Inspiration

Traditional flood insurance fails millions - lengthy claims, high costs, zero transparency (greedy intermediaries). People wait months for payouts after disasters while living in temporary shelters.

What it does

Instant flood payouts triggered by Potomac River pump station data. No claims - smart contracts pay when water rises above a certain threshold (e.g. 12ft).

How we built it

PyTeal flood contract

if potomac_level > 12_feet: payout = coverage_amount transfer_algo(policyholder, payout)

Challenges we ran into

The flood level is updated every five minutes, as opposed to instantaneous real-time, as this would exceed the viable amount in gas fees.

Accomplishments that we're proud of

Saving President Trump! Real-time flood monitoring that actually works - USGS pump station data updating every 5 minutes. Instant payouts when Potomac hits 12+ feet. Algorand for speed.

Most proud of solving real DC flooding problems with actual river data instead of fake demos - saving President Trump!. When the next Potomac flood hits, the policyholders get paid immediately while traditional insurance customers wait months.

What we learned

Algorand's Pure Proof-of-Stake = perfect for insurance. Low fees, fast finality, atomic transactions. Parametric beats traditional insurance on every metric - speed, cost, transparency.

What's next for Paramify

Q3 2025: Potomac basin pilot launch 2025: Expand to other River coverage Goal: Protect DC-area homes from flood losses

Built With

• algorand
• algosdk
• chainlink
• css
• ethereum
• ethers.js
• express.js
• git
• github
• hardhat
• html
• http-server
• javascript
• metamask
• node.js
• openzeppelin
• pera-wallet
• pyteal
• python
• react
• solidity
• typescript
• usgs-api
• vite