Innovation In Insurance
Last updated
Last updated
Reinsurers are the absolute holders of risk on a global scale. They are the backbone of the insurance industry, and the failsafe for the worldwide economy. As such, they tend to dictate how insurance policies are framed and distributed. But because they are large and top-heavy conglomerates...
Any change in reinsurers is slow. This affects the entire insurance value chain, from Insurtech startups to established insurance companies.
A new and agile blockchain-based reinsurer is needed to make innovative products possible, such as AI-based pay-as-you-go crypto insurance, on-demand auto & health insurance, and much more.
In risk analysis, the risk is traditionally defined as a function of probability and impact. The probability is the likelihood of an event occurring and the consequences, to which extent the project is affected by an event, are the impacts of risk.
