Claim - Create

How to Create a Claim for Compensation

This guide will walk you through the process of seeking compensation after an incident for which you have cover. Creating a claim is a crucial step in utilizing your DeFi insurance coverage.

Steps to Create a Claim

1. Access the Claim Page

First, ensure you're connected to the DApp and navigate to the claim creation area.

1. Connect your wallet to the DApp.

2. Confirm you're on the appropriate network (e.g., Ethereum mainnet, Polygon, etc.).

3. Navigate to the Claim page to start the claim process.

Accessing claim page

2. Select the Relevant Cover

Choose the specific cover for which you are creating a claim.

1. Review the list of covers associated with your account.

2. Select the cover that corresponds to the incident for which you're seeking compensation.

3. Ensure that the selected cover is valid and was active at the time of the incident.

Selecting relevant cover

3. Specify the Claim Amount

Determine and enter the amount for which you wish to file a claim.

1. Review the terms of your cover to understand the maximum claimable amount.

2. Enter the amount you wish to claim, ensuring it doesn't exceed your cover limit.

3. Double-check the entered amount for accuracy.

Specifying claim amount

4. Review and Submit the Claim

Before creating the claim, ensure you have the necessary funds for fees and collateral.

1. Check that you have enough ETH (or the chain's equivalent) for:

   • The arbitration fee

   • The claim collateral

2. Understand that these amounts will be returned unless your claim is challenged and proven fraudulent.

3. Review all claim details one last time.

4. When ready, click the "Open Claim" button to submit your claim.

These deposits ensure that claimants do not spam the arbitration system and are acting in good faith.

Reviewing and submitting claim

5. Wait for Transaction Validation

The claim creation transaction will now be processed on the blockchain.

1. Keep your wallet open and connected.

2. Wait for the transaction to be confirmed (this may take a few minutes depending on network congestion).

Waiting for transaction validation

6. Consider Adding Evidence (Optional)

While most claims don't require additional evidence, you may choose to reinforce your case.

1. Evaluate whether additional evidence would strengthen your claim.

2. If needed, click the "Add evidence to my claim" button.

3. Follow the Add Evidence guide for detailed instructions on submitting evidence.

You can add evidence at any point as long as your claim has not been challenged. If challenged, you'll have a 48-hour window to add additional evidence before juror review.

Adding evidence

7. Monitor Your Claim Status

Keep track of your claim's progress through your dashboard.

1. Locate your newly created claim in your dashboard.

2. Monitor the "Status" tab of your claim regularly.

3. Be prepared to respond if your claim is challenged.

4. Once the challenge period has elapsed, your claim should be automatically validated and made available for withdrawal.

Monitoring claim status

Important Considerations

• Accuracy is crucial when filing a claim. Ensure all information provided is truthful and verifiable.

• Be aware of the timeline for claim processing and potential challenges.

• Familiarize yourself with the protocol's dispute resolution process in case your claim is challenged.

• Keep all relevant documentation and evidence related to your claim, even if not initially submitted.

• Understand the potential outcomes of the claim process, including payout deductibles or claim rejections.

• Be prepared for the possibility of a longer resolution process if your claim is challenged or complex.

By following these steps, you've successfully created a claim for compensation. Remember to stay engaged with the process, respond promptly to any requests for additional information, and be patient as your claim is processed. If you have any doubts or questions during the process, don't hesitate to seek clarification from the protocol's support channels or community forums.