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Blockchain - insurance

Russia, Moscow region
Market: Insurance, Services, Financial services, Blockchain, Crypto currency
Stage of the project: Prototype or product is ready

Date of last change: 23.05.2018
Min investment
$  250.000
3
Collected
Total required
$ 50.000
$ 50.000.000
Rating
equalizer 409 из 1000
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Idea

SurruS:
- blockchain solution for tracking and recovering stolen vehicles
- is a blockchain-insurance solution against car thefts
- smart contract guarantees locating stole car or up to 100% refund of car market price
- defying technology can locate stolen cars using a network of search modules

Current Status

2007 - Scientific researches
2008-2010 - Creating a working model
2010-2012 - Find solutions for implementing the system
2013-2015 - Signing a contract with the Government and the Korean company CT Corporation for cooperation to launch the system
2016 - Test run and demonstration
2018 - The emergence of a concept based on the blockade

Market

Vehicle insurance market in the USA, Europe, and Russia has reached 400 billion USD per year, while anti-theft alarm system market - over 350 billion USD per year. There are 703 million cars in these regions, with more than 30 million new cars being sold annually. Thus, about 5.8 million cars are stolen annually; the damage numbers 73.5 billion USD.

Problem or Opportunity

Car theft problem emerged almost in the same time with sales of the very first cars and it has not been solved yet. Created insurance companies minimize losses of the car owner in the event of theft, while anti-theft systems reduce the chances of car thieves. However, the problem has not been solved completely yet, as none of the available tools can ensure the car owner their car won’t be stolen or will be returnedto them.

Solution (product or service)

SurruS is a complex innovative solutions including:
• decentralized system of search and return of the stolen car;
• blockchain-insurance against thefts, with a guarantee of instant refund of up to 100% of car market cost under the smart-contract.

SurruS team has developed a new way to find stolen cars which works even with radio signals suppressed. SurruS search modules located across the city enable to find the stolen car and transfer it back to owner

Competitors

Insurance company
Аnti-theft system

Advantages or differentiators

• decentralized system of search and return of the stolen car;
• blockchain-insurance against thefts, with a guarantee of instant refund of up to 100% of car market cost under the smart-contract.
• patented software, and set the search network

Finance

At ICO stage of SurruS company, investors will be able to buy SURR tokens.
Token cost:
1 SURR = 0.0002 ETH
1 ETH = 5000 SURR
Owner of SURR token can:
pay with tokens for company’s services and protection of own car against theft;
sell tokens at exchange;
pay with tokens for goods and services of partner companies with discounts and bonuses.
There will be 860 000 000 SURR tokens issued in total. 60% of tokens - 516 000 000 will be offered for sale. Upon ICO termination unsold tokens will be burnt; additional issue and mining are not planned.

Invested in previous rounds, $

Business model

Pre-sale: 01.04.2018 - 31.05.2018
ICO: 01.06.2018 - 01.08.2018

SRS tokenA security token, SRS is equivalent in price to one search module in the SurruS infrastructure. SRS token issue will take place in December 2018. The priority right to buy SRS tokens will be granted to SURR token holders.
The rate of exchange between SRS token and SURR token is:
1 SRS = 65 000 SURR
SRS token holder will be receiving monthly payouts, pegged to the company’s revenue.
In December 2018 SRS tokens will be issued according to the number of search modules in the system (1 SRS = 1 module). Token holders will be able to exchange their SURR for SRS at the rate of 1 SRS = 65 000 SURR. SRS holders will start receiving monthly payouts, pegged to the company’s revenue.

Money will be spent on

ICO participants 60%
Team 15%
Advisers, first supporters 3%
Bounty 3%
Reserve fund 19%

Offer for investor

The project investor who has purchased SurruS token at ICO will be able to do the
following in the personal profile:
• bind the bank card and work with exchange by buying and selling tokens;
• follow the company’s progress and cash flows;
• stay informed about the latest articles in mass media;
• set questions and get quick answers from the support service;
• get discounts and special offers from partner-companies.

Lead investor

 
$ 50.000

Risks

Developing new system from porche

Incubation/Acceleration programs accomplishment

The team of SurruS takes part in the Russian Venture Forum 2018!

✔️Shuvaev Dmitry- a product manager of SurruS made a presentation of project and we were able to interest the audience of investors, entrepreneurs and just guests of the Forum.

✔️We also took part in the exposition of the Forum and submitted the project of blockchain insurance against thefts of SurruS car to the experts ' court, were highly appreciated and consulted with experts in preparing the presentation of the project to potential investors.

Won the competition and other awards

SurruS took 3rd place, overtaking 51 projects on "ICO Zavod" in Kazan
From 7 to 11 March in Kazan - the first intensive for ICO-projects called ICO Zavod

Invention/Patent

Surrus company has developed search modules and car equipment, launched production of them, created and patented software, and set the search network. Thanks to own network and unique search algorithm, SurruS can find the stolen cars quickly and ensure peace of mind for the car owners.

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video