Aigang Aigang

Aigang

Created using Figma
Created using Figma
Aigang Platform working on Ethereum Testnet environement, with operation of the DAO insurance platform, including contributions to insurance pools and claiming rewards from writing insurance. The web UI is operational and is integrated with the Ethereum wallet Metamask.
Nov 15, 2017
Dec 15, 2017
100% completed
$3 936 272
18% hard cap completed
Hard cap 45 000 ETH
past
  • 2000 AIX
    =
    1 ETH

About Aigang

We are rushing into an era of pervasive connectedness. 55 billion Internet of Things (IoT) devices will be bought over the next eight years. Most of them will be able to diagnose their own operating state and communicate imminent failure. Because none of this requires human verification, there is an opportunity for automated insurance products - insurance that verifies claim events and pays claims automatically.

There is a second opportunity. Most IoT devices collect data. Drones, sensors and cameras can send data that can be used as an input to insurance calculations. This will see an explosion in the number and diversity of insurance products.

With smart contracts and a tokenised system that assesses risk, we‘re building a platform for autonomous insurance, usable by any manufacturer or insurer. Here is the pathway to that:

  • Harness the wisdom of the crowd
  • Form prediction markets whose members (token holders) are subject specialists and insurance enthusiasts
  • Combine prediction markets with insurance pools
  • Use prediction markets to assess insurance risk
  • Construct algorithms that price the policy premiums and predict profitability
  • Develop a token model that incentivises and rewards members for accurate insurance market predictions
  • Create a network effect so that all token holders benefit from the efficiencies of the system, regardless of their individual forecasting success
  • Automate through smart contracts
  • Create a Decentralised Autonomous Organisation (DAO) that uses smart contracts to connect intelligent devices with insurance policies
  • Connect to devices that communicate their need for maintenance or replacement
    Automate insurance payouts
  • Use re-insurance to handle exceptions
  • Automatically sell tokens or issue dividends to keep reserves within target range
  • Partner with data providers
  • Seek out manufacturers who already collect data on their devices’ operating states
  • Collect data from drones and sensors that would help inform insurance risks
  • Use device data as intelligence in valuing and creating policies
  • Subject to the regulatory environment, encourage third parties to create insurance offerings using the platform
  • Cooperate with manufacturers wanting to pre-install insurance policies

The global IoT insurance market is expected to be worth USD 42.7 Billion by 2022 and we are positioning ourselves as a significant innovator in that space.

We have demonstrated a proof of concept with working apps, integrated feeds from data suppliers, all required algorithms and business logic. We now require funds to build a fully operational platform, develop partnerships with data suppliers, extend our organisational infrastructure and promote the platform on an appropriate scale.

Features

Insurance pools. PMs will deal aspects of the insurance pool:
1. Capital PM (Predicts how much capital will be raised to support the pool)
2. Premium PM (Predicts the size of the premium the pool will amass)
3. Profitability PM (Predicts the loss ratio or some other profitability measure of the pool)

Market operation.
1. Diversity (The participants have different information on which they base their prediction)
2. Independence (The participants make their predictions independently of other participants’ opinions)
3. Decentralisation (The market is decentralised rather than expert-opinion led)

Algorithms.
1. Member score (Determines member rank and weight in overall market prediction. It’s a measure of prediction success)
2. Reward function (Determines the reward granted for successful predictions)
3. Value function (Determines the value of the whole prediction market)

Technical Info

Technical details:  Ethereum ERC20 standard token. The source code:  The code is not available. Proof of developer:  Public Team.

Roadmap

  • MVP development v1.0

  • Ethereum blockchain smart contracts are written to control policy issuance, risk assessment and claim processing. A user interface exists for the insuree to manage all insured devices. Smart device-tracking software use cases are developed for issuing claims automatically.
  • MVP development v2.0

  • Ethereum blockchain smart contracts are updated to deliver prediction market functionality. The user interface allows investors to operate the prediction market, access data, manage their portfolio of investments. Back-end infrastructure is created for off-chain data collection and calculation. Early stage discussions with IoT device manufacturers and data suppliers.
  • Beta version

  • Public release includes the prediction market platform and several developed insurance products. We have an open beta version of the platform for investors and people to participate in. Reinsurance is integrated, expanding the number of fully autonomous insurance products. A community of smart insurance enthusiasts is starting to assemble. Strategic agreements are signed with IoT device manufacturers and data suppliers. Widespread publicity is generated around early stage products and the Aigang platform’s use of permission markets.
  • Release v1.0

  • Stable and functioning prediction markets software. The development platform and API are being used by module developers to develop new and improved insurance products. Evidence is emerging of the performance benefits that diverse, well-structured performance markets provide. Data from IoT devices is integrated and used in insurance policy applications created by Aigang. The first pre-installed insurance contracts go live in partners’ IoT devices.
  • Read More
  • Release v2.0

  • Incorporates machine learning, a real-time pricing algorithm, the analytical platform and tokenised insurance risk pools.
  • Release v3.0

  • Includes a complete insurance investment OTC trading platform. The product development SDK is complete and in widespread use.
  • Release v4.0

  • We’ve created a fully autonomous insurance DAO - a platform for innovation and efficiency. Customers are accessing new and improved insurance products. Some of these have been created by third-party developers, others by Aigang. Customers are using our permission markets to hedge exposure and engineer business results. Experts and insurance specialists are earning rewards through PMs. Actuarial results improve. Insurers are using Aigang to broaden the scope of coverage, increasing the size of the insurance market. Investors are funding new policies, the industry is more dynamic and the platform is flourishing.

Materials

Aigang

Activity

Status:
Sr. Member
HIGH
Activity:
476
VERY HIGH
Merit:
250
HIGH
Posts:
266
MEDIUM
Views:
18 367
VERY HIGH
Status:
LegendaryCopper Member
VERY HIGH
Activity:
1 442
VERY HIGH
Merit:
1 060
VERY HIGH
Posts:
277
MEDIUM
Views:
7 342
HIGH
Users:
165
MEDIUM
Followers:
7 666
HIGH
Tweets:
1 578
VERY HIGH
Members:
2 228
MEDIUM
Alexa
Rank:
1 235 425
VERY LOW
Delta:
604 514
Year commits:
246
Watchers:
53
Stars:
41
Forks:
17
Open issues:
14
Videos:
2
VERY LOW
Subscribers:
159
VERY LOW
Views:
13 230
MEDIUM
Likes:
101
VERY LOW
Dislikes:
1
VERY HIGH

Team

Verified 11%

Attention. There is a risk that unverified members are not actually members of the team

Insurance product & policy
unverified
Smart contract developer
verified
Insurance Product & Policy Manager
unverified
Lead Engineer & Smart contracts developer
unverified
Full-stack developer
unverified

Advisors

Verified 0%

Attention. There is a risk that unverified members are not actually members of the team

Blockchain Advisor
unverified

Last News

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