About Etherisc & Our Track Record
Today’s insurance market is exc
lusive, expensive, and inefficient. For families that are financially vulnerable, a delayed claims payout can be devastating. To combat this problem, Etherisc has built an open-source technology platform to enable better products - faster, cheaper and more transparent - for a fairer and more accessible era of insurance.  Watch our 3-minute explainer at the 2022 WFP Innovation Accelerator here.


In 2019, we launched our first pilot with a few hundred farmers in Sri Lanka in partnership with AON, Oxfam in Sri Lanka and Sanasa Insurance, working via farmer cooperatives and connecting with weather stations. 
https://aon.mediaroom.com/2019-07-01-Aon-Oxfam-and-Etherisc-launch-first-blockchain-based-agricultural-insurance-policies-for-smallholder-farmers-in-Sri-Lanka

In 2021, we demonstrated scalability by onboarding 25,000+ Kenyan farmers in partnership with Acre Africa, in a model where insurance was bundled with agricultural input. In the first season, 6,000 farmers out of 17,000 received a mid-season payout. Acre Africa reported that claims payout times were reduced from above 45 days to under one week (40% of payouts within 24 hours). 
https://blog.etherisc.com/etherisc-update-etherisc-and-acre-africa-announce-first-payouts-through-blockchain-based-platform-a0c5194214f4
https://medium.com/mercy-corps-social-venture-fund/pilot-insights-driving-climate-resilience-for-smallholder-farmers-in-kenya-through-smart-1084d9e24cb5 

Under our ongoing pilot with the Lemonade Crypto Climate Coalition in Kenya, we deployed a fully stablecoin-based risk pool, on-boarded over 7,000 farmers and have recently completed the first payout cycle. For 2023 another 60.000 farmers are expected. Etherisc had been invited to join this coalition of industry leaders from the blockchain, insurance and DeFi space in 2022: Lemonade Foundation, Etherisc, Hannover Re, Pula Advisors, Tomorrow.io, and TomorrowNow.org, Avalanche, Chainlink, and DAOstack.
https://www.lemonade.com/blog/crypto-climate-coalition/
https://www.reinsurancene.ws/lemonade-crypto-climate-coalition-protects-nearly-7000-kenyan-farmers/ 

We were accepted into the WFP Innovation Accelerator in November 2022 and are now working on a project with WFP Burkina Faso, Yelen Assurance and Africa Risk Capacity to automate weather index microinsurance to accomplish faster payouts for WFP beneficiaries. 
https://wfpinnovation.medium.com/seven-innovations-pave-the-way-to-zero-hunger-in-a-time-of-climate-crisis-b0a91f0ccfb4