Even though platforms/protocols have a massive security list, there is always a chance of risk. In this volatile world, it would be idiotic not to be insured. The Insurance regulatory organization is the central body that handles and monitors all the insurance world’s functionalities. But, to be fully dependent on them is a hectic thing. Demand for decentralized insurance platforms has arisen to negate this dependency, with a blend of blockchain networks and smart contracts. The reason behind this is to grab transparent, convenient, and economic coverage against any financial risks. So, get insured with Cryptocurrency Exchange Script by building a decentralized finance insurance platform like ETHERISC. Before a catastrophe happens, let’s make sure that we are protected financially.
Our decentralized Finance Insurance platform, like Etherisc, has made its heroic entry into the market. It takes care of all the insurance services in a well-secured blockchain platform, with the assistance of smart contracts. We have a solid plan that will equip our users with ultimate insurance solutions.
What Is Ethersic?
In this era of decentralization, a unique and innovative decentralized insurance platform was developed to bring out insurance products. This insurance platform offers insurance licenses-as-a-service that gives the liberty to create insurance products to anyone.
DIP stands for Decentralized Insurance Protocol that offers a permission-less, generic mechanism to compute risk and price volatility, handled by a group of independent service providers. It has a certain predefined set of agreements.
Ethersic DIP Token
DIP tokens are the native currency of the Decentralized Insurance Platform. This token can be used for multiple purposes like transaction fees, rewards, incentives, and develop and maintain risk transfer products.
Benefits Of Our DIP Token
- Grants access to the users
- Staking can result in quality and appreciation
- Users can earn money through resourcing their skills, like software risk models, risk capital, insurance licenses, claim processing, or regulatory compliance/reporting services.
Various Services Offered By Our Decentralized Insurance Platform Like Ethersic
- Flight Delay Insurance
It is a kind of insurance service that covers flight delays and cancellations of scheduled flights. Payouts are entirely automatic, instant, fully licensed and sold worldwide for ETH, USD, and EUR.
- Hurricane Protection
The Hurricane protection policy is to help low-income people and startup owners. It is developed on the decentralized insurance platform to share the risk among people instead of depending on the central control. This hurricane protection helps the people by providing an instant claim process executed on the wind speed registered by weather-stations within a 30-mile radius from the insured’s permanent location.
- Crypto Wallet Insurance
The Crypto Wallet insurance is provided in the decentralized insurance platform as the crypto wallet is more liable to theft and hacking in the exchanges. Crypto Wallet insurance protects against the risk of piracy and attacks of hackers on the crypto wallet and smart contracts.
- Collateral Protection For Crypto-Backed Loans
The policy pays up to 100% of the issued loan amount if the value of the collateral provided by the borrower decreases by 90% or more.
- Crop Insurance
The Crop insurance in decentralized insurance platform helps the farmers to insure their crops on the decentralized mechanism so that no need to depend on the central control and they can help one another in insuring their crops. You can insure the harvest to the DIP by Select your crop and the location of your field. Automated claim processing is initiated by drought or flood events reported by government agencies.
- Social Insurance
Cost Efficient, accessible protection in case of risk of mortality or severe illness of a community member. The quick emergency amount aids to get through critical times.
Working Of Decentralized Insurance Platform Like Ethersic
- When an insured user pays a premium of $1000, $900 of the premium is put in the risk pool, $100 is given to the developers and distributors. If all the risks are met by the users, then they can claim $800 and get it. All the assets in the risk pool are reinsured in the market.
- Sovereign investors invest their ETH and USD as staking in the reinsurance market. Staked assets have a value of $1500 then gives $100 in return for the staked assets in the reinsurance market.
- Users can also secure their allocation on DIP tokens and receive a bonus. They Will get a10% token bonus for locking up the tokens for 12 months. The smallest denomination value is 10 ETH or USD 10,000.
Launch Your Decentralized Insurance Platform Like Etherisc With Cryptocurrency Exchange Script Today!
Cryptocurrency Exchange Script is a leading name in the blockchain industry. It has a vast experience and expertise of 7+ years. We develop white-label decentralized Insurance platforms like Etherisc that can be customized as per the business needs and standards of our customers.