ​iXled er​ ​Plat orm The​ ​platform​ ​is​ ​a​ ​suite​ ​of​ ​tools​ ​that​ ​allows​ ​insurance​ ​professionals​ ​to​ ​maximise​ ​their​ ​market connections​ ​and​ ​profitability​ ​throughout​ ​all​ ​the​ ​stages​ ​of​ ​the​ ​business​ ​process.​ ​iXledger​ ​offers​ ​a powerful​ ​matching​ ​functionality​ ​and​ ​instant​ ​messaging​ ​features​ ​that​ ​enables​ ​market​ ​participants to​ ​broaden​ ​their​ ​business​ ​network​ ​in​ ​multiple​ ​types​ ​of​ ​insurance. 4.1​ ​Target​ ​Audience The​ ​iXledger​ ​marketplace​ ​is​ ​for​ ​participants​ ​of​ ​the​ ​insurance​ ​industry.​ ​Our​ ​target​ ​audience​ ​are: ● Brokers.​​ ​Match​ ​buyers-sellers​ ​while​ ​providing​ ​tailor-made​ ​structures​ ​and​ ​other​ ​services. ● Insurers.​​ ​Sell​ ​insurance​ ​products​ ​to​ ​reinsurers​ ​i.e.​ ​risk​ ​transfer. ● Reinsurers.​​ ​Buy​ ​insurance​ ​programs​ ​or​ ​selling​ ​i.e.​ ​retrocession​ ​insurance. The​ ​millennial​ ​generation​ ​(aged​ ​18-34)​ ​is​ ​one​ ​of​ ​our​ ​key​ ​target​ ​audiences.​ ​According​ ​to​ ​the General​ ​Director​ ​of​ ​Association​ ​of​ ​British​ ​Insurers,​ ​‘by​ ​2020,​ ​70%​ ​of​ ​the​ ​workforce​ ​will​ ​be millennials​ ​and​ ​this​ ​generation​ ​has​ ​grown​ ​up​ ​surrounded​ ​by​ ​technology’.​ ​The​ ​insurance​ ​industry is​ ​focused​ ​in​ ​preparing​ ​insurance​ ​professionals​ ​within​ ​this​ ​generation​ ​to​ ​adapt​ ​to​ ​the​ ​shift​ ​in technology​ ​for​ ​insurance​ ​solutions​ ​[8]. In​ ​addition,​ ​according​ ​to​ ​a​ ​PwC​ ​survey,​ ​‘by​ ​2020,​ ​50%​ ​of​ ​consumers​ ​would​ ​be​ ​prepared​ ​to provide​ ​their​ ​insurer​ ​with​ ​personal-data​ ​documents​ ​through​ ​an​ ​electronic​ ​platform​ ​to​ ​seek​ ​the best​ ​deal​ ​and​ ​efficient​ ​service’​ ​[9]. The​ ​current​ ​market​ ​networking​ ​opportunities​ ​are​ ​limited​ ​to​ ​existing​ ​relationships​ ​between​ ​the brokers,​ ​insurers​ ​and​ ​reinsurers. Our​ ​platform​ ​provides​ ​features​ ​such​ ​as​ ​an​ ​instant​ ​messaging​ ​based​ ​placement​ ​process​ ​and​ ​mobile access,​ ​which​ ​will​ ​sit​ ​well​ ​with​ ​this​ ​audience.

4.2​ ​Key​ ​Features Collaborative​ ​placement​ ​of​ ​insurance Meet,​ ​network​ ​and​ ​agree​ ​terms​ ​instantly​ ​with​ ​a​ ​secure​ ​live-messaging​ ​based​ ​submission​ ​process. Utilise​ ​all​ ​the​ ​platform​ ​features​ ​on-the-go​ ​with​ ​our​ ​mobile​ ​application Keep​ ​track​ ​of​ ​all​ ​your​ ​business​ ​activities​ ​and​ ​keep​ ​up​ ​to​ ​date​ ​with​ ​an​ ​enabled​ ​live​ ​notification straight​ ​to​ ​your​ ​mobile​ ​device. Securely​ ​share​ ​documents Upload​ ​and​ ​share​ ​your​ ​confidential​ ​documents​ ​processed​ ​through​ ​our​ ​blockchain-based platform. Effective​ ​portfolio​ ​and​ ​individual​ ​risk​ ​data​ ​management Stay​ ​on​ ​top​ ​of​ ​your​ ​work​ ​in​ ​our​ ​customizable​ ​and​ ​powerful​ ​risk​ ​data​ ​and​ ​portfolio​ ​manager. Export​ ​the​ ​data​ ​straight​ ​into​ ​Excel​ ​or​ ​downstream​ ​processes.

Template​ ​driven​ ​MRC​ ​(Market​ ​Reform​ ​Contract)​ ​creation​ ​with​ ​digital​ ​signing Be​ ​part​ ​of​ ​a​ ​collaborative​ ​platform,​ ​where​ ​all​ ​parties​ ​can​ ​edit​ ​contract​ ​wordings​ ​and​ ​clauses. Transactions​ ​are​ ​agreed​ ​and​ ​finalised​ ​with​ ​digital​ ​signatures​ ​from​ ​all​ ​business​ ​partners. Market​ ​insights​ ​and​ ​performance​ ​analytics Gain​ ​insights​ ​into​ ​the​ ​market​ ​by​ ​analytics​ ​and​ ​reports​ ​that​ ​will​ ​give​ ​you​ ​an​ ​edge.​ ​Analyse performance​ ​on​ ​an​ ​individual​ ​or​ ​team​ ​level​ ​and​ ​track​ ​your​ ​progress. Invite​ ​your​ ​business​ ​partners​ ​and​ ​colleagues​ ​to​ ​connect Our​ ​simple​ ​sign-up​ ​process​ ​encourages​ ​a​ ​network​ ​effect​ ​by​ ​rewarding​ ​the​ ​sign-up​ ​of​ ​the​ ​people you​ ​do​ ​business​ ​with. Promotion​ ​of​ ​expertise​ ​growth​ ​of​ ​your​ ​network Show​ ​your​ ​professional​ ​expertise​ ​and​ ​qualifications​ ​on​ ​your​ ​profile​ ​and​ ​search​ ​for​ ​partners​ ​for new​ ​business​ ​opportunities. 4.3​ ​Key​ ​benefits Blockchain​ ​technology​ ​is​ ​a​ ​new​ ​focus​ ​area​ ​within​ ​the​ ​insurance​ ​industry​ ​and​ ​it​ ​gives​ ​a significant​ ​advantage​ ​for​ ​market​ ​practitioners.​ ​Blockchain​ ​reduces​ ​the​ ​need​ ​for​ ​intermediaries and​ ​introduces​ ​trust,​ ​leading​ ​to​ ​growth​ ​opportunities​ ​and​ ​operational​ ​efficiencies. The​ ​main​ ​benefits: ● Providing​ ​an​ ​alternative​ ​to​ ​existing​ ​marketplaces​ ​with​ ​modern​ ​technology​ ​and​ ​new approaches​ ​for​ ​lower​ ​overhead​ ​costs. ● As​ ​an​ ​independent​ ​provider​ ​we​ ​are​ ​able​ ​to​ ​create​ ​solutions​ ​without​ ​being​ ​tied​ ​to​ ​specific markets,​ ​insurance​ ​companies​ ​or​ ​consortia​ ​whilst​ ​staying​ ​in​ ​line​ ​with​ ​industry​ ​standards. ● Utilising​ ​blockchain​ ​technology​ ​as​ ​the​ ​software​ ​protocol​ ​provides​ ​an​ ​additional implementation​ ​for​ ​internal​ ​IT-solutions​ ​and​ ​external​ ​partners.

4.4​ ​Technology The​ ​iXledger​ ​architecture​ ​is​ ​a​ ​highly​ ​scalable​ ​and​ ​robust​ ​combination​ ​of​ ​the​ ​latest​ ​technology advances​ ​in​ ​blockchain,​ ​UX​ ​(User-experience)​ ​and​ ​server​ ​side​ ​approaches. Our​ ​layered​ ​and​ ​modular​ ​approach​ ​gives​ ​flexibility​ ​to​ ​replace​ ​technology​ ​and​ ​add​ ​new functionalities. 4.4.1​ ​Architecture​ ​Overview 4.4.2​ ​Blockchain Our​ ​platform​ ​leverages​ ​blockchain​ ​technology​ ​and​ ​offers​ ​participants​ ​consistent,​ ​shared​ ​and secure​ ​processes.​ ​The​ ​nature​ ​of​ ​the​ ​decentralized​ ​blockchain​ ​allows​ ​a​ ​completely​ ​trustless interaction​ ​between​ ​parties​ ​and​ ​also​ ​removes​ ​third-party​ ​costs​ ​and​ ​commissions. iXledger​ ​will​ ​eventually​ ​provide​ ​an​ ​open​ ​blockchain​ ​for​ ​insurance​ ​companies​ ​and​ ​others​ ​to​ ​join and​ ​mine.​ ​However​ ​it​ ​will​ ​initially​ ​start​ ​by​ ​creating​ ​a​ ​consortium​ ​blockchain​ ​in​ ​Ethereum​ ​with controlled​ ​participation.​ ​This​ ​allows​ ​the​ ​iXledger​ ​team​ ​to​ ​get​ ​around​ ​the​ ​current​ ​performance limitations​ ​suffered​ ​by​ ​the​ ​public​ ​blockchain.​ ​It​ ​is​ ​important​ ​to​ ​note​ ​that​ ​all​ ​iXledger​ ​software has​ ​been​ ​designed​ ​for​ ​deployment​ ​deployed​ ​on​ ​the​ ​public​ ​blockchain.

Our​ ​core​ ​business​ ​logic​ ​is​ ​implemented​ ​on​ ​smart​ ​contracts​ ​that​ ​are​ ​executed​ ​on​ ​the​ ​blockchain. iXledger​ ​blockchain​ ​contracts​ ​have​ ​been​ ​organised​ ​around​ ​business​ ​processes​ ​and​ ​each​ ​contract type​ ​is​ ​supported​ ​by​ ​a​ ​registry.​ ​This​ ​registry​ ​allows​ ​users​ ​to​ ​monitor​ ​contract​ ​data​ ​records​ ​and also​ ​provides​ ​control​ ​and​ ​event​ ​tracking.​ ​The​ ​aim​ ​of​ ​this​ ​contract​ ​implementation​ ​is​ ​to​ ​minimise the​ ​need​ ​to​ ​configure​ ​addresses​ ​externally​ ​and​ ​to​ ​provide​ ​a​ ​consistent​ ​approach. 4.4.3​ ​Oracles One​ ​of​ ​the​ ​architectural​ ​challenges​ ​with​ ​smart​ ​contracts​ ​is​ ​that​ ​this​ ​architecture​ ​lacks​ ​information of​ ​anything​ ​outside​ ​of​ ​itself.​ ​Given​ ​that​ ​real​ ​time​ ​data​ ​is​ ​often​ ​needed​ ​for​ ​business​ ​practises​ ​(e.g. current​ ​exchange​ ​rates),​ ​this​ ​issue​ ​has​ ​been​ ​solved​ ​with​ ​oracles.​ ​When​ ​a​ ​smart​ ​contract​ ​is​ ​‘oracle aware’,​ ​the​ ​contract​ ​can​ ​execute​ ​an​ ​event​ ​to​ ​the​ ​oracle,​ ​which​ ​in​ ​its​ ​turn​ ​feeds​ ​the​ ​required​ ​data back​ ​into​ ​the​ ​contract​ ​or​ ​performs​ ​certain​ ​alternative​ ​actions.

An​ ​example​ ​of​ ​oracle​ ​usage​ ​within​ ​the​ ​iXledger​ ​platform​ ​is​ ​when​ ​IXT​ ​payments​ ​are​ ​made.​ ​In​ ​the event​ ​of​ ​a​ ​chargeable​ ​transaction​ ​on​ ​our​ ​consortium​ ​blockchain,​ ​the​ ​smart​ ​contract​ ​connects​ ​with an​ ​oracle​ ​that​ ​then​ ​synchronises​ ​the​ ​payment​ ​on​ ​the​ ​public​ ​blockchain. Oracles​ ​have​ ​their​ ​own​ ​challenges​ ​and​ ​one​ ​of​ ​these​ ​is​ ​security.​ ​For​ ​example​ ​both​ ​the​ ​oracle​ ​itself and​ ​the​ ​callback​ ​function​ ​in​ ​a​ ​smart​ ​contract​ ​need​ ​to​ ​be​ ​secured.​ ​Another​ ​aspect​ ​is​ ​the performance​ ​and​ ​gas​ ​costs. 4.4.4​ ​Security​ ​and​ ​data​ ​privacy Some​ ​of​ ​our​ ​data​ ​is​ ​not​ ​public​ ​to​ ​everyone​ ​and​ ​must​ ​be​ ​protected​ ​with​ ​a​ ​high​ ​level​ ​of​ ​security. For​ ​example,​ ​the​ ​medical​ ​data​ ​documents​ ​that​ ​form​ ​part​ ​of​ ​a​ ​life​ ​insurance​ ​claim,​ ​or​ ​quote information​ ​provided​ ​for​ ​a​ ​submission.​ ​The​ ​different​ ​levels​ ​of​ ​protection​ ​and​ ​various​ ​use​ ​cases call​ ​for​ ​different​ ​approaches. Sharing​ ​of​ ​documents:​​ ​This​ ​feature​ ​might​ ​involve​ ​sharing​ ​highly​ ​sensitive​ ​medical​ ​data​ ​or other​ ​personal​ ​information​ ​between​ ​privileged​ ​users.​ ​Explicit​ ​exchange​ ​of​ ​encryption​ ​keys​ ​is required​ ​to​ ​gain​ ​access. Smart​ ​Contract​ ​privacy:​​ ​Certain​ ​data​ ​in​ ​the​ ​smart​ ​contracts​ ​needs​ ​to​ ​be​ ​encrypted.​ ​Since encrypting​ ​data​ ​within​ ​the​ ​blockchain​ ​is​ ​not​ ​viable,​ ​certain​ ​fields​ ​need​ ​to​ ​be​ ​encrypted​ ​before they​ ​are​ ​published.​ ​For​ ​example,​ ​participants​ ​who​ ​provide​ ​quotes​ ​for​ ​a​ ​submission​ ​should​ ​not​ ​be able​ ​to​ ​see​ ​quotes​ ​that​ ​have​ ​been​ ​sent​ ​by​ ​others. Personal​ ​Data​ ​Removal:​​ ​One​ ​of​ ​the​ ​challenges​ ​is​ ​the​ ​regulatory​ ​requirement​ ​to​ ​be​ ​able​ ​to remove​ ​personal​ ​information​ ​if​ ​requested.​ ​As​ ​our​ ​data​ ​is​ ​stored​ ​in​ ​the​ ​blockchain​ ​and​ ​therefore

immutable,​ ​we​ ​need​ ​a​ ​slightly​ ​different​ ​approach.​ ​We​ ​are​ ​basing​ ​it​ ​on​ ​encryption​ ​and​ ​consider data​ ​to​ ​have​ ​been​ ​deleted​ ​if​ ​the​ ​key​ ​is​ ​“lost”. 4.4.5​ ​Matching​ ​Engine What​ ​makes​ ​a​ ​successful​ ​matching​ ​engine? ● High​ ​performance ● Scalability ● Flexibility Many​ ​of​ ​the​ ​existing​ ​order​ ​matching​ ​engines​ ​mainly​ ​optimise​ ​on​ ​matching​ ​prices.​ ​This​ ​works well​ ​when​ ​the​ ​prices​ ​are​ ​the​ ​primary​ ​focus.​ ​However,​ ​for​ ​our​ ​participants,​ ​other​ ​fields​ ​(e.g. jurisdictions​ ​and​ ​business​ ​classes)​ ​are​ ​often​ ​no​ ​less​ ​important.​ ​For​ ​our​ ​products,​ ​flexibility​ ​is​ ​as critical​ ​as​ ​high​ ​performance​ ​in​ ​order​ ​to​ ​help​ ​smooth​ ​the​ ​customer’s​ ​business​ ​operations​ ​and avoid​ ​setting​ ​constraints. There​ ​are​ ​naive​ ​approaches​ ​to​ ​achieve​ ​flexibility​ ​for​ ​a​ ​successful​ ​matching​ ​engine.​ ​Some implementations​ ​evade​ ​the​ ​issue​ ​by​ ​converting​ ​preference​ ​filters​ ​into​ ​database​ ​queries.​ ​Other approaches​ ​include​ ​field-by-field​ ​matching​ ​by​ ​brute​ ​force,​ ​which​ ​results​ ​in​ ​poor​ ​performance. Field​ ​specific​ ​optimisations​ ​can​ ​help​ ​to​ ​a​ ​certain​ ​degree,​ ​e.g.​ ​by​ ​cleverly​ ​re-organising​ ​data​ ​and comparison​ ​flows.​ ​Nonetheless​ ​it​ ​is​ ​important​ ​to​ ​note​ ​that​ ​such​ ​optimisations​ ​usually​ ​need​ ​very fine​ ​level​ ​manual​ ​adjustments,​ ​which​ ​results​ ​in​ ​scalability​ ​issues. We​ ​are​ ​basing​ ​our​ ​matching​ ​engine​ ​on​ ​an​ ​innovative​ ​novel​ ​tree​ ​structure.​ ​The​ ​participant’s​ ​filters are​ ​parsed​ ​and​ ​then​ ​organised​ ​in​ ​a​ ​way​ ​that​ ​reduces​ ​repeated​ ​comparison​ ​(e.g.​ ​if​ ​a​ ​Submission satisfies​ ​one​ ​criteria​ ​of​ ​a​ ​filter,​ ​there​ ​is​ ​no​ ​need​ ​to​ ​re-compare​ ​the​ ​same​ ​criteria​ ​in​ ​other​ ​filters). The​ ​filter​ ​tree​ ​allows​ ​arbitrary​ ​numbers​ ​and​ ​types​ ​of​ ​criteria​ ​in​ ​a​ ​filter.​ ​It​ ​also​ ​self-organises dynamically,​ ​according​ ​to​ ​the​ ​created​ ​(and​ ​removed)​ ​filters — achieving​ ​scalability. Here​ ​is​ ​one​ ​example: Interest​ ​in​ ​submissions:​​ ​Let’s​ ​imagine​ ​that​ ​there​ ​are​ ​100​ ​insurers​ ​who​ ​have​ ​registered​ ​interest in​ ​insurance​ ​Submissions.​ ​Half​ ​of​ ​them​ ​are​ ​interested​ ​in​ ​cover​ ​limits​ ​of​ ​over​ ​2​ ​000​ ​000​ ​and​ ​a quarter​ ​of​ ​them​ ​prefer​ ​the​ ​ones​ ​from​ ​France​ ​and​ ​under​ ​500​ ​000​ ​cover​ ​limits.​ ​The​ ​remainder​ ​have no​ ​preferences​ ​over​ ​limits​ ​but​ ​are​ ​interested​ ​in​ ​the​ ​ones​ ​from​ ​the​ ​UK. Submissions​ ​available:​​ ​Suppose​ ​there​ ​is​ ​a​ ​Submission​ ​with​ ​300​ ​000​ ​limit​ ​which​ ​comes​ ​from​ ​the UK.​ ​If​ ​we​ ​perform​ ​a​ ​model​ ​of​ ​an​ ​ideal​ ​matching​ ​process,​ ​this​ ​model​ ​will​ ​start​ ​by​ ​comparing​ ​the

cover​ ​limit:​ ​After​ ​the​ ​first​ ​comparison,​ ​the​ ​first​ ​50​ ​filters​ ​are​ ​skipped. The​ ​second​ ​group​ ​(France​ ​and​ ​under​ ​500​ ​000)​ ​will​ ​pass​ ​the​ ​first​ ​comparison,​ ​but​ ​a​ ​second comparison​ ​against​ ​the​ ​country​ ​will​ ​drop​ ​all​ ​of​ ​them.​ ​Finally​ ​a​ ​third​ ​comparison​ ​will​ ​match​ ​the final​ ​group. Matching​ ​model:​​ ​The​ ​root​ ​of​ ​our​ ​matching​ ​tree​ ​has​ ​one​ ​branch​ ​towards​ ​limit​ ​comparison​ ​and another​ ​branch​ ​towards​ ​country​ ​comparison.​ ​The​ ​limit​ ​branch​ ​then​ ​forks​ ​by​ ​value,​ ​meaning​ ​that all​ ​of​ ​the​ ​first​ ​group​ ​will​ ​be​ ​registered​ ​under​ ​one​ ​sub-branch,​ ​while​ ​the​ ​entire​ ​second​ ​group​ ​under another​ ​branch​ ​of​ ​country​ ​comparison.​ ​Finally,​ ​the​ ​last​ ​group​ ​is​ ​directly​ ​under​ ​the​ ​root.​ ​With​ ​this approach​ ​only​ ​three​ ​comparisons​ ​are​ ​needed​ ​to​ ​match​ ​against​ ​100​ ​filters. The​ ​real​ ​implementation​ ​is​ ​more​ ​complicated​ ​and​ ​there​ ​are​ ​intriguing​ ​challenges.​ ​Some​ ​of​ ​these challenges​ ​include​ ​rebalancing​ ​the​ ​tree​ ​as​ ​the​ ​filters​ ​are​ ​added​ ​and​ ​removed,​ ​and​ ​selecting​ ​the branching​ ​strategy​ ​based​ ​on​ ​hits​ ​and​ ​misses.​ ​There​ ​are​ ​multiple​ ​ways​ ​and​ ​strategies​ ​for​ ​these challenges.​ ​At​ ​the​ ​moment,​ ​simple​ ​models​ ​and​ ​strategies​ ​suffice​ ​for​ ​the​ M ​ inimal​ ​Viable​ ​Product (MVP).​ ​In​ ​the​ ​long​ ​term,​ ​more​ ​sophisticated​ ​models​ ​will​ ​be​ ​developed​ ​as​ ​the​ ​product​ ​evolves. 4.4.6​ ​Digital​ ​Signing We​ ​have​ ​integrated​ ​digital​ ​signing​ ​that​ ​leverages​ ​DocuSign,​ ​the​ ​market​ ​leader​ ​in​ ​e-signatures. The​ ​signing​ ​functionality​ ​is​ ​tightly​ ​integrated​ ​with​ ​our​ ​User​ ​Interface​ ​(UI)​ ​to​ ​provide​ ​a​ ​smooth experience.​ ​Removing​ ​the​ ​need​ ​for​ ​printing​ ​and​ ​scanning​ ​as​ ​well​ ​as​ ​a​ ​blockchain-backed​ ​proof of​ ​signatures​ ​makes​ ​the​ ​process​ ​auditable​ ​and​ ​quicker.​ ​This​ ​feature​ ​gets​ ​rid​ ​of​ ​administration tasks​ ​that​ ​often​ ​delay​ ​the​ ​signing​ ​process. 4.5​ ​IXT​ ​-​ ​The​ ​iXledger​ ​Token IXT​ ​is​ ​used​ ​to​ ​pay​ ​for​ ​transactions​ ​and​ ​other​ ​activities​ ​on​ ​the​ ​platform.​ ​From​ ​the​ ​perspective​ ​of an​ ​IXT​ ​holder,​ ​the​ ​token​ ​should​ ​be​ ​classified​ ​as​ ​a​ ​prepayment​ ​for​ ​services.​ ​The​ ​purpose​ ​of​ ​using an​ ​IXT​ ​token​ ​is​ ​to​ ​provide​ ​easier​ ​payments​ ​and​ ​reduce​ ​the​ ​administrative​ ​overheads​ ​when​ ​using the​ ​platform. All​ ​transactions​ ​and​ ​activity​ ​are​ ​priced​ ​in​ ​IXT,​ ​which​ ​allows​ ​for​ ​easy​ ​comparison​ ​and​ ​unified charging. IXT​ ​that​ ​have​ ​been​ ​transferred​ ​to​ ​the​ ​platform​ ​accounts​ ​or​ ​have​ ​been​ ​bought​ ​on​ ​the​ ​platform​ ​will not​ ​be​ ​transferrable​ ​to​ ​external​ ​accounts.

4.6​ ​Token​ ​Allocation We​ ​issued​ ​a​ ​total​ ​of​ ​65,778,844​ ​million​ ​IXT​ ​tokens​ ​during​ ​our​ ​crowdsale​ ​period.​ ​From​ ​that​ ​total supply​ ​24.08%​ ​(15,839,549​ ​IXT)​ ​has​ ​been​ ​added​ ​to​ ​the​ ​iXledger​ ​pool​ ​which​ ​includes​ ​the​ ​team and​ ​company​ ​reserve. 4.7​ ​Reserve​ ​Pool Initial​ ​Size:​ ​10,000,000​ ​IXT The​ ​reserve​ ​pool​ ​is​ ​used​ ​to​ ​ensure​ ​that​ ​our​ ​IXT​ ​token​ ​economy​ ​operates​ ​in​ ​a​ ​fair​ ​and​ ​controlled manner.​ ​Tokens​ ​from​ ​the​ ​reserve​ ​pool​ ​will​ ​be​ ​utilised​ ​to​ ​provide​ ​the​ ​required​ ​liquidity​ ​and smoothen​ ​short-term​ ​price​ ​increases.​ ​As​ ​the​ ​pool​ ​is​ ​depleted,​ ​it​ ​will​ ​be​ ​replenished​ ​by​ ​the​ ​tokens that​ ​the​ ​platform​ ​receives.​ ​This​ ​replenishment​ ​will​ ​happen​ ​on​ ​a​ ​weekly​ ​basis​ ​and​ ​a​ ​summary​ ​will be​ ​published​ ​with​ ​the​ ​steps​ ​taken. The​ ​aim​ ​of​ ​this​ ​pool​ ​is​ ​to​ ​provide​ ​a​ ​stable​ ​price​ ​for​ ​our​ ​primary​ ​participants​ ​whilst​ ​maintaining​ ​a controlled​ ​increase​ ​in​ ​price​ ​(i.e.​ ​inflation)​ ​which​ ​reflects​ ​the​ ​growth​ ​and​ ​volume​ ​of​ ​the​ ​platform. There​ ​is​ ​also​ ​the​ ​possibility​ ​of​ ​increasing​ ​the​ ​size​ ​of​ ​the​ ​pool​ ​as​ ​the​ ​platform​ ​grows.​ ​This​ ​will​ ​be achieved​ ​by​ ​reducing​ ​the​ ​tokens​ ​burned. 4.8​ ​Team​ ​Pool Initial​ ​Size:​ ​5,839,549​ ​IXT Our​ ​team​ ​allocation​ ​is​ ​primarily​ ​there​ ​to​ ​incentivise​ ​team​ ​members​ ​to​ ​strive​ ​for​ ​an​ ​increase​ ​of​ ​the value​ ​of​ ​the​ ​token. The​ ​tokens​ ​in​ ​the​ ​team​ ​pool​ ​will​ ​also​ ​be​ ​used​ ​to​ ​allocate​ ​an​ ​initial​ ​balance​ ​to​ ​early​ ​adopters​ ​of the​ ​platform.​ ​This​ ​allocation​ ​will​ ​provide​ ​users​ ​with​ ​either​ ​three​ ​months​ ​of​ ​free​ ​usage​ ​or​ ​the option​ ​to​ ​receive​ ​a​ ​reward​ ​by​ ​inviting​ ​their​ ​business​ ​contacts.​ ​We​ ​aim​ ​to​ ​achieve​ ​a​ ​significant network​ ​effect​ ​with​ ​this​ ​approach. 4.9​ ​Token​ ​Burn Tokens​ ​received​ ​by​ ​the​ ​platform​ ​will​ ​be​ ​burnt​ ​after​ ​certain​ ​costs​ ​have​ ​been​ ​covered.​ ​This​ ​exact amount​ ​will​ ​be​ ​determined​ ​on​ ​a​ ​monthly​ ​basis​ ​depending​ ​on​ ​the​ ​levels​ ​required​ ​for:

Operational​ ​costs:​​ ​This​ ​includes​ ​the​ ​infrastructure​ ​costs​ ​required​ ​to​ ​operate​ ​the​ ​iXledger platform.​ ​The​ ​medium​ ​to​ ​long-term​ ​plan​ ​is​ ​to​ ​open​ ​up​ ​the​ ​blockchain​ ​to​ ​people​ ​who​ ​wish​ ​to mine.​ ​Miners​ ​would​ ​then​ ​be​ ​rewarded​ ​with​ ​IXT​ ​tokens. Growth:​ ​There​ ​will​ ​be​ ​rewards​ ​for​ ​bringing​ ​on​ ​new​ ​participants,​ ​provisioning​ ​and​ ​marketing and​ ​advertising. Reserve​ ​Pool​ ​replenishment:​​ ​A​ ​constant​ ​level​ ​of​ ​tokens​ ​will​ ​be​ ​maintained​ ​in​ ​this​ ​pool​ ​with​ ​the potential​ ​to​ ​increase​ ​the​ ​size​ ​in​ ​proportion​ ​to​ ​platform​ ​growth. Tokens​ ​will​ ​be​ ​burnt​ ​with​ ​a​ ​single​ ​transactions​ ​of​ ​those​ ​unwanted​ ​tokens​ ​to​ ​the​ ​Genesis​ ​block address.​ ​This​ ​procedure​ ​will​ ​effectively​ ​take​ ​these​ ​tokens​ ​out​ ​of​ ​circulation.​ ​Other​ ​existing​ ​token burn​ ​options​ ​being​ ​considered​ ​for​ ​implementation​ ​is​ ​a​ ​‘graveyard​ ​contract’,​ ​which​ ​will​ ​explicitly destroy​ ​the​ ​token. 4.10​ ​Token​ ​Purchase An​ ​iXledger​ ​marketplace​ ​participant​ ​can​ ​purchase​ ​tokens​ ​directly​ ​from​ ​the​ ​platform​ ​with​ ​a​ ​credit card​ ​payment​ ​or​ ​bank​ ​transfer.​ ​Tokens​ ​that​ ​are​ ​purchased​ ​directly​ ​on​ ​the​ ​platform​ ​will​ ​be sourced​ ​from​ ​the​ ​exchanges​ ​on​ ​behalf​ ​of​ ​the​ ​customer.​ ​With​ ​this​ ​procedure,​ ​the​ ​token​ ​demand will​ ​be​ ​reflected​ ​in​ ​the​ ​market​ ​value​ ​whilst​ ​making​ ​it​ ​a​ ​frictionless​ ​experience​ ​for​ ​the​ ​user. Tokens​ ​bought​ ​on​ ​the​ ​platform​ ​by​ ​registered​ ​users​ ​will​ ​be​ ​held​ ​in​ ​a​ ​secure​ ​wallet​ ​(acting​ ​as​ ​a custodian)​ ​associated​ ​with​ ​the​ ​user​ ​account​ ​and​ ​fully​ ​managed​ ​by​ ​the​ ​platform. IXT​ ​token​ ​is​ ​already​ ​listed​ ​in​ ​a​ ​number​ ​of​ ​exchanges​ ​and​ ​the​ ​team​ ​is​ ​working​ ​to​ ​provide liquidity​ ​with​ ​more​ ​listings.​ ​Token​ ​liquidity​ ​will​ ​encourage​ ​participants​ ​to​ ​continue​ s​ upporting the​ ​platform​ ​in​ ​various​ ​ways.​ ​For​ ​someone​ ​that​ ​is​ ​not​ ​an​ ​iXledger​ ​platform​ ​participant,​ ​you​ ​can only​ ​buy​ ​or​ ​sell​ ​tokens​ ​from​ ​exchanges. 4.11​ ​Activities Examples​ ​of​ ​activities​ ​which​ ​will​ ​require​ ​a​ ​fee​ ​or​ ​offer​ ​IXT​ ​rewards​ ​are​ ​defined​ ​below.​ ​More​ ​of these​ ​activities​ ​will​ ​be​ ​added​ ​as​ ​the​ ​platform​ ​evolves.​ ​The​ ​platform​ ​will​ ​also​ ​include​ ​an​ ​IXT transfer​ ​window​ ​that​ ​will​ ​publish​ ​the​ ​corresponding​ ​amount​ ​of​ ​IXT​ ​and​ ​the​ ​according​ ​addresses. Our​ ​payment​ ​oracle​ ​will​ ​settle​ ​the​ ​the​ ​transaction​ ​on​ ​the​ ​public​ ​Ethereum​ ​blockchain.

Activity IXT​ ​Price Submission TBD You​ ​will​ ​pay​ ​IXT​ ​in​ ​order​ ​to​ ​place​ ​a​ ​submission​ ​in​ ​the​ ​market.​ ​Recipients​ ​of the​ ​submission​ ​will​ ​not​ ​be​ ​charged.​ ​The​ ​fee​ ​goes​ ​to​ ​the​ ​platform. Quote TBD You​ ​will​ ​be​ ​rewarded​ ​IXT​ ​when​ ​you​ ​provide​ ​a​ ​quote​ ​which​ ​is​ ​accepted. Firm​ ​Order TBD A​ ​firm​ ​order​ ​will​ ​result​ ​in​ ​an​ ​equal​ ​charge​ ​to​ ​both​ ​sides​ ​of​ ​the​ ​transaction.​ ​The fee​ ​goes​ ​to​ ​the​ ​platform. Invites TBD If​ ​you​ ​send​ ​invites​ ​to​ ​people​ ​outside​ ​your​ ​organisation​ ​you​ ​will​ ​be​ ​rewarded IXT​ ​as​ ​it​ ​helps​ ​the​ ​platform​ ​to​ ​grow. Organisation​ ​Setup TBD During​ ​the​ ​setup​ ​of​ ​an​ ​organisation​ ​you​ ​will​ ​be​ ​rewarded​ ​with​ ​an​ ​initial balance​ ​of​ ​IXT. Data TBD Data​ ​can​ ​be​ ​bought​ ​and​ ​sold​ ​on​ ​the​ ​platform.​ ​The​ ​exact​ ​functionality​ ​is scheduled​ ​during​ ​our​ ​second​ ​phase​ ​of​ ​development​ ​so​ ​all​ ​the​ ​specifics​ ​have​ ​not yet​ ​been​ ​worked​ ​out. Premium​ ​Features TBD Unlock​ ​premium​ ​features​ ​such​ ​as​ ​detailed​ ​statistics​ ​such​ ​as​ ​profile​ ​views, contacts​ ​and​ ​research​ ​material. 4.12​ ​Volatility​ ​Control One​ ​of​ ​the​ ​key​ ​priorities​ ​is​ ​to​ ​create​ ​a​ ​stable​ ​and​ ​predictable​ ​cost​ ​model​ ​for​ ​iXledger​ ​clients.​ ​This model​ ​will​ ​shield​ ​clients​ ​from​ ​the​ ​short-term​ ​volatility​ ​that​ ​is​ ​traditionally​ ​associated​ ​with blockchain​ ​tokens.​ ​Price​ ​volatility​ ​should​ ​only​ ​be​ ​a​ ​concern​ ​for​ ​someone​ ​who​ ​is​ ​about​ ​to​ ​buy IXT. The​ ​way​ ​we​ ​prevent​ ​high​ ​IXT​ ​volatility​ ​is​ ​by​ ​offering​ ​a​ ​discounted​ ​mechanism​ ​if​ ​the​ ​price​ ​spikes above​ ​a​ ​predefined​ ​range.​ ​This​ ​is​ ​handled​ ​automatically​ ​as​ ​part​ ​of​ ​the​ ​IXT​ ​purchase​ ​process.​ ​If the​ ​market​ ​sourcing​ ​detects​ ​that​ ​the​ ​best​ ​price​ ​it​ ​can​ ​get​ ​is​ ​outside​ ​the​ ​range​ ​of​ ​the​ ​acceptable

price​ ​swing,​ ​the​ ​platform​ ​will​ ​add​ ​the​ ​difference.​ ​This​ ​difference​ ​in​ ​tokens​ ​will​ ​be​ ​obtained​ ​from the​ ​reserve​ ​pool. 4.12.1​ ​Price​ ​Range​ ​Calculation The​ ​maximum​ ​daily​ ​price​ ​m​ ​is​ ​5%​ ​of​ ​yesterday’s​ ​price​ ​P.​ ​If​ ​the​ ​number​ ​of​ ​organisations participating​ ​k​ ​have​ ​increased,​ ​there​ ​will​ ​be​ ​an​ ​additional​ ​5%​ ​increase​ ​per​ ​new​ ​organisation.​ ​The percentages​ ​are​ ​likely​ ​to​ ​be​ ​adjusted​ ​as​ ​k​ ​increases. m​ ​=​ ​P​ ​*​ ​1.05​ ​+​ ​(k​ ​*​ ​P​ ​*​ ​0.05) The​ ​discount​ ​is​ ​then​ ​simply​ ​today’s​ ​price​ ​minus​ ​m​. Selling​ ​tokens​ ​from​ ​the​ ​internal​ ​pool​ ​reserves​ ​will​ ​help​ ​to​ ​raise​ ​operational​ ​capital.​ ​This​ ​can​ ​be advantageous​ ​for​ ​the​ ​development​ ​of​ ​iXledger​ ​if​ ​the​ ​token​ ​benefits​ ​from​ ​healthy​ ​market​ ​prices. 4.12.2​ ​Arbitrage​ ​Prevention iXledger​ ​platform​ ​participants​ ​will​ ​not​ ​be​ ​able​ ​to​ ​transfer​ ​purchased​ ​discounted​ ​IXT​ ​tokens​ ​in the​ ​secondary​ ​markets​ ​within​ ​30​ ​days​ ​of​ ​purchasing.​ ​This​ ​is​ ​to​ ​prevent​ ​arbitrage​ ​opportunities, where​ ​a​ ​participant​ ​buys​ ​a​ ​discounted​ ​IXT​ ​on​ ​the​ ​platform​ ​to​ ​sell​ ​it​ ​at​ ​a​ ​higher​ ​price​ ​in​ ​the secondary​ ​market. 4.12.3​ ​Platform​ ​Launch​ ​Price There​ ​will​ ​be​ ​no​ ​attempt​ ​to​ ​prevent​ ​any​ ​potential​ ​steep​ ​price​ ​increase​ ​during​ ​the​ ​launch​ ​of​ ​the iXledger​ ​working​ ​platform.​ ​Volatility​ ​control​ ​will​ ​begin​ ​once​ ​the​ ​price​ ​has​ ​stabilised​ ​and​ ​IXT begins​ ​with​ ​institutional​ ​transactions.​ ​iXledger​ ​aims​ ​to​ ​protect​ ​primary​ ​participants​ ​from​ ​high volatility. ​ ​Roadmap Below​ ​is​ ​a​ ​high-level​ ​roadmap​ ​which​ ​outlines​ ​the​ ​main​ ​phases​ ​and​ ​milestones.​ ​This​ ​is​ ​subject​ ​to change​ ​as​ ​we​ ​reserve​ ​the​ ​right​ ​to​ ​change​ ​our​ ​priorities​ ​and​ ​timelines​ ​as​ ​we​ ​find​ ​opportunities​ ​or get​ ​market​ ​feedback.

​ ​The​ ​Compan . ​ ​The​ ​Leadership​ ​Team Ingemar​ ​Svensson​ ​ -​ ​Founder​ ​&​ ​CEO:​​ ​Before​ ​founding​ ​iXledger,​ ​Ingemar​ ​was​ ​the​ ​CTO​ ​of Risk​ ​and​ ​Valuation​ ​at​ ​SunGard​ ​Asset​ ​Management.​ ​His​ ​experience​ ​ranges​ ​from​ ​managing​ ​large

organisations​ ​to​ ​hands-on​ ​software​ ​development.​ ​Ingemar​ ​has​ ​spent​ ​20​ ​years​ ​building​ ​mission critical​ ​systems​ ​in​ ​various​ ​roles​ ​at​ ​Bank​ ​of​ ​America​ ​Merrill​ ​Lynch,​ ​Barclays​ ​Capital,​ ​Lehman Brothers​ ​and​ ​Mitsui​ ​Sumitomo​ ​Insurance. Cristina​ ​Dolan​ ​-​ ​Co-founder​ ​&​ ​President​ ​US:​​ ​Cristina​ ​is​ ​an​ ​MIT​ ​Media​ ​Lab​ ​alumna​ ​and Internet​ ​pioneer​ ​with​ ​over​ ​two​ ​decades​ ​of​ ​experience​ ​building​ ​software,​ ​content,​ ​and​ ​Internet based​ ​products​ ​and​ ​businesses.​ ​She​ ​was​ ​a​ ​co-founder​ ​of​ ​OneMain.com,​ ​which​ ​grew​ ​to​ ​be​ ​the 10th​ ​largest​ ​ISP​ ​after​ ​a​ ​successful​ ​IPO.​ ​Cristina​ ​is​ ​Chair​ ​of​ ​the​ ​MIT​ ​Enterprise​ ​Forum​ ​in​ ​New York.​ ​In​ ​2017​ ​she​ ​was​ ​honored​ ​with​ ​Harold​ ​E.​ ​Lobdell​ ​Distinguished​ ​Service​ ​Award​ ​from​ ​MIT for​ ​her​ ​work​ ​in​ ​promoting​ ​computer​ ​science. Mikael​ ​Olofsson​ ​-​ ​Co-founder​ ​&​ ​President​ ​EMEA:​​ ​Mikael​ ​has​ ​over​ ​17​ ​years​ ​experience​ ​from the​ ​financial​ ​markets​ ​and​ ​start-up​ ​sector.​ ​Previous​ ​to​ ​founding​ ​iXledger,​ ​he​ ​was​ ​Co-founder​ ​of TikkR.co​ ​an​ ​on-demand​ ​insurance​ ​platform​ ​with​ ​participation​ ​of​ ​the​ ​InsurTech​ ​Accelerator Program​ ​in​ ​2017​ ​at​ ​Startupbootcamp.org​ ​in​ ​London.​ ​Before​ ​this​ ​Mikael​ ​worked​ ​as​ ​Senior​ ​Equity Derivatives​ ​Broker​ ​and​ ​Commodities​ ​Broker​ ​in​ ​London,​ ​New​ ​York,​ ​Geneva​ ​and​ ​Paris​ ​for companies​ ​such​ ​as​ ​ICAP​ ​and​ ​SCB​ ​Group. 6.2​ ​The​ ​Core​ ​Team Henrik​ ​Hoppendorff​ ​-​ ​Business​ ​Development:​​ ​Insurance​ ​specialist​ ​and​ ​former​ ​underwriter who​ ​worked​ ​at​ ​AIG​ ​and​ ​other​ ​insurance​ ​companies.​ ​He​ ​joins​ ​us​ ​with​ ​a​ ​wealth​ ​of​ ​detailed insurance​ ​expertise​ ​as​ ​well​ ​as​ ​the​ ​senior​ ​business​ ​development​ ​skills. Andrew​ ​Hodgett​ ​-​ ​Business​ ​Development:​​ ​Experienced​ ​marine​ ​(re)insurance​ ​broker.​ ​He​ ​joins us​ ​to​ ​provide​ ​insight​ ​in​ ​the​ ​broking​ ​sector​ ​and​ ​will​ ​take​ ​a​ ​leading​ ​role​ ​in​ ​our​ ​sales​ ​team. Charlotte​ ​Holmen​ ​ - ​ ​Head​ ​of​ ​Development:​​ ​Charlotte’s​ ​last​ ​role​ ​was​ ​the​ ​first​ ​developer​ ​hired at​ ​the​ ​startup​​ ​Doctify.co.uk​.​ ​As​ ​a​ ​senior​ ​full-stack​ ​developer​ ​she​ ​and​ ​her​ ​team​ ​took​ ​the​ ​product from​ ​scratch​ ​to​ ​the​ ​award​ ​winning​ ​product​ ​it​ ​is​ ​today. Gurcan​ ​Sanli​ ​ - ​ ​Social​ ​Media​ ​&​ ​Community​ ​Manager:​​ ​Gurcan​ ​joins​ ​us​ ​with​ ​experience​ ​in digital​ ​marketing​ ​essentials​ ​and​ ​social​ ​media​ ​management.​ ​He​ ​obtained​ ​a​ ​Bachelor’s​ ​degree​ ​in marketing​ ​and​ ​advertising,​ ​as​ ​well​ ​as​ ​the​ ​key​ ​certificates​ ​in​ ​digital​ ​marketing​ ​accredited​ ​by​ ​CIM, Google​ ​and​ ​CPD. Linmao​ ​Song ​ ​-​ ​Senior​ ​Blockchain​ ​Developer:​​ ​Prior​ ​to​ ​working​ ​as​ ​a​ ​Blockchain​ ​developer​ ​at Nchain,​ ​Linmao​ ​was​ ​at​ ​Barclays​ ​for​ ​6​ ​years​ ​as​ ​a​ ​C++​ ​developer.​ ​Linmao​ ​leads​ ​the​ ​blockchain development​ ​on​ ​the​ ​platform.

Theodor​ ​Port - Blockchain​ ​Developer.​ ​Theodor​ ​joined​ ​us​ ​after​ ​completing​ ​his​ ​Masters​ ​in Computer​ ​Science​ ​at​ ​Imperial​ ​College​ ​London.​ ​He​ ​had​ ​significant​ ​experience​ ​of​ ​Ethereum development​ ​prior​ ​to​ ​joining​ ​from​ ​his​ ​own​ ​projects​ ​and​ ​as​ ​a​ ​community​ ​volunteer. Mohammed​ ​Yafii ​ ​- ​ ​Software​ ​Developer:​​ ​Software​ ​developer​ ​specialising​ ​in​ ​the​ ​creation​ ​of interactive​ ​and​ ​responsive​ ​user​ ​interfaces​ ​using​ ​modern​ ​JavaScript​ ​frameworks. Danny​ ​Currie​ ​-​ ​Senior​ ​Software​ ​Developer:​ ​Danny​ ​joins​ ​us​ ​from​ ​Gavuin,​ ​a​ ​data​ ​analytics company​ ​where​ ​he​ ​was​ ​the​ ​product​ ​manager​ ​and​ ​senior​ ​full-stack​ ​software​ ​developer. Shanthi​ ​Varanasi​ ​-​ ​Middleware​ ​Developer:​​ ​Shanthi​ ​worked​ ​at​ ​State​ ​Street​ ​Bank​ ​leading​ ​the team​ ​of​ ​developers​ ​and​ ​was​ ​completely​ ​responsible​ ​for​ ​the​ ​Finance​ ​Risk​ ​project.​ ​Shanthi​ ​has​ ​an overall​ ​experience​ ​of​ ​18​ ​years​ ​in​ ​the​ ​Software​ ​Industry​ ​working​ ​on​ ​client-server​ ​web​ ​based​ ​and enterprise​ ​applications. Valdi​ ​Kamenarov​ ​- ​ ​Middleware​ ​Developer:​​ ​Valdi​ ​worked​ ​at​ ​News​ ​Corp​ ​UK​ ​where​ ​he​ ​took part​ ​in​ ​the​ ​development​ ​of​ ​their​ ​Customer​ ​Management​ ​Platform.​ ​His​ ​role​ ​varied​ ​from​ ​analysing business​ ​requirements,​ ​system​ ​design​ ​and​ ​developing​ ​strategic​ ​business​ ​functionality. ​ ​Competitive​ ​Landscape There​ ​are​ ​a​ ​number​ ​of​ ​players​ ​who​ ​are​ ​aiming​ ​to​ ​reform​ ​the​ ​insurance​ ​market​ ​with​ ​innovative solutions​ ​based​ ​on​ ​technology.​ ​A​ ​survey​ ​conducted​ ​by​ ​PwC,​ ​indicates​ ​that​ ​‘74%​ ​of​ ​insurers expect​ ​the​ ​insurance​ ​industry​ ​to​ ​undergo​ ​a​ ​change​ ​in​ ​market​ ​operation​ ​due​ ​to​ ​the​ ​advance​ ​of technology’​ ​[10].​ ​There​ ​is​ ​a​ ​high​ ​demand​ ​for​ ​a​ ​system​ ​that​ ​is​ ​efficient​ ​for​ ​both​ ​brokers​ ​and insurers. 7.1​ ​Situational​ ​Analysis 7.1.1​ ​Corporate Strength: - Strategic​ ​collaboration​ ​with​ ​Gen​ ​Re - Blockchain-based​ ​platform - Unique​ ​platform​ ​features - Well​ ​funded - Versatile​ ​leadership​ ​team​ ​with​ k​ ey​ ​experience

Weaknesses: - Currently​ ​only​ ​one​ ​official​ ​partnership - Low​ ​marketing​ ​presence​ ​to​ ​the​ ​target​ ​audience Opportunities: - Replacing​ ​outdated​ ​IT​ ​systems - Demand​ ​for​ ​a​ ​global​ ​electronic​ ​platform​ ​to​ ​provide​ ​efficiency - Blockchain​ ​adoption Threats: - Established​ ​projects​ ​that​ ​already​ ​offer​ ​various​ ​classes​ ​of​ ​insurance - Regulatory​ ​hurdles 7.1.2​ ​Industry Threat​ ​of​ ​new​ ​entrants:​ ​Medium - Insurance​ ​solutions’​ ​projects​ ​are​ ​emerging​ ​and​ ​establishing​ ​themselves​ ​in​ ​the​ ​industry with​ ​similar​ ​technologies​ ​and​ ​offerings Bargaining​ ​power​ ​of​ ​buyers:​ ​Low - Our​ ​target​ ​audience​ ​are​ ​keen​ ​to​ ​conduct​ ​their​ ​processes​ ​on​ ​a​ ​trusted​ ​and​ ​seamless electronic​ ​platform Power​ ​of​ ​suppliers:​ ​Low - iXledger​ ​are​ ​the​ ​insurance​ ​solutions​ ​provider​ ​who​ ​handles​ ​participant​ ​fees​ ​based​ ​on​ ​their activity​ ​scale Competitive​ ​Rivalry:​ ​Medium​ ​to​ ​high - Xuber​ ​are​ ​operational​ ​with​ ​regular​ ​funding​ ​from​ ​owners​ ​DXC​ ​Technology - Xuber​ ​operates​ ​in​ ​multiple​ ​regions​ ​and​ ​offering​ ​several​ ​classes​ ​of​ ​insurance - PPL​ ​obtain​ ​access​ ​over​ ​London​ ​markets​ ​and​ ​the​ ​necessary​ ​clients​ ​internally Threat​ ​of​ ​substitutes:​ ​Medium - Various​ ​blockchain-based​ ​projects​ ​are​ ​offering​ ​insurance​ ​solutions​ ​to​ ​meet​ ​both​ ​the insurer​ ​and​ ​broker​ ​requirements

7.1.3​ ​Platform​ ​Functionality​ ​Matrix Below​ ​is​ ​a​ ​Platform​ ​Functionality​ ​Matrix​ ​of​ ​the​ ​closest​ ​peers​ ​in​ ​the​ ​market. Company Blockchain Instant Placing Cross GDPR Claims Policy Premiums Mobile Messaging business Product Compliant Management Management Access iXledger ✓ ✓ ✓ ✓ ✓ * * * * PPL ✓ ✓ ✓ ✓ Xuber ✓ ✓ ✓ ✓ ✓ ✓ ✓ fidentiaX ✓ ✓ ✓ ✓ ✓ Etherisc ✓ ✓ ✓ ✓ Aigang ✓ ✓ ✓ ✓ ✓ AkinovA ✓ ✓ Insurercore ✓ ✓ ✓ ✓ ✓ Blocksure ✓ ✓ ✓ ✓ ChainThat ✓ ✓ ✓ ✓ ✓ ✓ SchemeServe ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓=​ ​Offering *​ ​=​ ​Pending Adopting​ ​similar​ ​functionalities​ ​as​ ​iXledger​ ​are​ ​PPL​,​ ​Xuber​​ ​and​ ​fidentiaX​.​ ​These​ ​three​ ​projects have​ ​been​ ​categorised​ ​as​ ​iXledger’s​ ​closest​ ​peers​ ​in​ ​providing​ ​insurance​ ​solutions.

​ ​Partnerships We​ ​are​ ​in​ ​a​ ​strategic​ ​collaboration​ ​with​ ​one​ ​of​ ​the​ ​world's​ ​leading​ ​reinsurance​ ​companies,​ ​Gen Re​ ​(a​ ​Berkshire​ ​Hathaway​ ​company).​ ​The​ ​aim​ ​of​ ​our​ ​partnership​ ​is​ ​to​ ​deliver​ ​transformative insurance​ ​solutions​ ​amongst​ ​life​ ​and​ ​health​ ​clients​ ​of​ ​Gen​ ​Re​ ​in​ ​our​ ​insurance​ ​marketplace.​ ​This project​ ​will​ ​initially​ ​focus​ ​on​ ​the​ ​UK,​ ​with​ ​the​ ​aim​ ​to​ ​expand​ ​to​ ​Europe,​ ​Asia​ ​and​ ​the​ ​US. The​ ​insurance​ ​market​ ​is​ ​broad,​ ​and​ ​we​ ​are​ ​researching​ ​multiple​ ​use​ ​cases​ ​for​ ​the​ ​iXledger platform.​ ​During​ ​Q2​ ​and​ ​Q3​ ​2017,​ ​our​ ​strategy​ ​has​ ​been​ ​to​ ​focus​ ​on​ ​internal​ ​operations​ ​rather than​ ​expanding​ ​externally.​ ​In​ ​Q4,​ ​we​ ​have​ ​actively​ ​seeked​ ​to​ ​meet​ ​the​ ​market​ ​and​ ​spin​ ​diverse collaboration​ ​opportunities​ ​which​ ​we​ ​currently​ ​can​ ​not​ ​disclose​ ​till​ ​a​ ​confirmation​ ​is​ ​made. Going​ ​forward,​ ​external​ ​focus​ ​is​ ​our​ ​priority​ ​during​ ​Q4​ ​2017​ ​and​ ​Q1​ ​2018​ ​(See​ ​page​ ​18)

​ ​Disclaimer This​ ​content​ ​provided​ ​is​ ​for​ ​informational​ ​purposes​ ​only​ ​related​ ​to​ ​our​ ​approach​ ​of​ ​providing insurance​ ​solutions​ ​based​ ​on​ ​blockchain​ ​technology.​​ ​The​ ​information​ ​above​ ​may​ ​not​ ​be exhaustive​ ​and​ ​does​ ​not​ ​imply​ ​any​ ​elements​ ​of​ ​a​ ​contractual​ ​relationship.​ ​This​ ​document​ ​in​ ​no way​ ​constitutes​ ​the​ ​provision​ ​of​ ​investment​ ​or​ ​professional​ ​advisory.​ ​iXledger​ ​does​ ​not guarantee,​ ​and​ ​accept​ ​legal​ ​liability​ ​whatsoever​ ​arising​ ​from​ ​or​ ​connected​ ​to,​ ​the​ ​accuracy, reliability,​ ​or​ ​completeness​ ​of​ ​any​ ​material​ ​contained​ ​in​ ​this​ ​document.​ ​Participants​ ​and​ ​potential IXT​ ​token​ ​holders​ ​should​ ​seek​ ​appropriate​ ​independent​ ​advice​ ​prior​ ​to​ ​relying​ ​on​ ​or​ ​entering into​ ​any​ ​commitment​ ​or​ ​transaction​ ​based​ ​on​ ​the​ ​information​ ​provided​ ​in​ ​the​ ​whitepaper,​ ​which is​ ​for​ ​reference​ ​only.​ ​This​ ​paper​ ​outlines​ ​iXledger’s​ ​current​ ​vision​ ​for​ ​the​ ​platform​ ​and​ ​we​ ​intend to​ ​realize​ ​this​ ​vision,​ ​however,​ ​our​ ​vision​ ​is​ ​dependent​ ​on​ ​numerous​ ​factors​ ​and​ ​it​ ​is​ ​entirely possible​ ​that​ ​the​ ​platform​ ​will​ ​not​ ​be​ ​implemented​ ​as​ ​outlined​ ​in​ ​this​ ​paper.​ ​The​ ​platform​ ​and​ ​its tokens​ ​are​ ​not​ ​intended​ ​to​ ​constitute​ ​securities​ ​in​ ​any​ ​jurisdiction.​ ​This​ ​whitepaper​ ​does​ ​not constitute​ ​a​ ​prospectus​ ​or​ ​offer​ ​document​ ​in​ ​any​ ​form​ ​and​ ​is​ ​not​ ​intended​ ​to​ ​constitute​ ​an​ ​offer​ ​of securities​ ​or​ ​a​ ​solicitation​ ​for​ ​investment​ ​in​ ​securities​ ​in​ ​any​ ​jurisdiction.​ ​IXT​ ​tokens​ ​are functional​ ​utility​ ​smart​ ​contracts​ ​within​ ​the​ ​iXledger​ ​platform​ ​and​ ​memberships​ ​are​ ​not​ ​for speculative​ ​investment.​ ​There​ ​is​ ​no​ ​promise​ ​of​ ​future​ ​performance,​ ​or​ ​promise​ ​of​ ​inherent​ ​value, or​ ​promise​ ​of​ ​continuing​ ​payments​ ​and​ ​no​ ​guarantee​ ​that​ ​IXT​ ​token​ ​will​ ​hold​ ​any​ ​particular value.

​ ​Re erences [1]​ ​Allianz​ ​-​ ​Global​ ​insurance​ ​markets URL: https://www.allianz.com/en/economic_research/publications/working_papers/insurance_markets/ GVM​ ​260416e/ [2]​ ​Association​ ​of​ ​British​ ​Insurers,​ ​Keyfact​ ​2016​ ​:​ ​“UK​ ​Insurance​ ​and​ ​Long​ ​Term​ ​Savings, Key​ ​Facts” URL: https://www.abi.org.uk/globalassets/sitecore/files/documents/publications/public/2016/keyfacts/k eyfacts2016.pdf [3&4]​ ​Insurers​ ​search​ ​for​ ​growth,​ ​by​ ​Clyde​ ​&​ ​Co URL:​ ​https://www.clydeco.com/uploads/Files/J368471_Search_Growth_Booklet_V3.pdf [5]​ ​New​ ​real-time,​ ​blockchain-enabled​ ​platform​ ​to​ ​secure​ ​and​ ​streamline​ ​the​ ​marine insurance​ ​process,​ ​by​ ​EY URL:​ ​http://www.ey.com/gl/en/industries/financial-services/insurance/ey-blockchain-marine [6]​ ​KPMG:​ ​Will​ ​on-demand​ ​insurance​ ​become​ ​mainstream? URL: https://home.kpmg.com/content/dam/kpmg/uk/pdf/2017/09/will-on-demand-insurance-become-main stream.pdf [7]​ ​Future​ ​Trends.​ ​A​ ​Seismic​ ​Shift​ ​Underway:​ ​How​ ​people,​ ​technology​ ​and​ ​market​ ​boundary trends​ ​are​ ​shifting​ ​the​ ​insurance​ ​industry URL: http://www.project-consult.de/files/Majesco__Future_Trends__A_Seismic_Shift_Underway_2016.p df [8]​ ​Insurance​ ​Post:​ ​Insurance​ ​Census​ ​2017:​ ​Face​ ​of​ ​insurance. URL: https://www.postonline.co.uk/insurer/2481654/insurance-census-2017-face-of-insurance#disqus_ thread [9&10]​ ​PwC​ ​Global:​​ ​Insurance​ ​2020.​ ​The​ ​digital​ ​prise​ ​-​ ​taking​ ​customer​ ​connection​ ​to​ ​a​ ​new level. URL: https://www.pwc.com/gx/en/industries/financial-services/insurance/publications/digital-non-life.html