Other · Underwriting · INSUR
InsurAce offers portfolio-level cover across many EVM chains. Policyholders pay premiums into a pooled capital model; INSUR governs parameters and participates in the protocol's risk-sharing design.
Multi-chain portfolio insurance with a capital pool backstop.
Protocol TVL
$134.4K
Latest data · 15 min delay
Broad multi-chain underwriting footprint with packaged portfolio cover rather than single-protocol mutual membership.
The underwriting side of the protocol. Capital providers stake assets into underwriting/mining pools that act as liquidity reserves backing cover payouts. Coverage capacity is governed by a Solvency Capital Requirement (SCR) ratio; when pooled capital is insufficient to meet the SCR, INSUR mining rewards for the Cover Arm increase to attract more capital.
An investment module that deploys idle capital-pool funds into yield-bearing DeFi strategies. Investment yield is fed back to insurers and insurees as an incentive, which is how InsurAce subsidizes its 'ultra-low' premiums relative to pure mutual models.
Actuary-priced cover products across smart-contract/protocol risk, stablecoin de-peg risk, and custodian (CEX) risk. InsurAce was the first to offer cross-chain, portfolio-based covers, letting users insure multiple assets/protocols across chains in a single cover to save on premium and gas.
Claims are filed on-chain and adjudicated by a community of Claims Assessors who hold and stake INSUR, combined with an advisory board / expert review. Approved claims are paid from the capital pools; this process handled the May 2022 UST de-peg claims.
Standard ERC-20 governance and incentive token (deployed on Ethereum, with bridged versions e.g. on Polygon). Used for community governance and claim-assessment voting, mining incentives for capital provision, and ecosystem rewards.
Oliver Xie
Crowdfund Insider - interview with founder Oliver XieSingapore
Boxmining - InsurAce Protocol overviewDeFi insurance / cover (underwriting) - multi-chain
DeFiLlama - InsurAce protocol pageINSUR (ERC-20, Ethereum contract 0x544c42fBB96B39B21DF61cf322b5EDC285EE7429)
Etherscan - INSUR token tracker~$11.73M paid across 155 approved claims (18 rejected) vs ~$94k premiums collected
Benzinga - InsurAce $12M UST payout announcementEffectively wound down / dormant: insurace.io parked for sale, INSUR delisted by HTX (Feb 2025), OpenCover paused tracking (May 2025), GitHub largely inactive after 2023-2024
OpenCover - InsurAce (data collection paused May 30, 2025)How InsurAce maps onto established TradFi structures, and where it diverges.
Specialty / parametric insurance underwriter (e.g. a Lloyd's-style syndicate)
InsurAce
Pools capital from providers to underwrite defined risks (contract failure, de-peg, custodial loss), charges risk-priced premiums, and pays out on validated claims.
TradFi analogue
Underwriting capital comes from permissionless DeFi liquidity providers rather than licensed insurers/reinsurers; policies are on-chain 'covers' rather than legal insurance contracts; claims are adjudicated by token-holder voting instead of licensed adjusters/regulators; and there is no regulator-backed policyholder protection or capital-adequacy mandate.
Mutual insurance company
InsurAce
Risk is shared among members via a mutual/pooled model rather than sold to external shareholders, and members participate in governance and claim decisions.
TradFi analogue
InsurAce layers an investment arm that deploys pool capital into DeFi yield to subsidize premiums, uses a governance token (INSUR) for voting and incentives, and offers cross-chain portfolio covers — none of which exist in a traditional mutual, which is regulated and holds statutory reserves.
Oliver Xie
Founder & CEO Created InsurAce in 2020; the protocol is headquartered in Singapore. Public-facing founder who has represented InsurAce in interviews on DeFi insurance and smart-contract risk.
Dan Thomson
Chief Marketing Officer (CMO) Public spokesperson; provided the official statements on InsurAce's rapid UST de-peg claims response in 2022.
INSUR Governance / Claims Assessors
DAO governance and claims adjudication InsurAce operates as a DAO governed by INSUR holders. A community of Claims Assessors who stake INSUR votes on the validity of claims (as used for the 155 UST de-peg claims), supported by an advisory board / expert review.
Strategic
2021-02-01$3M
Key milestones: launches, upgrades, exploits and governance events.
InsurAce founded and seed round closed
ExecutedInsurAce was created by Oliver Xie during the 2020 DeFi boom (Singapore-based) and raised ~$1M in seed funding from DeFiance Capital, Signum Capital, ParaFi Capital, Hashed and others shortly after inception.
Source$3M strategic round led by Alameda Research & HashKey Capital
ExecutedInsurAce raised $3M in a token round led by Alameda Research and HashKey Capital, with existing seed investors (DeFiance, ParaFi, Hashed, Signum) plus IOSG Ventures, imToken Ventures, LongHash Ventures and others participating.
SourceMainnet launch on Ethereum
ExecutedInsurAce launched its live cover product on Ethereum mainnet following its SlowMist audit, later expanding into a cross-chain product line covering 100+ protocols and multiple CEXs across ~20 chains.
SourceUST de-peg claims process opened
ExecutedWithin ~48 hours of the UST de-peg, InsurAce shortened the claims window for UST/Anchor/Mirror cover holders (deadline May 20, 2022) to set the loss-claim process in motion.
SourceInsurAce is a decentralized, multi-chain DeFi insurance (cover) protocol launched on Ethereum mainnet in April 2021. It lets users buy cover against smart-contract exploits, stablecoin de-pegs, and custodian (CEX) failures, and lets capital providers underwrite that risk in exchange for INSUR rewards. Its distinguishing feature was cross-chain, portfolio-based covers and a two-arm design where an investment arm generates yield to subsidize low premiums.
Yes. After UST de-pegged in May 2022, InsurAce ran a fast-tracked claims process and its community Claims Assessors approved 155 UST de-peg claims (rejecting 18), paying out roughly $11.7 million against only about $94,000 in premiums collected on those covers. It remains one of the largest real payouts by a DeFi cover protocol.
InsurAce appears to be effectively wound down or dormant as of 2026. The primary insurace.io domain now resolves to a domain-for-sale parking page, the public GitHub org shows almost no activity after 2023-2024, HTX delisted the INSUR token in February 2025 for insufficient volume, and third-party tracker OpenCover paused data collection on InsurAce in May 2025. Treat the protocol as inactive; independently verify before relying on any cover.
It uses an actuary-based pricing model plus a two-arm structure: idle capital in the cover pools is deployed by an investment arm into yield strategies, and that yield is returned to insurers/insurees. It also pioneered portfolio-based covers, bundling multiple protocols/assets into one cover to cut per-item premium and gas costs.
InsurAce was audited by SlowMist (early 2021, ahead of its April 2021 mainnet launch) and by PeckShield (concluded July 12, 2021, rated 'Low Risk'). SlowMist's review flagged higher-severity issues, including a reordering-attack risk and a missing permission check on an owner-adding function, which the team reported fixing before launch.
