What is Nsure-network?
Nsure is an open insurance platform for open Finance. The project is inspired by Lloyd’s London, a market place to trade insurance risks, where premiums are determined by a dynamic pricing model. Nsure is designed to solve the principal agent problem and allow anyone to become an insurance issuer for the DeFi sector. While conventional insurance depends on issuer’ judgment on claims, Nsure rids these unequal judgments by adopting on-chain resolution via claim assessors.
Nsure’s “DeFi insurance” is based on 1) supply demand driven Dynamic Pricing Model, to find the right price; 2) the Capital Model, to secure capital required to back the risks at any point in time; and 3) 2-phase crowd voting mechanism, to make sure every claim is handled in a permission-less and transparent manner. Nsure Network is a permission-less platform for whoever wants to purchase coverage. Underwriters can utilize NSURE to stake on specific insurance risks to receive a share of daily insurance premiums.
