Marketplace Overview

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Marketplace Overview

As part of our decentralized and tokenized marketplace, we aim to facilitate the buying, selling, and origination of flood insurance specifically for the Southern United States & Puerto Rico. This platform is designed to increase accessibility, improve risk assessment, and enhance the liquidity of the flood insurance market.

Acceptance Criteria

• Users can list flood insurance policies for sale.
• Users can browse available flood insurance policies.
• Users can purchase flood insurance policies using cryptocurrency tokens.
• Users can originate new flood insurance policies with smart contract capabilities.
• All transactions are logged and immutable on the blockchain.
• The platform supports integration with external data sources for risk assessment (e.g., NOAA data).
• Users receive notifications for policy expiration and renewal.
• The platform complies with all relevant insurance and blockchain regulations.

sequenceDiagram
  participant U as User
  participant M as Marketplace
  participant BC as Blockchain
  U->>M: Browse insurance policies
  M->>U: Display insurance policies
  U->>M: Select a policy to buy
  M->>BC: Initiate smart contract
  BC-->>U: Confirm transaction

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