Intro

InsureX functions as the first AI insurance DAO built on zkSync. Insurance is a long established industry in the real world world, however it is extremely fragmented and there are no reliable solutions in the blockchain and metaverse industries, respectiely. With the advent of activity that will be happening on layer 2 blockchains like zkSync, it is necessary for users to have an insurance backstop on the activities which may occur.

Insure X is a decentralized insurance platform for crypto portfolios and DeFi that aims to create an ecosystem for distributing risk. The platform uses a dynamic pricing model that determines premiums based on the market price of SUREX tokens and the demand for insurance on crypto portfolios. InsureX aims to address the agency problem that is inherent in the traditional insurance industry by providing a more efficient and cost-effective insurance market.

The platform employs a decentralized support system that utilizes InsureXDao voters to maintain the integrity of the claims process and prevent fraudulent activities. InsureX adopts an actuarial pricing model that calculates the most optimal price to sell insurance using artificial intelligence. Additionally, the platform uses a capital pool that ensures there is sufficient capital to manage claims at any given time. The risk assessment model and the claims mechanism function as a dao to handle claims in a transparent manner.

Overall, InsureX aims to provide faster and more accessible insurance coverage for underserved markets like DeFi and crypto while creating a safe and secure crypto space where investors can invest with confidence and peace of mind.