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Ethsurance

Ethsurance is a decentralized insurance platform that uses subscription based model to allow users to create and cancel subscription policies based on natural disaster API

Ethsurance

Created At

ETHGlobal Bangkok

Project Description

Ethsurance is a decentralized insurance platform that uses subscription based model to allow users to create and cancel subscription policies. The user’s money from the subscription will be thrown inside a pool, that allows the platform to provide insurance claim to the user suffering from disasters. By using the Earth Observatory Natural Event Tracker API, the website will automatically check the user’s current latitude and longitude using a scheduler to track once every 6 hours.

By implementing bounding box, the system will check whether the user’s location is within 100km radius of a number of different coordinates that are suffering from natural disasters. After deploying Scroll for faster transaction processing, Ethsurance will leverage the scalability and low-latency benefits of zero-knowledge rollups to ensure that claims are processed efficiently. To encourage more users to onboard our platform, we use Privy to ensure a seamless account creation process. 
The Graph is utilized to provide a scalable approach to dynamically track child insurance contracts through the use of templates. The website will send a notification to the user if they have insufficient funds when their subscription is ending soon using Push Protocol.

How it's Made

For our frontend development, we are using Nextjs Typescript with libraries like ether.js, @privy-io/react-auth, node-schedule, and @pushprotocol/restapi. Our smart contract uses solidity which sub modules like openzeppelin-contracts, openzeppelin-contracts-upgradable. Foundry is used for testing. Using Push Protocol, users can receive a notification once they have insufficient funds for their next billing. This ensures that users are immediately informed without having to check the platform constantly. Scroll is quite great at ensuring that the submission of insurance claims to our users to be faster and seamless. Privy is a great way to introduct a web3 solution to a web2 market. Using The Graph is especially amazing to use, as not only it allows the retrieval of customizable data and specify the fields needed. The Graph also provides the feature to dynamically track events from newly created contract, which saves more time when it comes to finalizing our project.

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