Decentralised Insurance Coverage


Etherisc, a blockchain insurance platform, has joined forces with Mittweida CSI (Community Supported Insurance) to develop a groundbreaking parametric train delay insurance solution. This revolutionary offering brings transparency and efficiency to policyholders, ensuring smooth and hassle-free journeys for travellers and commuters in Germany.

Etherisc‘s platform, known as the GIF, is the first of its kind, allowing users to easily create end-to-end parametric products using blockchain technology. With its establishment in 2016, Etherisc boasts an experienced and technical team that remains at the forefront of decentralised insurance and the innovative application of smart contracts in real-life scenarios. The GIF comprises modular, fully flexible, and customizable pillars, all supported by smart contracts. Mittweida CSI chose to build their solution on the Etherisc platform due to its stellar reputation, robust infrastructure, and cutting-edge technology. Leveraging the platform’s flexible product modules, the team swiftly developed the train delay solution. Policyholders can conveniently purchase insurance coverage through a user-friendly interface, with their policy details, premium payments, and claims information securely recorded on the Polygon blockchain. In the event of a train delay, the smart contract automatically verifies the claim criteria, and policyholders receive immediate compensation through the blockchain-based payment system. The product is built on the Polygon blockchain, enabling users to benefit from fast transactions and low transaction fees. Moreover, consumers can purchase policies using their IBAN to pay in EUROs, expanding the customer base beyond crypto-native users.


The use of Etherisc‘s platform to enable the purchase of travel insurance is not new. FlightDelay, which was launched in 2022, is now accessible for global passenger flights operated by the top 80 airlines in the world, and policies can be obtained through Etherisc‘s dedicated FlightDelay Portal. The insurance risk pool is entirely generated by members of the Etherisc community who actively commit their assets to the decentralised insurance protocol (DIP) token. FlightDelay utilises blockchain technology to provide secure, non-tamperable encryption, and policies can be easily and accurately retrieved once encrypted.

Benefits & Outcomes
  • Instant insurance payout in case of delays
  • Purchase of policies in EUR
  • Low premiums with above-average payouts
Further Info

Christoph Mussenbrock, Co-Founder at Etherisc: “Contacting a traditional provider and applying for an insurance claim is a time-consuming and tedious process, which compounds the frustration of experiencing a flight delay. Blockchain has tremendous potential to simplify many aspects of modern life for the better; through the power of automated smart contracts and decentralised oracles, this arduous process is now made simple and hassle-free. People can easily sign up for a policy to secure their flight online, turn up at the airport, and receive a fair payment directly to their preferred wallet should their flight be delayed for longer than 45 minutes.”


Live. Delay protection can be bought here.
Research by Andrej in November 2023.

© Antony Welfare 2024