Etherisc’s GIF is more than a unique platform, it’s a foundation for collaboration, Matthias Zimmerman, CTO of Etherisc argues.Building on the pioneering Etherisc platform makes it easier, more efficient and secure for new players to enter a rapidly growing on-chain insurance ecosystem. We’re unique in this space and are focusing on collaborating with other protocols, developers, investors and partners, to expand access to innovative, on-chain insurance products.What makes GIF v3 so revolutionary?GIF v3 is a robust platform that simplifies the development and deployment of blockchain-based insurance solutions.1. Supports entire insurance lifecycleEasy on-boarding for policyholdersPolicies are NFTs, enabling ownership, transfer and trading.Efficient risk pools manage capital for payouts.Automated claims processing based on predefined conditions.2. Automates new distribution channelsSmart contracts automate policy distribution fees and commissions, making it even easier to monetise products through diverse channelsReferral Codes: Streamlining sales processes with commission-based incentives.Customizable Distribution Models: Supporting various channels, from peer-to-peer to large-scale brokerage networks.3. NFT-Driven ArchitecturePolicies, risk pools, and other business objects are now NFTs, unlocking:Flexibility: Easy transfer and secondary market trading.Transparency: Immutable ownership records.Cross-Chain Compatibility: Enabling seamless integration across multiple blockchain ecosystems.4. Cross-Chain EcosystemOur platform now supports a multi-chain architecture, allowing interoperability across Layer 1 and Layer 2 blockchains. A global registry ensures easy access to contracts and data across networks, reducing fragmentation and enhancing scalability.Matthias also gave an overview of our Flight Delay product, demonstrating the framework’s potential. Originally introduced in 2016, this product has been rebuilt to showcase GIF v3’s advanced capabilitiesSimple and User-Friendly Interface: Policyholders can select flights, view reliability statistics, and purchase coverage with just a few clicks.Dynamic Pricing: Premiums are calculated using real-time flight delay probabilities, derived from FlightStats API data.Parametric Payouts: Smart contracts automate claims based on predefined delay thresholds, eliminating disputes and ensuring fast payouts.Risk Management: Features like cluster risk prevention and capital locking ensure sustainability.This is parametric insurance at its best: efficient, transparent, and automated.D1Conf: Etherisc platform: Building the future together was originally published in Etherisc Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
