In case you missed out, here is a recap of the PolkaCover X Uno Re AMA.
AMA answered by Kunal Sadani, CEO, PolkaCover
- Can you please give us a brief intro about you and your co-founder? Also, tell us where this idea for PolkaCover came from!
Hey All! I am Kunal Sadani, CEO of PolkaCover. Super stoked to be a part of this AMA.
Congratulations team Uno Re, for your massive success!
So about me! … I have been based in the Middle East for over 15 years. My previous experiences are mostly around developing, building, and managing large-scale B2C insurance products & markets for the past 11 years. I have worked with multinational insurance companies such (AIG & Allianz), in senior leadership positions building products and partnerships in the Middle East and Africa Region. In my last role, I headed Retail Insurance for Policybazaar.
Anthony, the co-founder of PolkaCover, has been with Allianz Partners for over 4 years and was a part of the strategic development team where he worked on building third-party implementations, automation engines.We both got involved in crypto about 3 years back and there has been no looking back.
The idea behind PolkaCover was to make insurance accessible globally and provide a safety net to the crypto markets which were in desperate need of insurance covers and protection due to its volatility.
2. Can you give us an introduction to PolkaCover?
Sure! PolkaCover is The First Decentralized insurance marketplace for the DeFi & Crypto ecosystem. We will connect users & multi-national insurance providers with all global insurance products such as crypto-related protection, health, life, education & family insurance plans.
Polkacover’s mission is to bring to the crypto ecosystem as a whole, enhanced security, and unparalleled end-user ease of interaction.
3. How does the partnership with Uno Re support your platform and the services you have to offer? What are your expectations from this partnership?
This partnership will allow the user to have more trust in their investments within our platform. If PolkaCover utilizes all of its liquidity to cover claims that are needed, the Uno Re can step into the frame and take over the additional risks. This will provide an extra layer of protection to our users and this is our expectation.
This is the first reinsurance platform in the crypto sphere and we are really glad for our partnership. PolkaCover is the first insurance provider that would be on UnoRe’s platform as an innovator to create new and exclusive products. PolkaCover, as an innovator, would be staking UNO tokens on UnoRe’s platform and inherently, UnoRe would provide risk coverage to PolkaCover based on that principle.
4. PolkaCover has partnered with so many great projects apart from Uno Re! Can we expect to see traditional partnerships as well in the future?
Yes Indeed! I would love to share all these details now…..but it will have to wait…. Just to give you an idea, we have all our insurance partners lined up from both traditional and nontraditional backgrounds. We will soon be sharing them with you once our marketplace is launched. Tune in to our socials to know what exciting updates are on the way.
Here are the links!
Telegram Announcement: https://t.me/Polkacoverannouncement
5. You have been mentioning your marketplace all throughout and we are super excited to see it! Can you tell us a bit more details about it?
PolkaCover is working towards creating the world’s leading cryptocurrency-friendly insurance purchase & policy issuance marketplace with the aim to be the one-stop-shop for crypto & non-crypto insurance needs.
At PolkaCover, we will connect users & multi-national insurance providers with all global insurance products such as crypto-related protection, health, life, education & family insurance plan to start with and would be working towards adding more products in the longer run.
Our platform would be providing several tokenized incentives making up to 40% cheaper than any traditional insurance channel. We are developing a frictionless insurance marketplace experience that incorporates next-generation blockchain technology and tokenized incentives. We will be posting more updates soon as we are planning to launch by the end of July.
6. Since you said you will be offering multiple kinds of insurance covers in your marketplace, will there be a fiat-to-crypto and vice versa mechanism on your platform to accommodate all types of users?
Yes, Of course. In fact we have recently partnered with Collateral DeFi and also previously partnered with Transak and both are DeFi to Fiat payment gateways. We are speaking to more providers and hope we can integrate their services on our platform in the near future.
With these integrations we want our user account wallets on our portal to have the ability to do direct exchanges between CVR/USD \ CVR/ETH to start with.
We are definitely looking at adding more currencies but initially, we would have USD & ETH (and DOT once we migrate to Polkadot) for conversion.
- What makes you feel confident about the survival of your project in the near future? Do you take into account community feedback and demands while developing features of your project?
PolkaCover is a very user-centric project and it is made to fulfil all your needs in the traditional and the non-traditional insurance fields. Your opinion and feedback matter to us the most, especially in the whole development process so we do take the suggestions that you all send us on Telegram or any of our socials. Feel free to reach out to the team at any time if you have any queries or want any clarifications.
2. There have been a lot of discussions about Binance Smart Chain and PolkaCover. How and When is it happening?
PolkaCover will soon be available on Binance Smart Chain. We cannot give a definite date but it will be happening soon. To know more about our plans with Binance, read the article: https://polkacover.medium.com/polkacover-on-binance-smart-chain-b2f9a1a5b917
3. Will PolkaCover be listed on any CEX platforms anytime soon?
We are going on a tier-one exchange. Details will be revealed soon!
PolkaCover is the First DeFi insurance marketplace for the global crypto ecosystem. Our aim is to lower transactional and administrative costs of insurance policies and coverage while providing high-value, cost-effective insurance products for the crypto world.
Our platform will be connecting users with multinational insurance providers for all global insurance products such as crypto-related protection, health, life and travel policies. The platform will include a frictionless insurance marketplace experience that incorporates next-generation blockchain technology and tokenized incentives.