Smart contract use case examination: insurance linked securities
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Monax is developing an open platform called Eris for creating blockchain-based applications, emphasizing compliance through smart contracts and SDKs. The document discusses risk securitization, which involves creating tradable securities from risk factors, and describes the need for authenticity and coordination in data management for effective risk assessment. Monax offers support, software development kits, and add-on modules to assist in building ecosystem applications that leverage risk securitization, particularly with resilience bonds.
Smart contract use case examination: insurance linked securities
- 1. Use Case Examination - Risk Securitization
- 2. Monax is the company behind eris, an open platform for developers and devops to build, ship, and run blockchain-based applications for business ecosystems. Monax sells legally compliant smart contract-based SDKs and premium support to accelerate your time to market with sophisticated ecosystem applications.
- 3. What are blockchains, smart contracts, & ecosystem applications?
- 4. Blockchains Event logs assumed to be operated and ordered across multiple organizations Who did what when Data Assurance across organizations For more information click here
- 5. Smart Contracts Scripts assumed to be operated and verified across multiple organizations Who did what how Process Assurance across organizations For more information click here
- 6. Ecosystem Applications Applications operated by multiple organizations The real paradigm shift For more information click here
- 7. What is risk securitization?
- 8. Risk securitization seeks to encapsulate risk into a securitized instrument that can be bought and sold on markets. Risk securities use a risk index to value the security or a specified loss event and explicitly factor risk factors into pricing of the instrument. Risk securities allow us to leverage markets to insure big, complex events.
- 9. Catastrophe Bonds Debt instrument meant to raise money in case of a catastrophe such as a hurricane or earthquake. Resilience Bonds Link catastrophe bonds with capital investments in resilient infrastructure to reduce losses.
- 10. The ecosystem of resilience bonds
- 11. What problems do risk securitization systems need to address?
- 12. Authenticity & attribution costs (is the data reliable?) Reconciliation costs (is the data current?) Coordination costs (humans to coordinate = $) Problem...
- 13. Authenticity & attribution costs (is the data reliable?) Reconciliation costs (is the data current?) Coordination costs (humans to coordinate = $) Problem... Chain of custody over data (is the data used by pricing models accurate?) Project Management (are the capital projects on track?) Super-organization focus (how will rebates work?) Requirement...
- 14. Authenticity & attribution costs (is the data reliable?) Reconciliation costs (is the data current?) Coordination costs (humans to coordinate = $) Problem... Chain of custody over data (is the data used by pricing models accurate?) Project Management (are the capital projects on track?) Super-organization focus (how will rebates work?) Requirement... Data Assurance across organizations Process Assurance across organizations New Opportunities to co-create value Ecosystem Apps Provide...
- 15. Why are ecosystem applications a good fit for resiliency bonds?
- 16. Data Assurance across organizations Process Assurance across organizations New Opportunities to create value Ecosystem Apps Provide... Chain of custody over data (is the data used by pricing models accurate?) Project Management (are the capital projects on track?) Super-organization focus (how and when will rebates flow?) Requirement...
- 17. Data Assurance across organizations Process Assurance across organizations New Opportunities to create value Ecosystem Apps Provide... Fidelity over pricing model data, even in novel markets End to end lens on resilient infrastructure processes Optimize instrument’s objectives across stakeholders Benefit... Chain of custody over data (is the data used by pricing models accurate?) Project Management (are the capital projects on track?) Super-organization focus (how and when will rebates flow?) Requirement...
- 18. What would a risk securitization ecosystem application look like?
- 22. How could this ecosystem application move into production?
- 23. Educate Value proposition clear Mindset shift understood Experiment Explore viable use cases Identify production path
- 24. Prototype Remove scaffolding Extend participants Go Live! Harden, harden, harden Governance framework
- 25. How can Monax help you build this, or another, ecosystem application?
- 26. Software Development Kits Our SDKs allow your team to focus on your application's true potential. Addon Modules We have a range of add-on modules for our SDKs providing turn-key solutions for specific uses. For more information click here
- 27. Support Our support packages help teams reduce the friction of building ecosystem applications that will resonate in the marketplace. Education Every support package includes access to monthly learning sessions with our industry-leading engineering team. For more information click here
- 28. Monax products recommended for this use case: ● eris: The Ecosystem Application Platform ● Insurance SDK ● Dual integration addon module ● Business process modelling addon module ● Claims management addon module ● Catastrophe bonds addon module (Q2, 2017) ● Parametric insurance addon module (Q2, 2017) ● Insurance SDK Apache Camel plugin (Q3, 2017) ● Enterprise package - Monax premium support & education
- 29. Contact the Marmots! Build your ecosystem applications with Monax