InSaaS Components

The InSaaS protocol consists of several components that operate as the core insurance system. These components include:

• Governance: The governance component is responsible for setting the rules and policies of the InSaaS protocol, including the collateralization ratio and the selection of validators.

Governance

• Risk Assessment: The risk assessment component is responsible for evaluating the risks associated with each policy and determining the appropriate premiums and solvency capital requirements.

Risk Assessment

• Claim Assessment: The claim assessment component is responsible for reviewing and processing claims made by policyholders. This includes verifying the validity of the claim and determining the appropriate payout amount.

Claim Assessment

• Validator Selection: The validator selection component is responsible for selecting validators to participate in the claim assessment process. Claim validators are responsible for verifying the validity of claims and ensuring the integrity of the claim assessment process.

Validator Selection

• Risk Carrier: The risk carrier component is responsible for undertaking the risks transferred to the InSaaS protocol and maintaining the solvency capital needed to pay claims. The risk carrier can be anyone who is interested in taking on risk, including individuals or enterprises.

Risk Carrier

In summary, the InSaaS protocol is a decentralized insurance protocol that enables policyholders to transfer risk to a third party and receive protection in the event of losses. It relies on a network of claim validators to ensure the integrity of the claim assessment process and a risk carrier to undertake the transferred risks and pay claims.