Umbrella Coin ICO review, all information about token sale Umbrella Coin (UMC) | ICORating
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Umbrella Coin



A decentralized platform on the Ethereum blockchain to provide insurance benefits for hidden costs of insurance (deductibles, co-insurance, co-pays etc.). The policy/claim system will be completely democratized.


Community involvement provides low fee alternative to traditional insurance while filling existing gaps in coverage.

Technical Details

Multiple layers to the UMC network. The UMC backend platform leverages the Ethereum blockchain and its smart contracts which provide a comprehensive development environment and a large community. The client will be web based at first. The UI will be implemented React which is fast and responsive. Node backend will be used to handle most of the business logic. The goal is to release the web client initially and expand into a standalone mobile application in the second half of 2018. There will be an external datastore (most likely of the NoSQL variety), however the team has not decided on an implementation yet (Cassandra, Mongo, Redis etc.). Users will be able to spend their UMC to create a policy on the network. Creating a policy will allow users to both submit and vote on claims. There will be both a minimum and a maximum payout allowance - minimum to prevent gas fees from cutting too deeply into claims, and maximum to prevent attackers from coordinating an easy depletion of funds. These values will be adjusted as we gather data on claims submission rates. There will be an additional fee if users attempt to withdraw their UMC before a mature date is reached, or if they are found of trying to commit fraud. The community will be allowed to vote on claims and will be paid UMC to do so. This payment will come from the submitter of the claim. This will incentivize the submitter to not submit fraudulent claims and incentivize the community to give attention to claims with fewer votes (they get a bigger piece of the fee). Claims will be required to submit at least two pieces of evidence - a receipt and some supporting evidence (video, picture etc.). The community can vote Yes, No, Needs more information, or Fraud. If Yes has greater than 50% of the total votes, it will win and the claim will be paid. If Yes has less than 50% of votes, the next highest vote will win. The community will be able to discuss the claim and share information in a discussion board-like setting.


Token Sale
ICO start date 19 Aug 2017
ICO end date 19 Sep 2017
Token details
Ticker UMC
Additional Token Emission No
Accepted Currencies


Token distribution

There are 100 million tokens. 68.8 million will be available for purchase. 1.2 million will go towards the bounty campaign. 20 million will be allocated for the initial pool to pay out claims. The remaining 10 million will be distributed internally: 6 million to the developers, 3 million to marketing, 1 million to our insurance advisors.


Type of ratings
Risk score

Team members

Operations Manager

Funding Rounds

Rating Review and Analytics

Investment rating Info NA
Hype score Info Low
Risk score Info Medium
Umbrella Coin ICO Contacts
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Start ICO 19 Aug 2017
End ICO 19 Sep 2017
Token UMC
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Status Ongoing
Hype score High
Risk score Medium
Investment rating Stable

Status Pending
Hype score High
Risk score Medium
Basic Review NA

Status Pending
Hype score High
Risk score NA
Basic Review NA

Status Pending
Hype score Medium
Risk score Medium
Basic Review NA