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IndividualClaims

Overview​

The IndividualClaims contract enables cover owners to submit claims and redeem payouts if their claims are accepted. Claims go through a decentralized assessment process where members of the mutual decide the claim outcome.

The contract integrates with multiple protocol components, including:

  • Assessment (IAssessment) – Handles voting and decision-making for claims.
  • Cover (ICover) – Provides cover policy and segment details.
  • Staking Pools (IPool) – Facilitates payout processing.
  • RAMM (IRamm) – Updates token prices and liquidity.

Key Concepts​

The Mutual and Claim Assessment Process​

The mutual operates as a decentralized insurance protocol. Instead of a centralized authority deciding claims, assessors (community members) vote on whether a claim is valid.

How it works:

  1. A cover owner submits a claim, paying an assessment deposit in ETH.
  2. A new assessment poll is created.
  3. Assessors vote to accept or deny the claim.
  4. After voting ends, the claim is either:
    • ✅ Accepted → Cover owner can redeem the payout.
    • ❌ Denied → No payout is given.

Cover Segments​

Covers are divided into segments to allow partial claims.
Each cover has multiple segments that correspond to different time periods or risk exposures.

TermDescription
Cover IDUnique identifier for the cover.
Segment IDA sub-unit of a cover, representing a portion of coverage.
Segment PeriodThe time duration of the segment.

🔹 Example:
A 6-month cover could be split into two segments of 3 months each. The owner can submit a claim for one segment instead of the entire cover.

Claim Lifecycle​

Claims go through several stages:

  1. Pending: The claim is submitted and under assessment.
  2. Accepted: The claim is approved after voting.
  3. Denied: The claim is rejected after voting.
  4. Cooldown: The claim is accepted but cannot be redeemed yet.
  5. Complete: The payout has been redeemed.
  6. Unclaimed: The claim was accepted, but the redemption period expired.

⏳ Deadlines:

  • Cooldown before payout: Configurable period (e.g., 7 days).
  • Redemption window: Default 30 days after the cooldown ends.
  • If not redeemed in time: The payout expires and cannot be claimed.

Assessment Deposit and Rewards​

When submitting a claim, the cover owner must pay a deposit in ETH.
This deposit is used to incentivize assessors.

Formula for Deposit & Rewards:

Assessment Deposit = max(min deposit, dynamic deposit)

Where:

  • Min Deposit = Flat fee (e.g., 0.05 ETH).
  • Dynamic Deposit = Based on requested amount & NXM price.

Does the claimant get their deposit back?

  • If the claim is accepted → Deposit is refunded.
  • If the claim is denied → Deposit is not refunded.

Claim Status and Payout​

After a claim is accepted, the cover owner can redeem their payout.
This must be done before the redemption deadline.

💡 Anyone can call redeemClaimPayout(), but the payout always goes to the cover owner.

Mutative Functions​

submitClaim​

Submits a claim for a cover.

function submitClaim(
    uint32 coverId,
    uint16 segmentId,
    uint96 requestedAmount,
    string calldata ipfsMetadata
) external payable override onlyMember whenNotPaused returns (Claim memory claim);
ParameterDescription
coverIdThe cover ID to claim against.
segmentIdThe specific segment of the cover.
requestedAmountAmount requested for payout.
ipfsMetadataIPFS hash containing proof of loss.
  • Requires an ETH deposit.
  • Emits ClaimSubmitted event.
  • The same cover cannot have multiple active claims.

Integration Best Practices​

What to Track Off-Chain​

  1. Claim Submission History → Use getClaimsToDisplay().
  2. NXM Price Updates → Needed to estimate deposit in UI.
  3. Payout Deadlines → Track accepted claims & redemption deadlines.

Which Functions Should Be Polled?​

  • getClaimsToDisplay() → Fetch latest claim statuses.
  • getAssessmentDepositAndReward() → Calculate deposits before submitting claims.
  • redeemClaimPayout() → Check if claims are redeemable.

Gas Considerations​

  • Claim Submission can be costly due to assessment deposits.
  • Use batching if submitting multiple claims.

Frequently Asked Questions​

Who can submit a claim?​

Only the cover owner or an approved operator.

Can I submit a claim for a cover I just bought?​

No. You must wait at least one block after purchase.

How do I know when my payout is ready to redeem?​

Check your claim's status via getClaimsToDisplay() or listen for the ClaimAccepted event.

  • A claim goes through a cooldown period before becoming redeemable.
  • Use redeemClaimPayout() before the redemption deadline to receive your payout.

What happens if my claim is accepted but I forget to redeem my payout?​

If your claim is accepted but you don't redeem the payout within the deadline, you lose it permanently.

  • Redemption deadline = cooldown period (e.g., 7 days) + 30 days redemption window.
  • After this period, the claim is marked Unclaimed, and the payout can no longer be withdrawn.
  • Track your accepted claims and set reminders to avoid losing payouts.

Can someone else redeem my payout for me?​

Yes. Anyone can call redeemClaimPayout(), but the payout always goes to the cover owner.

Do I get my assessment deposit back if my claim is accepted?​

Yes. The deposit is refunded when you redeem the payout.

Can I appeal a rejected claim?​

No. Once a claim is denied, you cannot appeal. You must submit a new claim.

Why does my claim require an assessment deposit in ETH instead of the cover asset?​

ETH is used to incentivize assessors and prevent spam claims.

What's the difference between an individual claim and other claim types?​

  • Individual Claims → A single cover owner submits the claim.
  • Group Claims (future feature) → Claims are processed in batches.

Integration Best Practices:​

  • Track accepted claims and their deadlines using getClaimsToDisplay().
  • Set reminders for users when the payout is redeemable to avoid expiration.

Contact and Support​

If you have questions or need assistance integrating with the IndividualClaims contract, please reach out through the official support channels or developer forums.

  • Developer Forums: Join our community forums to discuss and seek help.
  • Official Support Channels: Contact us via our official support email or join our Discord.
  • Documentation Resources: Access tutorials and FAQs on our official website.
  • GitHub Repository: Report issues or contribute to the codebase.

Disclaimer: This documentation provides a high-level overview of the IndividualClaims contract. Always refer to the latest contract code and official resources when developing against the protocol.