Etherisc

Finance

Insurance

Ethereum

Africa

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Etherisc is an infrastructure provider for building insurance products. Mercy Corps Ventures (”MCV”) partnered with Etherisc and a number of organizations - ACRE Africa, Mercy Corps AgriFin, Ethereum Foundation, and Chainlink Foundation - to test automation using smart contracts for insurance payouts involving 12,500 smallholder farmers in Kenya. The results showed that 40% of the claims were processed within 24 hours (versus the 14 days through the traditional system) and insurance coverage increased by 27%.