CUSTOM JAVASCRIPT / HTML

INSUREBNB MUTUAL

LITEPAPER

Introduction

Bringing general insurance to the uninsured while getting rewarded for
using the platform through blockchain & smart contracts.

The information contained in this litepaper is not intended to be exhaustive and the
statements included in this litepaper are not intended to be relied upon or create or form
part of a contractual relationship (unless the context otherwise requires). 

Our First Problem

Airbnb is a worldwide online marketplace for lodging, primarily home stays for vacation rentals, and tourism activities. Our problem with it is. It doesn’t provide an option for insurance to the host users of these platforms and also to connect the community because this is what is all about but the solution seems far from simple. 

With confusing jargon to buy the insurance and expensive alternatives and also unrecognized or unlicensed insurers claiming to payout your claims. Take too long to respond or even the most important part - paying your claims. We have thought about it deep and long and...

What if we told you there is a solution, Leverage on the Defi blockchain and our smart contracts for our payout and through a faster speed up to 100x, simpler, cheaper way? Better yet. You will get your claim automatically claimed through our specialized AI bot trained to deal with your claims. Our AI bot will be dealing with your claims 24 hours, 7 days, 365 days a year. No more slow claiming process that you can only claim during the ‘working days’. Our AI bot will be learning as much as the community grows as it sees more and more of such claims each day as it goes through it’s machine learning process and it will execute the smart contract as it sees fits.

Unlike traditional insurance. InsureBNB is a BEP-20 token usable on the Binance Smart Chain. As more people come on board. The project will become more and more stable and our early adopters Our users will be rewarded with more of the tokens which can be used to purchase the insurances or cash out as the value increases and matures.

So What Do We Cover?.

Buying the cover

Choose the type of cover you want and get a quote.
Enter the amount you want to cover and for how long.

Quote details

This product covers any token or combination of tokens you have in the
protocol. In case of a claim, you'll receive the equivalent of your loss
in up to the covered amount.

Our Coverage includes:

Damage

  • Fire
  • Wind & Hail
  • Theft and Vandalism
  • ​Glass & Pipes

Building contents

  • Furniture
  • Electronics
  • Special cost evaluation model

Income

  • Covered loss time out (Based on last 3-month income)
  • Actual Loss sustained
  • And so much more.

Pointers

  • Verification of home address
  • Short term rental provider (Airbnb)
  • Term (Non-renewable)/ Renewable
  • Underwritten by InsureBNB® policy for the legitimate verification/certifications/accreditations
  • Define Coverage gaps (good thinking points)
  • Intentional acts by a renter such as vandalism, and limits on theft or damage caused by a renter.
  • Liability exclusions such as liquor, animals/pets, punitive damages, amenities such as a hot tub, and no coverage extension off premise.
  • No business income loss, no coverage for an invasion of privacy claim, and personal liability only which excludes business activity.
  • Limits on back up of sewers and drains, ordinance or law, and vacancy.
  • InsureBNB covers for rental use, No changes to your current Homeowner's policy.
  • coverage for building, contents, liability, and income.
  • Income: actual loss sustained business income coverage with no time limit.
  • Property coverage enhancement for theft and damage caused by a renter.

"Why do we have to deal with confusion about short-term rental insurance?
Home owner’s Policy? Landlord’s Policy? Commercial policy?
Never again. Well, I have a good news for you. All you need is INSURE BNB!"

Fred Yalmeh- Founder of InsureBNB

So What Do You Need To Do To Get The Cover?.

Being a member gives you the ability to swap IBNB tokens, buy cover, and earn rewards from staking, governance and claim
assessment. All funds raised from token purchases belong to members.


Membership Fee

Agreement

  • You own part of InsureBNB
  • You can buy cover and earn more IBNB, including voting on claims, deciding which smart contracts are secure and voting on proposals.

Legal Entity

  • InsureBNB is a blockchain-based organization with a legal structure making sure that the members are not personally liable as a whole. To obtain these benefits there are a small set of legal requirements to joining the InsureBNB.

Membership costs 0.0020 ETH (~$3.81)

  • A small membership fee is a legal requirement.

KYC / AML

  • To become a member, you will need to verify your identity using our Know-Your-Customer / Anti-Money-Laundering process. If this fails, your membership fee will be refunded to you.

So Why Do We Do It?. 

We do it because the Airbnb market is huge and untapped and there is a huge opportunity. We enable people to be able to insure themselves when they rent out a place for a short to long term stay and yet at the same time risk-sharing through the community.

So How Do We Do It?.  

We tokenize the whole process. Resulting in greater speed and zero discrepancies.  
Tokens for the insurance and secure storing of personal information:

  • Passport Details
  • Home address
  • Travel Details

External Oracles through chainlink can ensure that creating the most competitive pricing is data-driven by bridging the gap between the real world and blockchain

NFT is used to store your personal data and shall only be extracted in the event that you require a claim.

You are the Jury! Our online on-chain community will be your judge to determine the premium payment decisions governing expense ratio as compares an expenses incurred when underwriting a policy to the revenues it expects to receive from it

You will be the claims assessor, Your jury power is determined by the number of tokens that you have.

Claims

How it works
 
Earn rewards by becoming an InsureBNB Claims Assessor.

To earn rewards as a claims assessor you need to stake an amount of IBNB for 14 days minimum. Your verdict power and rewards are proportional to your stake and for the specified period, you can't sell these tokens or use them for other purposes. If the Advisory Board deems voting to be fraudulent, they have the power to burn this amount. 

You will have to stake IBNB to be our claims assessor, 70% of votes will determine the decision. If you end up being on the 30% minority, you will have to extend your staking time from 14 days to 21 days. IBNB will be airdropped to you if you made a correct decision along with your initial amount of IBNB staked.

Quorum -> 250,000 tokens

Reaching Quorum is need to make a community-based vote. If Quorum is not reached our team of claims specialists will be activated to approve or reject the claim.

IBNB Token

Purchase insurance built on the Defi - insurance protocol

All IBNB holders hold voting commissions proportional to the number of tokens in your wallet.

50000 IBNB tokens for earning on staking IBNB/BNB as Liquidity Providers,
Holders get 70 % commission from smart contract

3rd party insurances are encouraged to list their products as well.
POS: 1,000,000 IBNB
Liquidity: 500 ETH
Audit: Self + InsureBNB
Documentation: AI bot

Tokenomics

Name: InsureBNB(token)
Symbol: IBNB
Decimal: 8
Blockchain: BSC (BEP-20)
Nature: Utility Token
Utility: Access to Defi Insurance
   Jury Participation
   Liquidity Prividers
   Staking

Total: 3,000,000,000 IBNB

Team: 400,000,000 IBNB (frozen for 12 months)
Investors: 1,000,000,000 IBNB
Product Dev: 400,000,000 IBNB
Contingency: 400,000,000 IBNB
Marketing: 400,000,000 IBNB
Public: 400,000,000 IBNB

Name: InsureBNB(NFT)
Symbol: ABNB
Decimal: 0

Blockchain: BSC (BEP-721)
Nature: Utility Token
Utility: Claims Extraction

OUR ROAD MAP

Q3 2021

Idea, Litepaper, Web

Q4 2021

Pitching, Angel
Investors, Private
 Sale, VentureCap

Q1 2022

Develop IBNB token,
       Testing

Develop IBNB token, Testing

Q2 2022

Perfecting Smart
Contract, 
Whitepaper

Q3 2022

DEX selection, UD
integration
Voting Platform.

Q4 2022

IBNB Launch on 
    BSC launchpad



IBNB Launch on BSC launchpad

Q1 2023

Insurance Products.

Q2 2023

Stablecoin (USDT/C)



Q3 2023

Oracle selection/
       Creation


Oracle selection/ Creation

© Copyright 2021  - All Rights Reserved, insure BNB 
© Copyright 2021  - All Rights Reserved, Defi BNB Insurance
Contact | Privacy Policy | Terms & Conditions