The future of insurance for the unbanked and cryptoassets

[Short general description]: PolicyPal is an insurance app employing the use of machine learning and artificial intelligence to simplify and digitise insurance for end users to seamlessly manage their existing policies. PolicyPal endeavours to harness the exponential growth of blockchain and create a decentralised platform to not only purchase insurance policies but to also serve as a secure validation engine for policy payouts.


[Main problems tackled]: PolicyPal Network is a platform built with a two-fold vision of addressing key issues that overlap the fields of both insurance and cryptocurrencies in the world today.


PolicyPal Network’s aim is to lower the barriers associated with traditional insurance coverage for millions of unbanked people that are without adequate access to insurance protection in developing countries around the world. PolicyPal Network plans to achieve this by leveraging partnerships.


Secondly, PolicyPal will try to tackle the overall security of cryptoassets.  For this they will offer a range of robust protection plans for both commercial companies and individual investors against a loss of funds resulting from operational deficiencies like hacks. 


[Main contribution proposal]: An offer of comprehensive protection plans that will completely alter the perception of risk in the cryptocurrency space when securing your cryptoassets. 



[Innovation]: Through the use of Optical Character Recognition (“OCR”), taxonomy and rule based algorithms, PolicyPal attacks the problem by digitising all the policies and automating the analytical process. 


It takes only 30 seconds for PolicyPal to digitise a single policy and the algorithms determine coverage gaps to provide a personalised recommendation on optimal changes. 


New use-case: the secure, time-stamped storage of a policy holder’s relevant information. This eliminates cumbersome duplicate resubmissions that could potentially lead to data loss.


1) Automated policy claims

2) Reduction in Insurance Fraud

3) Crypto Protect - underwritten by “AA” rated global insurer and it will protect assets of blockchain startups in the initial launch. 

4) PolicyPal Application - different technologies for both the Web and Mobile versions of the application

5) PolicyPal API

6) PolicyPal Network dApp - interface for PolicyPal Network members to check on the bonus token received when they purchase insurance policy from existing business

7) Survey participation mechanism  - surveying process to allow the community to determine what product features and insurance product ideas they would like to see built and deployed on the network in the future. 

ICO Rating Analysis
Team Evaluation
4.00 / 5.00
3.33 / 5.00
Token Economics
4.00 / 5.00
Business Evaluation
4.20 / 5.00
Hype and media presence
4.00 / 5.00


Team - Founders:
Are the founders known? Do they have relevant experience and connections?
  • 1. Unknown people. No serious background information available.
  • 2. Partial information available, no relevant experience.
  • 3. Background information available, no relevant experience.
  • 4. Solid, relevant background and connections available.
  • 5. Solid, well known, experienced and well connected founders.
Team - Advisors:
What level of commitment, experience and connections do the advisers bring?
  • 1. No reputable advisors with relevant experience.
  • 2. Few advisors with little to no relevant experience.
  • 3. Advisers with relevant experience.
  • 4. Reputable advisors with relevant experience and connections.
  • 5. High profile highly experienced, well connected and committed advisors.
Product - Technology Layer:
Is the product innovative? Does it contribute to the blockchain ecosystem?
  • 1. No, the product is just a clone with no contribution.
  • 2. The product is a dapp with minimal interest and little contribution to the ecosystem.
  • 3. The product is a dapp, exchange or protocol addressing a real problem or need.
  • 4. Innovative product offering a solution to a high interest problem.
  • 5. Innovative protocol tackling critical problems of highest interest.
Product - Proof of concept:
Is the proof of concept comprehensive? Does it address a real problem or need?
  • 1. No, incoherent concept or no need for it.
  • 2. Difficult concept to understand, hardly any need or problem to solve.
  • 3. Clear concept which addresses a real problem.
  • 4. Clear, well thought concept which addresses a real problem of high interest.
  • 5. Exceptional proof of concept addressing a critical problem.
Product - MVP:
Has the concept been tested? Is there an MVP? How far is the launch?
  • 1. Untested concept.
  • 2. Initial tests, no MVP.
  • 3. MVP ready, Alpha launch.
  • 4. MVP ready, Beta launch.
  • 5. Fully working initial product.
Token Economics - Token utility:
Does the token have any utility? Is it a core function to the network?
  • 1. No, the token has no utility.
  • 2. Token has a limited, unclear utility.
  • 3. The token has some added, but not inherent value.
  • 4. The token is embedded in the network and has inherent value.
  • 5. The token has both inherent and added value and is embedded at the core of the network.
Token Economics - Network effect:
Are strong network effects built into the system? Are incentives aligned to encourage the growth of the network?
  • 1. No network effects built in.
  • 2. Minimal network effects, unclear incentives.
  • 3. Network effects and incentives present.
  • 4. Solid network effects with clear incentives due to inherent utility.
  • 5. Strong network effects, aligned incentives and high utility value.
Business Evaluation - Valuation:
Is the valuation reasonable ? Sufficient but not too high for the scope of the project?
  • 1. No, the valuation is ludicrous, the project could do with 1/10 of the sum.
  • 2. Valuation is higher than the project would need. Likely a money grab.
  • 3. Valuation is reasonable for the scope of the project.
  • 4. Valuation is modest for the caliber of the project.
  • 5. Valuation is impressively modest relative to the high caliber of the project.
Business Evaluation - Market potential:
What is the market potential? Does the project look like it could penetrate the market and conquer the world?
  • 1. No clear market potential.
  • 2. Limited market potential.
  • 3. Reasonable market and growth potential.
  • 4. Solid market and growth potential.
  • 5. Exceptional market and growth potential.
Business Evaluation - Competition:
Does the project have competition? How strong does it look relative to its competition?
  • 1. Awful position competing with many strong players.
  • 2. Weak position facing strong competition.
  • 3. Reasonable position facing strong competition.
  • 4. Solid position facing weak competition.
  • 5. Exceptional position, facing almost no competition.
Business Evaluation - Supply sold:
Does the team distribute a reasonable amount of the tokens so as to encourage create strong incentives and network effects?
  • 1. Negligible supply, greedy team.
  • 2. Small supply, poor incentives.
  • 3. Modest supply, weak incentives.
  • 4. Reasonable supply, responsible team.
  • 5. Large supply, solid inventive, committed team.
Business Evaluation - Vesting:
Does the team have a sufficient stake to have aligned incentives? Do they have a vesting schedule implemented?
  • 1. Large stake, no vesting.
  • 2. Small stakes, no vesting.
  • 3. Modest stakes, no vesting.
  • 4. Reasonable stakes, modest vesting.
  • 5. Solid stake, healthy vesting.
Hype and media presence:
Is the project present on social media and chats? Is there interest for it?
  • 1. No presence, negative image.
  • 2. Modest exposure and no interest.
  • 3. Reasonable exposure and modest interest.
  • 4. Solid exposure and high interest.
  • 5. Exceptional exposure, high interest and considerable hype.
Final Score


Val Ji-hsuan Yap
CEO, Founder
Lucas Chua
Chief Strategy Officer
David Hoong
Head of Broking
KC Wong
Tech and Blockchain Lead
Yan Wye Huong
Software Engineer


Shaun Djie
Co-Founder at DigixGlobal
Scott Walchek
CEO, Founder at Trōv
Yiseul Cho
MIT Grad, Ex-Facebooker, Former HSBC’s Blockchain Team
Vincent Loy
Managing Director at Accenture Asia
Prof. David Lee Kuo Chuen
Professor of Quantitative Finance, Singapore University of Social Sciences
Bo Shen
Founding/Managing Partner at Fenbushi Capital
Wynthia Goh
Former Chief Digital Officer at Aviva Asia


Published at
Introducing the PolicyPal Network
1 year ago
New Advisor to PolicyPal Network: Scott Walchek
1 year ago
PolicyPal Network Roadshow Jan — Feb 2018
1 year ago
Shaun Djie: Blockchain Pioneer as New Key Advisor
1 year ago
Inclusive Insurance for the Emerging Markets
1 year ago
PolicyPal Network Whitelist instructions
1 year ago
PolicyPal Network: FAQs on ICO/ Whitelist/ KYC
1 year ago
Blockchain Rockstar Yiseul as Newest Advisor to PolicyPal Network
1 year ago
PolicyPal Network KYC Instructions Guide
1 year ago
New Additions to PolicyPal Network’s Solid List of Investor Backings
1 year ago
AMA session with PolicyPal Network Founder & CEO Val Yap
1 year ago
Guide for Participating in PolicyPal Network Crowdsale
1 year ago
PolicyPal Network Events in March 2018
1 year ago
PolicyPal Network Crowdsale Smart Contracts
1 year ago