Opyn is developing an insurance protocol for decentralized finance. The Opyn insurance platform uses the Convexity protocol, which is built on the Ethereum blockchain, and allows DeFi users to create put and call options. The Convexity protocol enables users to earn premiums on their collateral and lets options buyers protect themselves against the systemic risks involved in DeFi investments.

Insureum is a South Korean company that is developing a blockchain-based protocol for the insurance industry. Their decentralized ecosystem will connect insurance companies with customers and other stakeholders. The Insureum network is powered by the Ethereum-based ISR token.