In the first film of the series, hear about the lightbulb moment that drove Hugh Karp to leave his 15-year career in the insurance industry to build Nexus Mutual, a decentralized insurance alternative built on the Ethereum blockchain. Hugh’s Web3 story begins at Devcon 3, where he first shared the unique value his project could bring to the blockchain ecosystem.
Hugh Karp is the founder of Nexus Mutual, a decentralized insurance alternative that empowers people to collectively manage risk without the need for centralized intermediaries. He is an insurance professional and actuary with over 15 years of experience in a broad range of insurance and reinsurance roles, including as CFO of UK Life operations for a global reinsurer.
Nexus Mutual uses high-quality, tamper-proof market data from Chainlink Price Feeds to help secure its multi-currency capital pool. On-chain access to globally precise market data helps the protocol maintain its minimum capital requirement (MCR) and accurately calculate quotes for new insurance coverage.
“Chainlink was our first and only choice. The high availability and robust security of Chainlink Price Feeds are critical for helping us protect our decentralized insurance alternative. Security is a critical aspect of what we are doing; it’s at the core of our product and is absolutely essential to providing the best options for our members.”
Hugh Karp, Founder of Nexus Mutual
Block Stories is a series of short films that digs beneath the code and uncovers the origin stories of the most successful Web3 protocols. From next-generation insurance alternatives to NFTs and the emerging metaverse, discover the principles, people, and technologies behind the biggest Web3 innovations.