Why Decentralized Reinsurance?
We democratize access to risk pools & risk trading.
- 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.