Etherisc Insures Against Flight Delays Via Crypto Rails

The protocol automates insurance payouts when flights are delayed or canceled based on on-chain data, aiming to give more real-world use cases for blockchain technology

article-image

Source: Alexandr Podvalny

share

key takeaways

  • The platform currently only accepts payments in crypto, but plans to accept traditional bank cards in the future
  • Etherisc integrates Chainlink oracles in its product so users can see if the correct flight information was used when determining the claims process

The firm behind a blockchain protocol custom-built for the insurance industry is launching a new on-chain product for flight delays and cancellations. 

Etherisc’s FlightDelay product will go live on Thursday, which will make filing an insurance claim faster and more transparent, according to co-founder Christoph Mussenbrock. 

The application will issue policies and give almost instant payouts for travelers who experience flight cancellations or delays of over 45 minutes. The project aims to take out the paperwork and lengthy process of manually filing an insurance claim.

“While there are other travel insurance products available, they typically require a delay of several hours to a planned flight before any compensation is deemed applicable. In addition, policyholders need to manually file a claim and this process is cumbersome, time-consuming and lacks transparency,” Mussenbrock told Blockworks.

“In contrast, Etherisc’s blockchain-backed insurance product offers real-time, fully automated payouts starting at just 45 minutes delay. We are the only providers currently offering such a solution.”

Additionally, Etherisc integrated Chainlink oracles in FlightDelay, so users can access on-chain data to see if the correct flight information was used when determining the claims process.

“[This product] has a real opportunity to disrupt manual claims processing by reducing employee labor, server, software management, and other overhead costs via blockchain-based automation,” William Herkelrath, managing director at Chainlink Labs, said in a statement. 

FlightDelay’s insurance risk pool will be generated by members of the Etherisc community that actively stake its native DIP token, according to a press release. 

FlightDelay is available with over 80 airlines. The platform currently only accepts payments in crypto for its services, specifically through blockchain payments platform Gnosis Chain, but plans to accept traditional bank cards in the future.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (1).jpg

Research

With $13B in tokenized assets, strong institutional partnerships, and a clear first-mover advantage in the RWA space. The platform's methodical approach to regulatory compliance, coupled with its hybrid public-private architecture, positions it uniquely to capture significant market share in the emerging tokenization landscape. While current fee generation primarily stems from metadata transactions, the planned launch of Figure Markets, major exchange listings, and comprehensive market-making initiatives in 2025 could serve as powerful catalysts for growth.

article-image

Perena is built on the premise that as stablecoins proliferate, liquidity could fragment, and stablecoins aren’t useful if they aren’t liquid

article-image

From hackathons to trading tools and DAO governance, AI agents are redefining how we build and innovate

article-image

CME’s large bitcoin contracts are so big that investors are turning to micro bitcoin contracts

article-image

The third-largest stablecoin is going multichain for the first time in its seven-year history

article-image

Nano Labs’ news release notes confidence in bitcoin being “a reliable store of value amidst its rising global adoption”

article-image

Several big companies report third quarter earnings this week, likely moving markets