A Look at Decentralized Insurance

October 20, 2022, 4:58PM EDT

• 10 min read

Quick Take

The insurance industry is a cornerstone of the financial sector, collecting over $1.36 trillion in premiums in the US alone.
With the recent surge in DeFi exploits, it has become imperative for the crypto space to review the maturity of its decentralized insurance alternatives.
While there are numerous solutions looking at providing decentralized insurance for crypto-specific events, there are usually trust assumptions in the claims process.
Generic frameworks, such as Etherisc, have surfaced to leverage blockchain technology to provide a decentralized alternative for real-world insurance.
Traditional centralized insurers are also beginning to enter the crypto domain, which could accelerate the development and maturity of insurance products for crypto.

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Source: https://www.theblockresearch.com/a-look-at-decentralized-insurance-178722?utm_source=rss&utm_medium=rss