> For the complete documentation index, see [llms.txt](https://www-covercompared.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www-covercompared.gitbook.io/docs/01.-what-is-polkacover/about-us/untitled.md).

# What is CoverCompared?

CoverCompared is a DeFi insurance marketplace for the global crypto ecosystem. We are a one-stop-shop for both personal and cryptocurrency insurance needs, backed by traditional & decentralised insurance providers.

CoverCompared will connect users and multinational insurance providers with global insurance products such as crypto-related protection, health, life, education, and family insurance plans.

![](/files/uaHtv1W2zEovEipiOZQR)

## **What is CoverCompared's vision?**

*“Our vision is to align insurance purchase with the core principles of decentralised technology to provide global access to everyone while offering a censorship-resistant platform and build open-source technology governed by software and controlled by its users.”*

The platform will include a frictionless insurance marketplace experience that incorporates next generation blockchain technology and tokenized incentives, more details of this can be found in the section titled Token Mechanics.

{% content-ref url="/pages/-MRPAjgScIhvDi1i4DUA" %}
[CVR Tokenomics](/docs/03.-polkacover-tokenomics/what-are-the-usdcvr-tokenomics.md)
{% endcontent-ref %}

## What are the key features and benefits for customers?

Our products are targeted to the early & retail crypto user base in order to protect primarily against exchange hacks, exchange bankruptcy and phishing attacks, to name a few.

![](/files/-MRZnuINLGMSzyV6EBoc)

CoverCompared connects users to our platform[ covercompared.com](http://covercompared.com/), which is then connected to different blockchains (based on the requirement) using bridges on the Ethereum network for cross blockchain transactions. Once the user requests for an insurance quote, the data is fed into a smart contract which is connected to the insurance companies using oracles/third party API’s on the Ethereum network. The information from the insurance company and the user data allows the smart contract to validate and issue the policies.

The CoverCompared value proposition is bolstered by $CVR. As the native cryptocurrency of the platform, $CVR can be used for payments, receiving and redeeming loyalty rewards and discounts among several other use cases which you can find in the token ecosystem section of the whitepaper.

![](/files/jocYPbets1CNdKbKPTXi)

## Communication Channels

![](/files/-MRamNOjddzhEzANRRT0)

The CoverCompared platform will be the built to cater to 3 main channels of communications:

* Web Portal
* Mobile App
* Social Media Integrations

Once the platform with in the initial phase has been completed, we would work towards deploying the features based on priority. The features are selected based on the following factors:

* Size of the consumer market
* Product development & approvals
* Competitive landscape
* Token adoption opportunities
* Regulatory requirements and oversight

Participants on the platform are:

1. Insurance Policy Purchasers
2. Exchanges houses (Group Policy Purchaser)
3. Insurance Companies
4. Claims Administrators


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://www-covercompared.gitbook.io/docs/01.-what-is-polkacover/about-us/untitled.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.