Overview

In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.

Entities

• Policy - Insurance contract between Dynamis and Policyholder;
• Premium - Monthly payment by Policyholder to Dynamis;
• Coverage - The amount of payout if the circumstances happen;
• Claim - The request to the Dynamis asking for a payment based on the terms of the Policy. The Dynamis reviews the claim for its validity and then pays out to the PolicyHolder once approved.

Roles

• Dynamis: the distributed autonomous organization (DAO), the "insurer";
• PolicyHolder: the "insured";
• RiskAssessor: who estimates the risk by providing score that ranges from 0% (impossible) to 100% (guaranteed to happen);
• User: any user of Dynamis;
• Admin: User with special privileges.

PolicyHolder

TODO

User

• Can become RiskAssessor if Admin grant 'risk assessor' role;
• Can verify identity/employment (for free);
• Limited in the amount (?what is the limit?) he can bet on a policy thus the amount of tokens he can gain.

RiskAssessor

• Can only buy immature tokens;
• Can place bets on a policy;
• Can get a reward - mature tokens.

Admin(s)

• Can grant 'risk assessor' role to any User;
• Can risk assess any policy he wants;
• Can verify identity/employment (for free);
• Can bet any amount of immature tokens.
• Can move policy from 'P2P Verified' to 'Ready for Risk Assessment' state. See Risk Assessment diagram here.