In today's digital finance world, cryptocurrency and blockchain users are exposed to significant financial risks with no reliable safety net. SecurePool provides a simple, transparent insurance solution that protects people's digital investments from hacks, theft, and unexpected losses. We help users feel more secure by offering straightforward insurance coverage that's easy to understand and quick to use, ensuring that investors can focus on their financial goals without constant worry about potential threats to their assets.

Insurance Buyer Flow:

Connect to SecurePool via our web/mobile interface using privacy-preserving ZK SSO
Browse microinsurance products (flight delay, weather, event cancellation)
Select coverage amount and duration
Complete purchase with crypto or credit card payment
Receive verifiable credential as proof of coverage (Humanity Protocol)
Get automatic payouts when covered events occur (verified by oracle data)

Capital Provider Flow:

Deposit capital into insurance pools based on risk appetite
Choose from three risk tranches (senior: 8-12% APY, mezzanine: 15-20% APY, junior: 25-35% APY)
View real-time metrics on pool performance, risk exposure, and yield projections
Withdraw capital after lockup period (varies by tranche)

SecurePool is a decentralized insurance platform built on the Flow blockchain & Humanity protocol for verification Credentials, designed to provide comprehensive protection against crypto-related risks. The architecture consists of two primary smart contracts:

InsurancePool Contract

Manages liquidity staking mechanisms
Handles:

• Stake management
  -APY (Annual Percentage Yield) calculations
  -Lockup periods
  -Rewards distribution

InsurancePolicy Contract

Manages insurance policy lifecycle
Handles:

• Policy creation and management
• Claims processing
• Coverage tracking
• Premium calculations

Flow Blockchain Integration

• Manages wallet connections
• Handles authentication
• Executes blockchain transactions
• Provides secure wallet interaction

Humanity Protocol Integration

Identity Verification Service

• Verifies user identities
• Provides KYC and Proof of Humanity checks
• Ensures platform security and compliance
• Validates user credentials before policy creation

• First truly decentralized micro-insurance platform
• Community-governed risk pools
• Instant, transparent claim settlements
• Low-cost, accessible insurance products
• Yield generation for capital providers
• AI-driven risk assessment

During the hackathon, we strategically simplified our approach to create a proof of concept. Our initial implementation features a basic risk assessment model, a limited range of micro-insurance products, and a streamlined governance mechanism.