2. 4.000.000.000
*) Quelle: Gesamtverband der deutschen Versicherer
€ per year. One in five Germans views insurance fraud as a
peccadillo, which almost every one commits once. *)
The damage caused by insurance fraud is
14. Etherisc Vision
Insurance on Bockchain will become:
● highly automated
● standardized and interoperable
● transparent and easy to audit
● provably fair
Product/Service
Development
Marketing
and Sales
Policy
Administration
Claims
Management
Asset
Management
Reinsurance
15. Decentralized insurance market
● https://etherisc.com/whitepaper
● Token model for investors to capitalize risk pools
● Whitepaper, simulation, first tests
16. Achievements so far
● Winner Blockchain startup contest 2016 (together with Status)
● Most funded project at hack.ether.camp
● Blockchain Oscar 2017 for “most innovative blockchain startup”
● Partnership with EY to explore regulatory landscape
● W1 Forward InsurTech accelerator
18. A lot of big challenges ...
Legal
What is the relation
of a smart contract to
written legal
contracts?
Regulatory
Which regulatory
obligations have to
be met?
Products
What are interesting
business cases?
24. Products
Who already has bitcoins today?
→ No market penetration yet
→ Therefore: Lower the barriers,
→ build fiat bridges, educate
→ New markets: emerging markets,
→ microinsurance, insurance on demand
28. Expected value of shared risks
Capital for long tail risks
Coordination costs
1
2
Etherisc Token Model
Risk Pool
Token
Platform
Token
3
29. Risk pool Tokens vs. Platform Tokens
Price determined by:
◉ Risk profile
◉ Duration
◉ Capital Markets
→ Financial Derivative
Price determined by:
◉ Quality of service
◉ Utilization of Platform
◉ Markets/Competition
→Entrepreneurial Risk
Risk Pool
Token
Platform
Token
30. How will the Platform Token work?
Product/Service
Development
Marketing
and Sales
Policy
Administration
Claims
Management
Asset
Management
Reinsurance
Insurance Company
31. Decentralized Platforms replace monolithic companies
Product/Service
Development
Marketing
and Sales
Policy
Administration
Claims
Management
Asset
Management
Reinsurance
Platform
Platform tokens secure the economical reliability of the platform (“Proof of Stake”)
34. Reinventing insurance for a blockchain economy
● Will there still be insurances in the blockchain economy?
● How does the insurance business model look in a blockchain economy?
● Showcase: FlightDelay Insurance
Insurance is a core component of every economy. As an oil in the gearbox, they distribute
risks and thus enable businesses whose risks would be intolerable to each individual. Thus,
insurance companies have grown to the world's largest monolithic organizations. Will they
survive under the conditions of a blockchain-oriented economy? How does insurance look if
you reinvent them completely on the blockchain?
The example of a flight delay insurance shows how this works and what the consequences
look like for the industry.