PolkaCover AMA
We were delighted to have Kunal Sadani from PolkaCover join us for our latest AMA.
Hello! Welcome to InsurAce.io. Can you briefly introduce yourself?
Sure! My name is Kunal Sadani, I’m the CEO of Cover Compared, powered by PolkaCover.
To give a bit of background on myself… I have been based in Dubai (UAE) for over 15+ years and the majority of my experience has been in developing, building & managing large-scale B2C insurance products & markets with multinational insurance companies (AIG & Allianz) in senior leadership roles building products & partnerships in the Middle East & Africa Region. In my last role, I was heading the Retail Insurance vertical for Policybazaar
( which is an insurtech valued at over $1billion with VC partners like SoftBank & Tencent)
As a crypto enthusiast myself I saw that the community was being neglected by the traditional insurance sector while there was a massive need for insurance products with not many providers in this space. I took the mission upon myself to create an insurance marketplace platform that could benefit the larger crypto marketplace, making insurance accessible to anyone and everyone
Q) We would like to know a bit more about Cover Compared and what exactly makes it different from other crypto insurance providers?
Cover Compared powered by PolkaCover is the world’s first DeFi insurance marketplace.
I wouldn’t call ourselves a crypto-insurance provider but mainly a crypto-insurance aggregator.
Users can compare and evaluate the comprehensive product outlined in a simplified way. The streamlined process makes it easy for users to choose the best-suited policy for their needs. Cover Compared gives complete transparency on all lines of insurance products listed, it could be any product traditional or crypto, all with the option of paying in a host of cryptocurrencies.
Our users will be assisted by our AI-based Claim Management System, ensuring that every claim submitted by the user is given utmost priority and immediate attention.
Just with a click of a button, users can submit their claims, and we will offer them a seamless claims management experience!
Cover Compared simplifies the traditional insurance process and offers immediate foresight to the users helping them be well-informed before purchasing the cover.
Q) How do we purchase these policies on Cover Compared? Can you tell us a little bit more about different payment options?
Since Cover Compared is an insurance aggregator offering crypto and traditional insurance products we give users multiple payment options. The end-user on our platform can purchase using cryptocurrencies.
Our token $CVR gives users additional benefits while purchasing the covers.
With regards to the utility, there are several use cases where the token is used,
a few of them are mentioned below
1) Crypto Insurance Policy Purchase
2) Policy Discounts
3) Staking / Risk Assessment & Governance Rights
4) Claims Payout
5) Cross Border Policy Issuance
Q) I’m sure the community is eager to know more about your integration with InsurAce.io. Tell us more about it!
Joining our platform is one of the leading decentralized insurance companies in the crypto space right now — InsurAce.io. They provide 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, InsurAce.io offer a unique range of insurance products that are specifically tailored to meeting unmet needs within 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.io offers almost 70+ different insurance protocols that provide protection against different risks in the cyberspace. The products are:
- Smart Contract Vulnerabilities
- IDO Event Risk Coverage
- Custodian Risk of wallets on Binance, Coinbase, FTX and Huobi.
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.
Q) What does the future look like for Cover Compared? Do you have any updates on the dApp?
The future looks bright for Cover Compared!
We have numerous globally recognized insurance providers lined up for integration — our basket of protocols listed are constantly getting bigger and as we engage in more partnerships, our global presence and network will continue to improve. Cover Compared will continue to experience sustainable growth as a pioneer in the world of cryptocurrency insurance.
As for our dApp!
Our dApp is almost ready.
As our launch of CoverCompare is targeted for Q3 of 2021, we will be the world’s first insurance marketplace that will cater to everyone’s needs — whether they are someone looking to insure traditional assets, crypto funds, or even themselves. Users will gain a sneak peak to our dapp through a testnet that will be launched soon!
Ok, thanks for the answers @ksadani, we’re now going to open up the group to questions from our community.
We’ll keep the group open for a few mins to get some questions and we’ll answer as many as we can in the time we have.
NOW OPEN FOR QUESTIONS
Crypto Junior:
How will this partnership benefit us in the future?
Excellent question! As a part of the integration InsurAce’s products will be offered on our platform.
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.
Nicole
What can we expect from the @insurace partnership?
Well I would say you can expect great things! Users will receive complete transparency on the insurance product listed by communicating every element of the product giving immediate foresight to the users helping them be well-informed before purchasing the cover.
Additionally, users will be assisted by our AI-based Claim Management System, ensuring that every claim submitted by the user is given utmost priority and immediate attention.
Zakie Ikhsan alfariza:
what is your theme?
Our theme is providing users a one stop shop insurance marketplace that is built on pillars of transparency, honesty and integrity. We seek to fill the void that currently exists in the insurance sector for cryptocurrency and pave the way for added security protection of crypto investments.
Moses Will
With your explanation of “ONE STOP SHOP Service”
Would user buy insurance cover directly from your platform(intermediate processor) or they would be directed directly to InsurAce
You will be able to buy the products on our insurance marketplace 😊
erdem özkul
Especially for the new projects community is crucial. Do you think you have achieved enough community? And can you tell about your communities? And What will you do to attract people to the project? Thanks.
We are deeply thankful for the support from our community. We are continuing to expand our partnership network and optimize our services…. we are confident that our user experiences are only likely to improve further in the future. We have aggressive marketing strategies in place as well to build our audience! Stay tuned
I think we can wrap up this AMA there. Thank you so much Kunal
Can you send us some links to your project and community so our guys can get more involved and learn more?
Thank you so much for all the questions!
Here are our official social media channels:
https://twitter.com/polkacover
Thanks Kunal! And thanks everyone!
