Etherisc

Etherisc, as a founding member of the Lemonade Crypto Climate Coalition, contributes blockchain-based parametric insurance solutions to protect smallholder farmers against climate risks. Using smart contracts on public blockchains, we enable instant and automated payouts triggered by weather data, reducing administrative costs and ensuring transparency. By leveraging decentralized technologies and a common risk pool, we provide affordable, scalable, and trustless insurance, helping communities build resilience against climate change while promoting financial inclusion.

Etherisc has introduced a pioneering parametric insurance solution to safeguard USDC holders against depegging events and further enhance financial security for USDC users. This decentralized, peer-to-peer protection mechanism offers automated, pre-specified payouts when USDC's value deviates from its $1 peg by 0.5% or more for over 24 hours. Utilizing Chainlink's USDC/USD Price Feed, the system ensures accurate and transparent trigger event verification. Policyholders benefit from immediate, trustless payouts without the need for complex claims processes.

Etherisc's decentralized insurance platform offers innovative solutions to enhance healthcare insurance by leveraging blockchain technology. Key features include: Streamlined Processing: Utilizing blockchain's transparency and security, the platform automates parametric, value-based health insurance transactions, leading to faster reimbursements and reduced administrative overhead. Personalized Insurance Plans: By integrating data analytics, the platform enables the creation of tailored insurance plans that cater to individual healthcare needs and preferences. Data Security: Committed to maintaining high standards of data security and privacy, the platform ensures that sensitive healthcare information is protected at all times, complying with HIPAA requirements. Cost Reduction: Through decreased administrative costs and optimized insurance plans, the platform aims to make healthcare insurance more affordable for both individuals and healthcare providers. Healthcare Innovation: The platform fosters advancements in telemedicine, preventative care, and patient outcomes, promoting innovation within the healthcare industry.

Etherisc's Flight Delay decentralized application (DApp) offers travelers a blockchain-based insurance solution against flight delays and cancellations. By leveraging smart contracts on a public blockchain, the DApp ensures automated and immediate payouts upon the occurrence of predefined delay conditions, eliminating the need for traditional claims processes. Travelers can purchase policies through a user-friendly interface, specifying their flight details and coverage preferences. If a flight is delayed by 45 minutes or more, the system automatically triggers a payout immediately after landing, providing prompt compensation without manual intervention. This approach enhances transparency, reduces administrative overhead, and delivers a seamless experience for users seeking reliable travel insurance.

Together with HBA Consulting, Etherisc has developed "Banny," a pioneering blockchain-based annuity pension insurance product built on the Etherisc platform. Fully deployed on the Polygon blockchain, Banny is designed for one-time payments with annual payouts. It employs advanced mortality calculations for precise actuarial predictions and implements a "proof of life" system through assigned on-chain transactions, ensuring efficient and secure payout validation. The product is currently in the process of white-label distribution, with the team engaging with licensed German insurance companies to bring this innovative solution to market.