What products will InsurAce provide?

The InsurAce platform will provide covers on smart contract cyber threats at the start which is the most demanding in the current DeFi space.

Unlike other single protocol based platform where the capital pool and the cover purchase is per protocol, InsurAce will adopt the portfolio-based design to pool all injected mutual funds into one pool and provide multiple protocol protection together. Basically, we plan to offer the covers in two approaches:

(1) User Defined Portfolios

When customers enter the Insurance Portal, they may choose one or multiple protocols as a portfolio to get a quotation and place the order, which is flexible and direct.

(2) Off-the-shelf Portfolios

To facilitate the customers, InsurAce will also provide some off-the-shelf product portfolios categorized by different criteria, such as:

· By protocol business type: a portfolio product to include the major protocols in Lending, or Decentralized Exchange (DEX), or Oracles and etc. so that customers can cover the risks of a business sector by one product;

· By protocol risk level: there will be an open risk assessment methodology to give a risk score for each protocol on-boarded, and a portfolio product that covers the same risk level protocols can be bought in one go.

At the start of platform launching, InsurAce will carefully select a list of protocols to be listed and offered. To on-board a new protocol subsequently, it will be mostly based on proposals from the community and subjected to community voting, in which the risk assessment methods will be employed to form a risk score for the protocol and be accounted into the pricing process.

Along the way, other types of risks such as asset volatility, flight delay, disaster and etc. will also be considered to enrich the product basket and enable a more comprehensive coverage.

About InsurAce

InsurAce is a decentralized insurance protocol, aiming to provide reliable, robust and carefree DeFi insurance services to the DeFi users, with very low premium and sustainable investment returns. InsurAce’s highlights include “0” Premium, Enriched Product Line, SCR Mining and Sustainable Return. InsurAce’s mission is to redefine DeFi insurance and protect users from security risks with user-friendly product accessibility and capital efficiency.