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.

Safeinsure is developing a decentralized insurance marketplace with a focus on equitable price discovery and global access to insurance. Their network is powered by the SINS coin and has a Proof-of-Stake (PoS) consensus mechanism.