InsurAce.io : our second official insurance partner
Cover Compared is surging to new heights!
Not long after Nsure was announced as our first partner, we are ecstatic to introduce InsurAce as our second official insurance partner at Cover Compared! Cover Compared, powered by PolkaCover, is truly breaking boundaries in the cryptocurrency insurance industry.
We are constantly growing and expanding our platform to make sure that we offer our users the best policies and widest array of insurance options that are available in the market.
What is InsurAce.io?
Joining our platform is one of the leading decentralized insurance companies in the crypto space right now — InsurAce.io provides reliable, robust, and secure DeFi insurance services to its users. From insuring against smart contract threats to allowing users to secure their investments against cyber risks, IDO insurance, and Custody Insurance, InsurAce.io offer a unique range of insurance products that are specifically tailored to meeting unmet needs within the market.
As part of this partnership, Cover Compared users will gain exposure to and be able to purchase InsurAce.io’s premium insurance offerings. Simultaneously, the InsurAce.io community will gain visibility and wider market coverage by being integrated into the Cover Compared marketplace.
Our partnership with InsurAce.io will give users access to a one stop shop insurance marketplace where both traditional and crypto insurance products are listed.
InsurAce offers insurance on 70+ different protocols that provide protection against different risks in the cyber space. The insurance offered may broadly be categorised into:
- Smart Contract Vulnerabilities, protecting users’ assets against hacks and bugs.
- IDO Event Risk Coverage, to provide protection against smart contract vulnerability in case of a material loss of the insured crypto assets due to an exploit on an IDO event.
- Custodian Risk of Binance, Coinbase, FTX and Huobi. The custodian risk coverage provides protection against lost funds arising from criminal or fraudulent takings, or appropriation of assets by any person during the cover period on any one of the listed exchanges or wallets.
The benefits however do not stop here. The partnership between Cover Compared and InsurAce.io will enhance operations and optimize user experiences. Apart from the wide range of policies available, our platform will also include an AI based claim management system that will ensure submitted claims are prioritized and dealt with instantly.
Cover Compared is the way forward!
In an era where digitalization is peaking in every regard and cryptocurrencies are gradually becoming more established in the global landscape of currencies, the need for added security on investments is more than ever. Cover Compared is the way forward.
We not only build a bridge between the actual and virtual world, but also create a secure gateway for insurance protocols in the cryptocurrency realm. Our protocols are consistently updated to ensure we are up to date with market trends and that our users are well suited to adapt to any obstacles they may face.
As we continue to grow and establish more global partnerships, we believe the solutions we provide truly do cater to an unmet need that no other protocol is catering to. We are confident that our solutions optimize user experience and prioritize people’s needs above everything. We will continue to experience sustainable growth as a pioneer in the world of cryptocurrency insurance.
PolkaCover 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.
InsurAce.io Protocol is a Singapore-based DeFi Insurance protocol that has quickly become the second-largest protocol in DeFi insurance. The $INSUR token was released in February 2021, followed by a mainnet launch to the Ethereum Network in April 2021.
InsurAce.io is a decentralized insurance protocol, covering 60+ protocols on 8+ chains, built to empower the risk protection infrastructure for the DeFi community. InsurAce.io offers portfolio-based insurance products with optimized pricing models to substantially lower the cost, up to 60% lower than other protocols, simultaneously reducing gas fees by up to 50%.
The project lead for InsurAce is Oliver Xie, formerly the CTO in one of the three largest Singapore-based licensed derivative Exchanges and Clearing Houses.
There is a circulating supply of 11 million INSUR tokens with a maximum release of 100 million INSUR Tokens which can be mined through staking on the protocol.
Tokens can be used for staking themselves, and for governance of claims submitted through the dApp. Read more about the tokenomics here.
All Links: linktr.ee/insurace