InSure Defi is a community-based insurance platform where users can buy SURE with Cryptocurrencies. The capital required to back the risks is based on the market pricing of SURE and community demand for insurance.

InSure has a competitive advantage. The health of financial information, such as the usage of funds and whether there are sufficient premium floats to pay potential claims, is a key factor in making a good insurance platform. The same copy of the data is held by each node of the distributed ledger. Every insured person can see the synchronized and updated data when it changes, making the operation of each fund open and transparent.
How it works is the economic model. There is a It is based on:



Capital model. There is a The primary concern of the insurance capital model is to calculate the capital required to guarantee the solvency of the risk pool to some arbitrary and high confidence level. There is a The minimum capital the fund needs to hold is calculated using the Capital Model.
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I. There is a There is a There is a surplus pool. 40% of the premium will be added into the surplus pool. 10% will be reserved until the contract is over. The surplus pool will be added if there is no claim. Over time, the surplus pool will be used to cover insurance claims. The capital pool will be used to pay the rest if the surplus pool can't cover all claims. There is a There is a The first phase will focus on the risk against scam, devaluations and stolen funds.
Governmented by a community. All operations on inSure can be completed by smart contracts. In order to take into account the interests of users, better achieve decentralization effects, and ensure the process to be more transparent, decisions of certain events will require the community to vote. The platform will set up an inSure DAO organization to facilitate such decisions. InSure doesn't have the custody of the fund pool or the ability to release funds to any specific person. There is a The two core principles of sustainable are that the interests of community members are ensured by ensuring the viability of the overall funding pool and that sustainable premium increases and inSure DAO membership growth are promoted. Several people with expertise in insurance, co-governance, andBlockchain are members of the inSure DAO organization.

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I. There is a Members of the inSure DAO can propose and negotiate relevant proposals. Clear voting options and inSure DAO's recommendations must be included in the voting proposals. The result with a majority decision will be implemented after each community member is given a period of time to vote.
Future integration for automated claim processing of stolen funds and scam events using the cloud platform. InSure DeFI is working on a hybrid on-chain/off-chain application combining Chainlink and the cloud.

After reviewing various oracle solutions, we decided to use Chainlink because of its time-tested security and flexibility. Leading projects like Aave, Synthetix, and more use Chainlink to secure over $10 billion dollars in on-chain value. Its network is backed by a large collection of secure node operators that are run by leading daims, which are aggregated into oracle networks to provide highly available, accurate, and tamperproof data feeds.
By combining its high-quality data and ability to connect to Big Data warehouses off-chain, inSure can build more robust and refined insurance products.