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ExtremeInsureMe DAO - Cover for living a life less ordinary


Community Defi





13 DAI
9 contributors

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Next update : 4 minutes from now | Last updated : an hour ago


{"ops":[{"insert":"A fully decentralised front end & back end '"},{"attributes":{"bold":true},"insert":"cover'"},{"insert":" to replace traditional insurance using DIFI wallet and bonding curves.\n\nNo Exclusion Cover for Extreme Sports & Adventure Travel Lifestyles\nThe ExtremeDAO covers you to participate freely in any of the activities you love."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"No fine print, or add-ons; any sport, any location, any altitude, it's all included."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"With the ExtremeDAO, everything is transparent. There is a flat fee of 20% for fiat<>crypto wallet support and to establish the infrastructure."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"If you leave, you get back anything you put in less the fee."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"By working together the community aims to provide cover up to $25,000USD."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\nApplication for GitCoin\nThe aim is to create a simple to use fully decentralised cover that offers a $25,000 USD payout upon accidental death (subject to funds in the DAO). This amount is sufficient to return the body to a family, cover funeral costs and any travel required from any location in the world."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"The efficiency brought by cloud technology, automation and blockchain results in lesser premiums as smart contracts don’t require the risk to be transferred. The current model includes a broker, insurance provider, the reinsurance provider. Ultimately the risk owner is far removed from the actual risk, what if your cover was fully automated, completely transparent and community managed with local support?"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"For $25USD a month payable in ETH (or Fiat via an exchange) and we’ll hold the value of the fund in an escrow account stored in a smart contract. Effectively users retain their own funds in the pool, less a 20% fee paid to ExtremeInsureMeDAO which covers the cost of operations and technology R&D."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Non crypto users will be enabled to purchase the cover via a monthly payment on their credit card, the community will provide support for the use of metamask to on-board them to the DAO."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"In the case of a claim event, the amount is paid to the claimant based on a % of that customer's tokens to their nominated beneficiaries."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"At any time the user can sell their tokens and effectively cash out the policy, less 20% which is to cover R&D to build the stack."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"The claims process will be transparent and managed via a DAO."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"The help we need now is to integrate the off the shelf subscription platform with a crypto payment API and the MetaMask AP and Alchemy. We need $2,500USD for each integration as we’re using an off the shelf open ERP called Odoo for the beta which we’re hosting on our own servers, We aim to raise $10,000 to create a small fund for a developer to leverage the API to mostly automate the service. The minimum we need to raise to have a meaningful impact is $2,500USD."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"CreditCard to Crypto API"},{"attributes":{"indent":1,"list":"ordered"},"insert":"\n"},{"insert":"MetaMask Wallet API"},{"attributes":{"indent":1,"list":"ordered"},"insert":"\n"},{"insert":"AlchemyDAO Claims Process"},{"attributes":{"indent":1,"list":"ordered"},"insert":"\n"},{"insert":"EtherScan API integration into Accounting Module"},{"attributes":{"indent":1,"list":"ordered"},"insert":"\n"},{"insert":"We have found a potential developer and are working on the architure to ensure we can secure the movement for crypto assets."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"If you like the concept and want to contribute a significant amount we would build a difi wallet. At this stage we are use low cost building blocks to test and validate. We have approx 50 people ready to join the DAO but have had this delayed due to high GAS fees."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\nBackground\nExtremeInsureMe was first conceived in 2013 when Jesse was unable to find life cover that would provide him with insurance that would take care of his family if something went wrong when he was racing his sports car. Matthew travelled to Mexico to go kitesurfing in Los Barriles, in 2018 he rode a Mountain bike over the Alps from Tegernsee in German through Austria to Lake Garda in Italy and in 2019 he learnt to Freedive in Timor Leste."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"We know it is easier to find exclusions for insurance then inclusions, every time we did something fun it wasn’t covered and this causes us concern as fathers. We decided to use crypto assets as a way to fully decentralise the back end and front end for a new way to manage risk when you live your fullest life. "},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"Here we come to take on the big boys who don’t trust you when you make a claim and haven’t thought accurately about the real support that is needed, not just financial payment after the fact."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"The next 12 months are important for us to validate the idea, build the initial fund with friends and family so we can expand this offer to others globally."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\nThe problem\nThe ExtremeDAO is designed for people who take the road less travelled. You love the adrenaline kick of adventures but don’t want to leave your family with a burden if the worst case happens."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"To access insurance cover for these types of risk, multiple add ons are required for special packages which rack up high costs for consumers. The whole process of finding the appropriate cover is difficult and rarely does it meet all of your needs, athletes and weekend warriors often will have areas where they don’t have a cover and choose not to extend this because it only is required for 5 hours during their trip."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"We believe our initial DAO offer will appeal to backpackers and fully independent travellers and adventure athletes that are looking for long-stay travel insurance, though due to ease of use and segment size we expect early adopters to be in the single trip category, people are searching for sports or travel health travel cover POSTCovid."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"We're not trying to build a company, we are creating a community that can support each other in times of need. Getting a payout after the fact is out of date, payments should be global and realtime and what you really need is local support. We want to flip insurance on its head by making cover fully transparent and building resilience into a community."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"If we get this architecture right the model can be opened for supporting the un-insured."},{"attributes":{"list":"bullet"},"insert":"\n"}]}

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