Lunos (UNO)

UnoRe is a decentralised reinsurance platform that endeavours to democratise the traditionally corporation-dominated reinsurance process. Reinsurance involves an entity (the reinsurer) assuming a portion or the entirety of the risk covered under a policy issued by an insurance company, usually in return for a premium. UnoRe's platform allows community members to invest in, trade, and design innovative insurance products, thus supporting the growth of Insurtech-based companies within its ecosystem.

The platform was founded by Jaskanwar Singh, a CEO with substantial experience in the Health Insurtech sector in the Middle East, and Sujith Sizon, a CTO with a background in Web Application Security Research and the development of blockchain-based platforms.

The UNO token is a key component of the UnoRe platform, serving to incentivise user engagement and used in various capacities across the ecosystem. Its applications include offering discounts on insurance purchases, facilitating payouts for insurance claims, acting as collateral for investments in insurance risk pools, and enabling participation in governance through staking.

UnoRe aims to broaden access to the insurance industry by utilising blockchain technology to foster innovation in the Insurtech market. This approach is expected to lead to the development of new and unique insurance products and services, in contrast to those provided by traditional, more bureaucratic insurance companies. Additionally, the platform includes features that allow investors to stake tokens, traders to trade risks, and innovators to propose new insurance products.