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  • Covest InSaaS Protocol
    • InSaaS Architecture
      • Basic Signed Quote Model
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      • Policyholder
        • Policy Manager
          • issuePolicy
          • redeemPolicy
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        • Claim Manager
          • submitClaim
          • Others
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      • Governance Board
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  1. Covest InSaaS Protocol

InSaaS Architecture

PreviousCovest InSaaS ProtocolNextBasic Signed Quote Model

Last updated 1 year ago

The InSaaS protocol aims to provide innovative solutions for managing risks in the real world by building a reliable risk capture model, a controllable underwriting process, and an accurate claim procedure. To achieve this, the protocol has developed a number of models to enable these capabilities.

One such model is the "Basic Signed Quote Model", which is composed of both off-chain and on-chain components. The off-chain component of the model involves gathering and analyzing data about the risks being insured, such as information about the policyholder and the risks being insured. This information is used to generate a quote for the policy, which is then signed by the policyholder and sent to the on-chain component of the model.

The on-chain component of the model involves the use of smart contracts to manage the issuance and administration of the insurance policy. This includes the management of premiums, claims, and other policy-related activities. The on-chain component of the model is designed to ensure the transparency, security, and efficiency of the insurance process.

Basic Signed Quote Model

Basic Signed Quote Model