InsurePal aims to disrupt the actual insurers' model by providing a platform to register insurance for blockchain transactions, vehicles, property, life and health with endorsements from the social network. The platform core mechanism enables InsurePal clients to endorse each other in order to obtain a discount on their insurance premium. The endorsement has to be backed by a financial guarantee from the endorser.

InsurePal token (IPL) is an ERC-20 token that will be used as the medium of exchange within the platform.