AMA recap with UniArts Network
We had the pleasure of joining UniArts Network for a delightful AMA session this week. In case you missed out, here is a recap on all the topics discussed:
Please begin by introducing yourself & your platform
Sure ! My name is Kunal Sadani and I am the CEO of CoverCompared.
As a bit of background on myself, I have lived in Dubai (UAE) for over 15 years. I’ve spent most of my career developing, building & managing large-scale B2C insurance products & markets for multinational insurers (AIG & Allianz). I have worked in senior leadership roles building products & partnerships in the Middle East & Africa Region. In my last position, I headed the Retail Insurance vertical for Policybazaar (an insurtech valued at over $1billion with VC partners like SoftBank & Tencent).
Our project came into fruition in late 2019 and the main aim is to emphasize safety for users by offering insurance coverage either in the traditional sense or for your crypto assets at affordable rates.
We at CoverCompared are bringing forth a platform that will offer a combination of traditional and crypto-asset-based insurance policies to our users at incredibly affordable rates, all in exchange for cryptocurrencies.
What are some of the major service offerings from CoverCompared?
CoverCompared is basically a frictionless marketplace that offers varied traditional as well as crypto-asset based insurance policies so that our users can customize & purchase as per their needs. We take pride in being the first-ever platform to revolutionize the insurance industry by offering various policies all in one place in exchange for crypto tokens thus further pushing cryptocurrency as a mainstream payment system.
With threats looming within the digital as well as the real world, insurance has become a need more than a luxury. We aim to solve this need for users to provide adequate coverage to protect themselves and their crypto belongings.
We are also the first-ever platform that enables users to engage in policy purchasing alleviating any burden of gas fees on our users.
What are some of the benefits from this partnership that our community can look for?
We are more than thrilled to be partnering with UniArts & getting access to your wonderful community. NFTS as we all know are also quite vulnerable to threats & risks within the digital world. Through this collaboration, the UniArts community will gain access to our platform where users can choose from a varied pool of insurance policies to safeguard their NFTs against vulnerabilities. Simultaneously, this alliance will also provide CoverCompared users with a platform where they can collect, display and interact with NFTs in a shared safe space.
How would you say CoverCompared stands out in the DeFi space?
At CoverCompared, we are always on a constant journey to bring forth new innovations to the DeFi space that would suit the need of users. As mentioned, we are the first-ever marketplace to offer a combination of traditional as well as crypto-asset based insurance policies & provide the option for our users to pick & choose as per their needs all in exchange for their crypto tokens. Our policies are also priced at extremely affordable rates than on any other platform.
This has never before been done and will further revolutionize the way we view the insurance industry & pick up the pace as we turn more digital. Another unique prospect is our gasless policy purchasing; while many users are hesitant to transact on the Ethereum chain due to the burden of heavy gas fees, we eliminate this issue as our integration with Biconomy will allow for users to now engage in gasless transactions only at CoverCompared.
For the sake of our user’s curiosity, what does CoverCompared have in store for the future?
We are very excited about all the works we currently have in the pipeline! As the new year begins, we have so many new & amazing things in store for our community whether it be in regard to onboarding new partners or us nearing our dApp launch.
We are constantly & consistently trying to infuse the latest technology to bring forth innovative creations for our users & our future looks ever so bright. So stay tuned!
We then moved onto opening the community to answer some burning questions from our users.
Q. What are the unique features of CoverCompared?
At CoverCompared we excel at having unique features! We are the first-ever multi-chain insurance aggregator that offers traditional & crypto-based insurance policies all of which can be bought for cryptocurrencies which is something that has never been done before.
To be able to secure yourself & your belongings for crypto is an incredibly new idea that we are bringing forth. Along with this the concept of gasless policy purchasing is also comparatively new and needed currently as users are hesitant to transact due to heavy gas fees levied.
Our most unique feature is our token $CVR through which you can reap very many benefits including getting a 25% discount when purchasing our policies with $CVR.
Q. Any updates on the Dapp?
Our testnet & bugbounty programme is still live & we are pleased to announce that we are nearing our dApp launch which will be soon.
Q. Are you listed on any exchanges?
We are currently listed on 3 exchanges:
Orion Protocol: https://trade.orionprotocol.io/pools/CVR-USDT
Q. Is the bugbounty programme still ongoing?
Yes, our bugbounty programme is still live and you can still participate for a chance to win a combined prize pool of 100K USD worth of $CVR. Just follow us on our socials such as Twitter, Telegram LinkedIn for any updates. You can join our bugbounty programme through our testnet dApp below:
Q.Any new partners coming onboard?
Yes, you can see very many partners coming onboard soon. We recently partnered with InsuredNomads; who is a travel insurance provider. CoverCompared will now be providing travel insurance in exchange for cryptocurrencies.
This is just one of the many, so stay tuned & follow us on our socials for more.
CoverCompared is the First DeFi insurance marketplace for the global crypto ecosystem. We aim to lower transactional and administrative costs of insurance policies and coverage while providing high-value, cost-effective insurance products bought using a host of cryptocurrencies.
Our platform will be connecting users with multinational insurance providers for all global insurance products such as crypto-related protection, health, life, and travel policies. The platform will include a frictionless insurance marketplace experience that incorporates next-generation blockchain technology and tokenized incentives.
UniArts is an NFT marketplace with substrate-developed mainnet as well as EVMs based smart contracts for NFT infrastructures. It also provides crowd voting incentives, DAO curation, and art grant to help better achieve the democratization of art.