Signal
Event-Triggered Payouts
Parametric InsuranceAuto-payout triggered by verifiable events. Claims paid in minutes instead of weeks, with no adjuster required for parametric triggers.
Coinbax Controls Used
This concept leverages the following programmable controls to create a secure, compliant payment flow.
Escrow Hold
Time-Based LocksClaim payout amount escrowed
Oracle Integration
Conditional ReleaseExternal data feed (weather, flight, seismic)
Conditional Release
Conditional ReleaseAuto-trigger on threshold
KYC Verification
Compliance GatesConfirm policyholder identity
Use Case Example
Scenario
Hurricane Insurance for Coastal Businesses
- 01
The Challenge
After a hurricane, traditional insurance claims take months to process while businesses struggle to recover. Adjusters are overwhelmed and disputes are common.
- 02
The Solution
Parametric policy pays out automatically when wind speed exceeds 100 mph at the insured location, based on National Weather Service data.
- 03
The Result
Payout received within 24 hours of storm passing, no claims paperwork required
Ideal for
When the event should trigger the payout, not a claim form
Insurtech Startups
Build innovative parametric products with instant, automated payouts.
Reinsurance
Streamline catastrophe bond payouts with objective trigger verification.
Travel Insurance
Automatic payouts for flight delays, cancellations, and weather events.
Agricultural Insurance
Trigger payouts based on rainfall, temperature, or yield index data.