MAP Value Proposition

Building on blockchain technology enables QolaQ to provide a solution that ensures an automated and trustworthy transaction ecosystem. Specifically, in the case of QolaQ’s MAP, in lieu of case-by- case claim approval through underwriting, claims are processed via decentralized voting by the Members to determine the outcome. Membership, contributions and claim payments are also all facilitated via the Members’ digital wallets using USDC.

Leveraging blockchain technology for these processes reduces transaction costs and ensures Members do not have exposure greater than their pro rata payout obligations, which are automatically executed, and recorded on chain.

Becoming a QolaQ MAP Member also offers multiple benefits, including:

1. No Recurring Premiums

With QolaQ’s MAP, contributions are made only after a claim is approved for payment. This eliminates the upfront commitment of requiring ongoing premium payments.

2. Less Costly

By leveraging a mutual aid model, QolaQ eliminates the expense structure of insurance providers, thereby removing significant costs, especially those associated with agents, legacy systems, distribution and underwriting.

3. Decentralized

As compared with the centralized, “black box” processes of insurance providers, QolaQ’s MAP is decentralized and empowers the Members to make claim decisions. This approach enables transparency throughout the process, from claim submission to the calculation of payout, fees, and Member contributions.

4. Inclusive

In the case of conventional insurance -- in addition to the obligation of an upfront financial obligation in the form of recurring premiums -- there are multiple underwriting rules and exclusions, which limits participation. The cost structure of insurance providers also creates barriers for participation, particularly due to the premium costs and policy complexities. In the case of QolaQ’s MAP, however, there are no underwriting restrictions and participation is available to all Members. QolaQ’s MAP aims to simplify risk sharing by maximizing goodwill, inclusiveness, and fairness – all implemented through QolaQ’s MAP and supported by USDC.