The current industry structure disincentives’ Insurtech to choose innovative paths as risk cannot be accepted by traditional reinsurers. UnoRe aims to set a new standard for insurance products on and off-chain.
Misalignment of incentives between consumer and insurance company.
In order to expose the blockchain ecosystem to the insurance industry, a regulated institution like UnoRe can act as a trusted intermediary.
With the help of the blockchain ecosystem, we can bring insurance back to its roots: society’s safety net.
Information asymmetry – insurance companies mask information from customers under the guise of reducing transaction costs. Ironically, this leads to incredible profits and an actual increase in transaction costs.
Managers in an insurance company are basically coordinators between processes.
Using blockchain technology, we can truly build a wall between operations which can avoid a conflict of interest.
Resolving the never-ending issue of the lack of the information asymmetry.
Risk pools of insurance companies are attractive investments, but are not open to the public. These pools are so attractive from a value-investing perspective that insurance companies are the most sought after investment for hedge funds.