Etherisc: Reinventing Insurance
Decentralized insurance protocol to collectively build insurance products.
We demonstrated a prototype for social insurance on the blockchain as
our submission for the Blockchain Virtual GovHack in UAE.
Etherisc won the Blockchain Oscar for “Most Innovative Blockchain Startup”. We also started working with EY to explore the regulatory and legal aspec
Etherisc joined the Enterprise Ethereum Alliance and started the Insurance Working Group there, which Stephan and Christoph chair.
Etherisc won a jury award at ICO Summit in Zürich, Switzerland in the pre-ICO start-up category.
We sold more than a hundred flight-delay policies to travelers to the Devcon3 meeting in Cancun, the Summit in Zug and the Summit in San Francisco
In December 2017 we founded the Decentralized Insurance Foundation in Zug,
Co-founder, Protocol & Architecture
Christoph has a long record of accomplishment in the cooperative banking sector in Germany.
After several years on the board of a cooperative bank, he switched to the IT segment and became Chief Program Manager Credit Solutions and Chief of Strategy Development at Fiducia & GAD IT AG – one of Germany’s biggest IT Service Providers. Since 2015, he has been CEO of parcIT GmbH, one of Germany’s best-known companies specialized in risk management solutions.
Due to his many years of working in the field of banking and insurance, Christoph is highly experienced in all matters concerning regulatory frameworks. He also co-founded Progeno Wohnungsgenossenschaft eG, a housing cooperative in Munich, which has successfully crowdfunded a large residential project in Munich.
Christoph has a master’s degree in mathematics and wrote his thesis on formal soft- and hardware verification.
Co-founder, Ecosystem & Community
Stephan is digital strategist at disrupt consulting and has more than 20 years experience in IT businesses. He advises finance and telecom enterprises on digital strategy. In 2015 he was part of the of the UBS crypto 2.0 innovation lab at Level39 in London. Stephan has been working on digital currencies since 2008 and likes to play with blockchains.
Co-Founder, Insurance Products & Revenue
Before joining Etherisc, Renat was Venture Partner at Runa Capital and CEO of Altoros. Most recently Renat led inception of insurance practice at Altoros together with its key customers Allianz, Allstate and Liberty Mutual, focusing on canonical use cases of blockchain, - fronting, reinsurance and insurance securitization (catastrophe bonds). Renat co-founded Altoros, a 250+ employee strong software and research laboratory in the area of distributed databases, container orchestration & developer marketplaces.
Renat began his career in 2001 as a software engineer at a regulated insurance intermediary in Tampa, Florida. Using Perl/CGI/LAMP, he built one of the first online distribution portals in the insurance industry. Real-time quoting, payment and policy issuance gave uninsured consumers in the US same-day access to a network of 30,000 doctors. In 2007 Renat co-authored Apatar, - GPL-licensed, 100% open source data integration tool, and co-founded Belarusian Java User Group. Renat studied Engineering at Belarusian National Technical University.
Dr. Marie-Luise Meinhold is social entrepreneuse with ten years of experience as a specialist and manager for a global insurance company. With her knowledge of insurance companies, product development, claims management and sales she founded ver.de Versicherung, which is attended by leading heads for Sustainable Entrepreneurship, Insurtech, Sales and Communication. Marie is the first woman in Germany to found an insurance company. She has a clear vision: to build an insurance that will bring about positive change with every pulse stroke - for the customers and for the planet.
Press relations, Management assistant
Julia Lange, born in 1976 in Barcelona, comes originally from the film branch. After her Master at the Munich film college, Julia worked as a screenwriter, editor and production coordinator for many years as well as in the area of Press work and public relations. Till this day she acts as a free author - preferentially in the area of Cabaret and comedy. Since July, 2017 she supports ETHERISC as a Office Manager.
Ron is the CEO of AugmentPartners Limited, a private software development company focused on decentralized trading DApps, market liquidity, and blockchain data management. Ron is also an early advisor to the Augur Project -- a decentralized Prediction Market built on the Ethereum blockchain.
Previously, Ron founded Intrade.com and Tradesports.com. Intrade was the world's most popular (centralized) Prediction Market from 2007 until 2012.
Prior to focusing his attention of crypto assets, Ron traded commodity options and derivatives for more than 25 Years on the trading floors in NYC and London.
Entrepreneurs. Invested. Involved. This is the core mindset that Ralf embodies as Co-Founder of Lakeside Partners, a leading early-stage investment company in Crypto Valley. With 20 years of experience as a business- and IT-consultant and in his role as Managing Partner at inacta AG, a major Swiss Information Management solution provider, he possesses extensive expertise in transforming the insurance industry, as well as a diverse entrepreneurial background stemming from several ventures and advisory board positions. Ralf brings a passion for innovation and first-hand knowledge of the Swiss business landscape in his role as strategic advisor to the Etherisc project.
Jake is Co-Founder and Managing Partner at CoinFund LLC, a blockchain advisory company and a cryptofund operating since July of 2015. Jake has 9 years of experience in pure and financial technology, a background in computer science and mathematics, and an avid interest in blockchain and financial technology. He is co-author on multiple blockchain whitepapers including Etherisc, Kin, Sweetbridge, and others. Previously, Jake was Partner & CTO at Triton Research, a technical product manager and engineer at Amazon.com, and spent five years as a financial technologist at Highbridge Capital Management and as a quantitative researcher at Kohera.
William is a Toronto-based investor, researcher, blogger, and author of The Business Blockchain (Wiley, 2016). He is a direct participant in the crypto-technology market, currently on the Board of Directors of OB1, the OpenBazaar open source protocol that is pioneering decentralized peer-to-peer commerce, a former Board Advisor to the Ethereum Foundation, board member at Stratumn, a member of OMERS Ventures Board of Advisors, an Advisory Board member to the Coin Center, Bloq and other leading blockchain organizations. He blogs regularly about the present and future of blockchains at Startup Management.
Tobias has been insurance broker since 1991. At ATS Insurance Brokers he held power of attorney and shareholder roles, until the company was acquired by Aon Risk Solutions (ARS) in 2004. Tobias was regional manager for ARS Berlin (Germany East) and held key accounting and sales roles. He has been member of the ARS Operational Board and in a special projects role since 2016.
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Is Etherisc a decentralized insurance company?
No, Etherisc is a protocol to collectively build insurance products. Common infrastructure, product templates and insurance license-as-a-service make a platform that allows anyone to create their own insurance products.
What is Etherisc DIP?
DIP stands for the Decentralized Insurance Protocol and also for Decentralized Insurance Platform. The Protocol provides a permission-less, generic mechanism by which risk of any kind can be priced, serviced, and transferred by a group of independent service providers without having to rely on centralized parties.
What is The Decentralized Insurance Foundation?
The Decentralized Insurance Foundation (DI Foundation) is a non-profit foundation organized under the laws of Switzerland, Canton of Zug. Its mandate is to ensure open access to the protocol and platform, provide long-term governance, community, and ecosystem, and be a custodian of funds raised. The DI Foundation is conducting the Token Generating Event. Under US law the DI Foundation is the issuer of the DIP tokens.
What is DIP Token?
DIP Tokens act as the native internal currency that is inseparable from the protocol and network of its users. DIP tokens are needed to earn transaction fees (% of insurance premiums or fixed cost), incentivize and reward platform users to bring risk to the network, build and maintain risk transfer products. The total supply of Etherisc Tokens is 1 Billion.
Why does Etherisc need its own token? What is the utility of DIP token?
DIP tokens give users access to the Decentralized Insurance Platform. By staking DIP token, participants provide collateral (bond) to guarantee future performance, availability, and service levels. Staking also signals quality and reputation. As a result, participants can earn money monetizing their skills, software (for example risk models or UI/UX), risk capital, insurance licenses, claim processing, or regulatory compliance/reporting services.
How can I get involved?
To support the development and promotion of the Decentralized Insurance Protocol, you can contribute to the Etherisc DIP Token Generating Event (TGE). Every contributor needs to register to participate and pass a mandatory KYC and AML check.
What is a TGE?
TGE stands for “Token Generating Event”. We prefer using this term over “ICO” or “token sale”. During the Etherisc DIP TGE, DIP tokens will be created on the public Ethereum mainnet.
Quick facts about the Etherisc DIP TGE:
Hardcap: 30 Million USD
Total Supply: 1 Billion (10^9) DIP
Tokens distributed during TGE: 300M DIP (= 30% of total supply)
Exchange Rate: 1 DIP = 0,10 USD
Only registered contributors will be able to participate in the Etherisc DIP TGE.
When is the TGE?
The Etherisc DIP TGE will start on Monday, 25 June 2018 at 15:00 UTC. That's 08:00 PST, 11:00 EDT, and 17:00 CEST.
The first phase of the TGE will allow contributions up to individual limits and will last for 5 days until Saturday, 30 June, 15:00 UTC. The second phase will last until 23 July, 15:00 UTC or until the hardcap of 30M is reached. To participate in DIP TGE, you need to be on the whitelist. Get registered at https://etherisc.com/registration. Whitelisting is open.
Why do I need to register for the TGE?
With insurance, we are entering a highly regulated business area, and we want to make very sure that we fully comply with Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) requirements.
How can I register for TGE?
What is KYC and AML? How does it work?
With insurance, we are entering a highly regulated business area, and we want to make very sure that we fully comply with the Swiss FINMA ICO guidelines and in particular with Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) requirements.
We use the following service providers: IDnow GmbH in Germany to identify individual contributors, Swiss based KYC Spider AG, to check compliance with AML regulations, and Bity.com to identify legal entities and individuals worldwide. There is a country selection at the first page of the registration process. The selected country will define the identification service provider to be used in the following process. If your country is supported by IDnow, you will be redirected to IDnow’s online identification service. If your country is not supported, you will get instructions to register with Bity.com and use their identification service.
During the online identification with IDnow, you will show identification documents to a human agent and verify their authenticity in a video call. The call should take you about 3 minutes. You will receive an email notification as soon as the identification process and all checks are successfully passed.
Please note that only Ethereum addresses from contributors who successfully pass KYC and AML will be whitelisted, and only ETH transactions from whitelisted addresses will be accepted in the TGE.
Does everyone need to go through KYC?
Yes, all participants of the Etherisc DIP TGE need to register and identify themselves.
What should I have in place before the registration process?
The registration and identification process includes showing your identification documents to a human agent during a video call. So, please prepare in advance:
Google Chrome or mobile app with
Access to camera/microphone on your computer/mobile phone
Stable Internet connection for at least 10 minutes.
How can I register if I represent a legal entity?
You can start the registration process at https://etherisc.com/registration. When prompted, send a support request to our team by email to [email protected] with the information on the planned amount and the entity to contribute.
I am from the USA, can I participate in the TGE?
We have updated the TGE terms and conditions to comply with the United States securities regulations. This enables US persons who are “accredited investors” to contribute to the Etherisc DIP TGE under Rule 506(c) of Regulation D. There are also some restrictions regarding the resale and transfer of DIP tokens to US persons. You can find more details in the updated TGE terms and conditions.
What is an Accredited Investor?
Accredited Investors is a term defined by the U.S. Securities and Exchange Commission (SEC). You can find more information in the investor bulletin published by the SEC. We are using an online service provider verifyinvestor.com to check the accredited investor status for U.S. participants. See https://verifyinvestor.com/support for more information.
Where do I get my Ethereum address?
Ethereum address is a public wallet address. If you are using Metamask plugin Ethereum address can be found as Account (it starts with 0x).
Please make sure that the Ethereum address will be able to receive and transfer tokens. Please don’t register with addresses from exchanges or from smart contracts which can’t move tokens. The standard Ethereum clients and normal wallets holding addresses where you are in control of the private key are fine, e.g. Parity, MyEtherWallet or MyCrypto, Jaxx, to name just a few.
How do I know that my Ethereum address is able to receive and transfer tokens?
To make sure that the address you use is able to receive and transfer tokens, don’t register with addresses from exchanges or from smart contracts which can’t move tokens. The standard Ethereum clients and normal wallets holding addresses where you are in control of the private key are fine, e.g. Parity, MyEtherWallet or MyCrypto, Jaxx, to name just a few.
Can I get a bonus?
As an Early Contributor, you can secure your allocation of DIP tokens and receive a bonus. You will get a 10% token bonus for locking up the tokens for one year. The first $10m of contributions which lock up get an additional 15% bonus, so 25% is a maximum bonus to get now for signing an Early Contribution Agreement and locking up tokens. The minimum contribution amount for Early Contributors is 10 ETH or USD 10,000.
How to become an early contributor (EC)?
You can sign an Early Contribution Agreement (ECA) with the Decentralized Insurance Foundation before the TGE starts. Use this docusign link to start the process.
Note that the docusign process works only for non-US persons. If you are a US accredited investor and interested in signing an ECA, please contact us directly via email to [email protected]
I think I am an early contributor (EC), what do I have to do?
If you want to join the Early Contributors and secure your allocation of DIP tokens, please follow the instructions here. If you agree to lock up your DIP tokens for one year after the TGE ends, you will also get a bonus. The bonus is 25% for the first $10m in contributions, which lock tokens, and 10% after that. The minimum contribution for an ECA is 10 ETH or 10,000 USD.
How much was raised in pre-sale and what was the bo
How much was raised in pre-sale and what was the bonus?
We decided not to do a presale. Everyone gets the same terms.
Do you have a live product?
Yes. Currently, 20+ products are being built from idea stage to production.
The most well-known are:
Flight Delay Insurance is in production on Ethereum—fully licensed, sold worldwide for ETH, USD, EUR. A developer earns 5% of revenue (set by the developer) and 100% of underwriting profit.
HurricaneGuard.io is deployed on the Ethereum testnet.
Crypto-backed lender insurance. Watch for the announcement from market leading crypto-backed lenders on the 2nd week of June!
DAO/smart contract insurance is in design/prototyping.