AIGANG TO BUILD DAO INSURANCE FOR IOT DEVICES USING SMART CONTRACTS

Last updated: June 19, 2025, 19:08 | Written by: Ari Paul

Imagine a world where your devices automatically report malfunctions and initiate insurance claims without you lifting a finger.This isn't science fiction; it's the vision of Aigang Network. In the future, the company plans to roll out digital insurance for self-driving cars and drones. About Aigang Network: Aigang Network s blockchain protocol for digital insurance is here with next-generation insurance for Internet-of-Things (IoT) devices using Decentralised Autonomous Organisation (DAO) and smart contracts.They are pioneering a new era of digital insurance specifically tailored for the burgeoning Internet of Things (IoT).Aigang aims to revolutionize the InsurTech sector by creating a decentralized insurance blockchain protocol powered by a Decentralized Autonomous Organization (DAO) and smart contracts. The damage of IoT devices could be tracked and verified by checking the list of required conditions, using the smart contracts algorithms. Aigang aims to be the single digital insurance protocol working with all of these devices drones, phones and even self-driving cars.The objective is to create a fully automated and transparent system where insurance processes are streamlined, efficient, and secure, driven by data from the IoT devices themselves.Think of it as insurance 2.0, where policies are dynamic, responsive, and truly reflect the real-time condition of the insured asset.Aigang’s work is paving the way for an autonomous insurance model that will be useful for manufacturers and insurers.

This innovative approach not only simplifies the claims process but also opens up possibilities for entirely new types of insurance products, from smartphone battery coverage to comprehensive protection for self-driving cars and drones.By leveraging the power of blockchain technology, Aigang is poised to capture a significant share of the global IoT insurance market, projected to reach a staggering USD 42.7 billion by 2025. Skip to main content Bitcoin Insider. MenuThis article explores Aigang's ambitious project, delving into the technology behind it, its potential benefits, and its implications for the future of insurance.

The Aigang Network: Revolutionizing Insurance with IoT and Blockchain

Aigang Network is at the forefront of integrating blockchain technology with the Internet of Things (IoT) to create a new paradigm in insurance. Running on Ethereum testnet, the first-of-its-kind demo for Aigang Network's peer-to-peer digital insurance blockchain protocol for Internet- of-Things devices. The announcement marks theTheir goal is to build a fully automated insurance protocol that leverages the power of smart contracts and decentralized governance.This innovative approach promises to transform the insurance industry by offering more efficient, transparent, and cost-effective solutions.

The core concept behind Aigang is to create a system where IoT devices can communicate their operating state and potential failures directly to the insurance protocol. SINGAPORE, Aug. 7, 2025 /PRNewswire/ - Digital insurance protocol, Aigang Network provides an insight into the future of insurance for new-age technology infrastructure, starting from mobileThis allows for automated risk assessment, claim initiation, and payout processing, eliminating the need for manual intervention and reducing the potential for fraud.

Key Components of the Aigang Network

Decentralized Autonomous Organization (DAO): Aigang uses a DAO to govern the insurance protocol. Aigang using the AIX token aims to automate the insurance industry through the Internet of Things (IoT) that can already diagnose their own operating state and communicate imminent failureThis allows for community-driven decision-making, ensuring that the system is fair, transparent, and responsive to the needs of its users.
Smart Contracts: Smart contracts are self-executing agreements written in code and stored on the blockchain.They automate the insurance process, from policy creation to claim settlement, ensuring that all parties adhere to the agreed-upon terms.
IoT Devices: IoT devices provide real-time data about the insured asset, allowing for accurate risk assessment and automated claim processing. Use case: The Lemonade Crypto Climate Coalition, funded by the Lemonade Foundation, a non-profit insurtech company, implemented the eco-friendly blockchain and smart contracts for parametric insurance. The smart contract solution automates weather risk assessment, calculation of due premium amounts, damage evaluation, and claim settlement.This data can include information about device performance, environmental conditions, and usage patterns.

How Aigang's DAO Insurance Works

Aigang's system is designed to connect smart devices directly to insurance policies, automating the entire insurance lifecycle.This connection enables proactive maintenance alerts, automatic claim filing, and faster payouts, reducing friction and costs for both insurers and policyholders.Below are the crucial steps that highlight how Aigang’s DAO insurance operates.

Device Connection: IoT devices are connected to the Aigang Network, providing real-time data about their status and performance.
Risk Assessment: Smart contracts analyze the data from IoT devices to assess the risk associated with each policy.This allows for dynamic pricing and personalized coverage.
Automated Claim Filing: When an IoT device detects a fault or failure, it automatically triggers a claim through the smart contract.
Automated Payouts: Once the claim is validated, the smart contract automatically executes the payout, transferring funds to the policyholder's wallet.
Re-insurance: To manage exceptions and large-scale events, Aigang incorporates re-insurance mechanisms to ensure the sustainability of the protocol.

The automation facilitated by Aigang translates to significantly reduced operational costs for insurance companies.The manual processes of claim filing, assessment, and payout are minimized, freeing up resources for other critical tasks.Additionally, the transparency and immutability of blockchain technology drastically reduce the potential for fraudulent claims, fostering trust and integrity within the insurance ecosystem.

Use Cases and Applications of Aigang Insurance

The versatility of Aigang's protocol allows it to be applied to a wide range of industries and use cases. Aigang is a Blockchain Protocol for Digital Insurance. It enables insurance marketplaces for IoT (Internet of Things) devices that are fully automated due toHere are some examples of how Aigang insurance can be used:

Mobile Phone Insurance: Aigang's demo app focuses on smartphone battery insurance, showcasing how IoT data (battery health) can trigger automated claims.This allows users to receive compensation when their battery performance degrades below a certain threshold.
Automotive Insurance: By connecting to a car's telematics system, Aigang can automatically detect accidents and initiate claims.This can streamline the claims process and reduce the time it takes to receive compensation.
Drone Insurance: Aigang can provide insurance for drones, using data from the drone's sensors to assess risks and automate claims.This can be particularly useful for commercial drone operators who rely on their drones for business purposes.
Smart Home Insurance: By integrating with smart home devices, Aigang can detect and report property damage, such as leaks or break-ins. Traditionally, the policyholder would manually file a claim, but with smart contracts, this event can also be detected automatically through Internet of Things (IoT) devices or other technologies. For example, a car s telematics system could automatically report an accident, or a smart home sensor could detect and report property damage.This can enable faster claim processing and reduce the impact of damage.

For example, the Lemonade Crypto Climate Coalition uses a similar approach with parametric insurance, leveraging blockchain and smart contracts for weather risk assessment, premium calculation, damage evaluation, and claim settlement.This demonstrates the real-world viability and potential of decentralized insurance solutions.

The AIX Token and its Role in the Aigang Ecosystem

The AIX token is the native cryptocurrency of the Aigang Network and plays a crucial role in the operation and governance of the protocol. Aigang Provides an Insight Into the Future Proof Digital Insurance Protocol on BlockchainIt serves several key functions, including:

Payment for Insurance Premiums: Policyholders can use AIX tokens to pay for their insurance premiums.
Claim Payouts: When a claim is approved, policyholders receive payouts in AIX tokens.
Governance: AIX token holders have the right to participate in the governance of the Aigang DAO, voting on proposals and shaping the future of the protocol.
Staking and Rewards: Users can stake their AIX tokens to earn rewards, contributing to the security and stability of the network.

By incentivizing participation and aligning the interests of all stakeholders, the AIX token helps to create a thriving and sustainable ecosystem for Aigang insurance.

Benefits of Aigang's Decentralized Insurance Protocol

Aigang's approach to insurance provides numerous advantages over traditional insurance models, including:

Transparency: All transactions and data are recorded on the blockchain, making the system transparent and auditable.
Efficiency: Automation streamlines the insurance process, reducing costs and processing times.
Security: Blockchain technology provides a secure and tamper-proof platform for insurance data.
Accessibility: Decentralization makes insurance more accessible to a wider range of people, including those in underserved markets.
Cost-Effectiveness: Reduced operational costs and fraud prevention translate to lower premiums for policyholders.

Addressing the Challenges of IoT Insurance

While Aigang's vision is compelling, there are several challenges that need to be addressed to ensure the successful adoption of IoT insurance:

Data Privacy: Ensuring the privacy of IoT data is crucial. Welcome! Log into your account. your username. your passwordAigang needs to implement robust data protection measures to prevent unauthorized access and misuse of sensitive information.
Security Risks: IoT devices are often vulnerable to security breaches. The launch earmarks the initiation of a fully Decentralized Autonomous Organization (DAO) marketplace for consumer insurance, made possible through Ethereum smart contracts. The demo app is designed and marketed to offer smartphone battery insurance highlighting Aigang Protocol.Aigang needs to work with device manufacturers to improve the security of IoT devices and prevent malicious actors from manipulating data.
Regulatory Compliance: The insurance industry is heavily regulated. Aigang offers a fully automated insurance protocol, made possible through smart contracts and IoT devices. The company s technical goal is to build a protocol on a blockchain which would enable community, companies, developers build insurance modules themselves, using its infrastructure.Aigang needs to ensure that its protocol complies with all applicable regulations in each jurisdiction where it operates.
Scalability: The Aigang Network needs to be able to handle a large volume of transactions and data. With smart contracts and a tokenised system that assesses risk, we re building a platform for autonomous insurance, usable by any manufacturer or insurer. Here is the pathway to that: The global IoT insurance market is expected to be worth USD 42.7 Billion by 2025 and we are positioning ourselves as a significant innovator in that space.The protocol needs to be scalable to accommodate the growing number of IoT devices and insurance policies.

To overcome these challenges, Aigang must prioritize data security, collaborate with IoT device manufacturers, stay ahead of regulatory changes, and continuously improve the scalability and performance of its blockchain protocol.

Aigang's Technological Infrastructure

Aigang is built on the Ethereum blockchain, leveraging its smart contract capabilities to automate insurance processes. The Singapore-based leader in blockchain protocol for digital insurance, Aigang Network, this week launched its unique Android and iOS demo app. Running on Ethereum testnet, the first-of-its-kindThe choice of Ethereum provides access to a robust and well-established ecosystem of developers, tools, and infrastructure.

The company is focused on building a protocol that allows community members, developers, and other companies to build insurance modules using Aigang’s core infrastructure. Bishop, CA ( ) Today. Plenty of sunshine. High 42F. Winds NNW at 10 to 15 mphThis emphasis on open innovation ensures that Aigang remains at the cutting edge of the InsurTech industry.

Smart Contracts and Data Validation

A key component of Aigang's technology is the use of smart contracts to validate the condition of IoT devices. Aigang offers a fully automated insurance protocol, made possible through smart contracts and IoT devices. The Aigang Network's blockchain protocol provides next-generation digital insurance for Internet-of-Things (IoT) devices using Decentralized Autonomous Organization (DAO) and smart contracts.Smart contracts automate the verification process by checking predefined conditions and triggering payouts when those conditions are met. The Aigang Network's blockchain protocol offers next-generation digital insurance for Internet-of-Things (IoT) devices using Decentralized Autonomous Organization (DAO) and smart contracts.For example, a smart contract could monitor the battery health of a smartphone and automatically initiate a claim when the battery capacity drops below a specified threshold.

The Future of Aigang and IoT Insurance

Aigang is positioning itself as a key innovator in the rapidly growing IoT insurance market.The company's fully automated insurance protocol, powered by smart contracts and IoT devices, has the potential to transform the insurance industry. Aigang Network s blockchain protocol for digital insurance is here with next-generation insurance for Internet-of-Things (IoT) devices using Decentralised Autonomous Organisation (DAO) and smartThe platform seeks to address the challenges by prioritizing data security and regulatory compliance.

Frequently Asked Questions About Aigang and IoT Insurance

What is Aigang Network?

Aigang Network is a blockchain protocol for digital insurance, specifically designed for Internet of Things (IoT) devices. Aigang is an autonomous insurance network with a fully automated insurance and a platform for insurance innovation. It is their mission to bring together IoT devices, data and autonomous insuranceIt aims to automate insurance processes using smart contracts and a decentralized autonomous organization (DAO).

How does Aigang use smart contracts?

Smart contracts are used to automate various aspects of the insurance process, including policy creation, risk assessment, claim initiation, and payout processing.These contracts execute automatically when predefined conditions are met, ensuring transparency and efficiency.

What are the benefits of using Aigang for insurance?

The benefits include increased transparency, improved efficiency, enhanced security, greater accessibility, and reduced costs compared to traditional insurance models.

What types of devices can be insured through Aigang?

Aigang can provide insurance for a wide range of IoT devices, including smartphones, cars, drones, smart home devices, and more.

How does the AIX token work in the Aigang ecosystem?

The AIX token is used for payment of insurance premiums, claim payouts, governance, and staking rewards within the Aigang Network.

How does Aigang address data privacy concerns?

Aigang prioritizes data privacy by implementing robust data protection measures, such as encryption and access controls, to prevent unauthorized access and misuse of sensitive information.

Conclusion: The Dawn of Autonomous Insurance

Aigang's innovative approach to insurance using DAOs, smart contracts, and IoT devices represents a significant step forward for the InsurTech industry.The company's vision of an autonomous, transparent, and efficient insurance ecosystem has the potential to revolutionize the way we protect our connected devices and assets.By addressing the challenges of data privacy, security, and regulatory compliance, Aigang can pave the way for widespread adoption of IoT insurance.

As the IoT continues to expand and become increasingly integrated into our lives, the need for specialized insurance solutions will only grow.Aigang is well-positioned to capitalize on this trend, offering a compelling alternative to traditional insurance models and capturing a significant share of the growing IoT insurance market.Keep an eye on Aigang as they continue to innovate and shape the future of insurance. The Aigang Network s blockchain protocol offers next-generation digital insurance for IoT devices using a decentralized autonomous organization (DAO) as well as smart contracts. The Group is to make a huge leap into InsurTech sector, making itself ready for the novel technological changes soon to happen in future.If you are interested in the future of insurance, consider exploring the possibilities of DAOs, smart contracts, and IoT in revolutionizing the industry.