ASIA NEWS: PolkaCover Insurance Aggregator Rebrands to CoverCompared

dWeb.News Article from Daniel Webster dWeb.News

dWeb.News Article from Daniel Webster dWeb.News

ASIA NEWS:

Tallinn, Estonia, Oct 13, 2021 – (ACN Newswire) – PolkaCover, an insurance aggregator that is currently building itself on the Ethereum ecosystem, has officially announced that it will rebrand to Cover Compared. While the existing partnership ecosystem and token utilities would remain largely the same, CoverCompared welcomes a new era of innovation within the insurance sector.

In their latest Medium article, CoverCompared deconstructed the reasons behind the rebranding. Initially developed with a view of operating on the PolkaDot blockchain, delays in development of the chain as well as a lack of a definitive launch timeline led to the brand expanding the business to offering insurance protocols on the ethereum blockchain instead. The aggregator plans to go beyond being a single-chain insurance aggregator. It will also venture into operations on multiple blockchains to create one of the most important multichain insurance marketplaces in world.

In a world where cryptocurrency users have doubled from 100 million to nearly 200 million in just Q1 2021 alone, there has also been a spike in various hacks and frauds (for instance, 32 incidents of hacks and fraud for a total value of $2. 99 billion have taken place so far in 2021. That is on course to break the 38 cases tallied in 2020, with that figure representing a 40.7% climb from 2019, according to CryptoHead. CoverCompared aims to offer a global gateway for users to gain access to crypto & traditional insurance products to better secure them against such malpractices and more.

Polkacover represented a single-chain network that provided insurance products that could be purchased with either crypto or fiat currency. However, the revamped CoverCompared is a more inclusive, multi-chain insurance aggregator that offers not just crypto-specific covers, but is also the first ever global insurance marketplace that builds a bridge between the traditional and crypto world. On CoverCompared, users can purchase insurance policies for not just Smart Contract Covers, CEX Covers, Wallet Hacks, etc. You can also purchase insurance policies for Life, Health, Travel, and Electronics with crypto currencies.

Follow their social media to get regular updates about the exciting weeks ahead of their soon launched dApp!

About CoverCompared

CoverCompared is the first DeFi insurance marketplace for the global crypto ecosystem. CoverCompared aims to lower transactional and administrative costs of insurance policies and coverage while providing high-value, cost-effective insurance products bought using a host of cryptocurrencies.

The platform connects users with multi-national insurance providers for all global products, including crypto-related protection, life and travel insurance policies. CoverCompared will offer a frictionless experience in the insurance marketplace that uses next-generation blockchain technology as well as tokenized incentives

Social Links

Twitter: https://twitter.com/CoverCompared

Medium: https://covercompared.medium.com

Telegram: https://t.me/CoverCompared

GitHub: https://github.com/CoverCompared

Media Contact

Company: CoverCompared (previously PolkaCover)

Contact: Kunal Sadani

E-mail: kunal@polkacover.com

Website: https://covercompared.com

SOURCE: CoverCompared


Topic: Press release summary

Source: CoverCompared

http://www.acnnewswire.com

From the Asia Corporate News Network

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