Decentralised Insurance Protocol

| July 27, 2018

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The concept of insurance spans a large part of our history and its earliest roots can be traced to as far back as the 3rd B.C with the Chinese merchants. To insure their cargo against potential losses during the course of transportation, they reduced their risk by spreading them across multiple boats for the fear that any of the boats failed to reach their intended destinations. The basic modern insurance structure we are familiar with today comprises of carriers and policyholders connected through middleman agents responsible for much of their sales. Despite posing figures accounting for US$3.92 trillion or 5.7% of the world’s economic output, the behemoth which is the global insurance ecosystem is still largely bogged down by an archaic “One Size Fits All” approach and has not significantly innovated itself towards greater efficiencies.

Spotlight

New York Central Mutual

Largest New York State Regional Insurance Company. Insurance products are Personal Automobile, homeowners and small commercial. 1000 plus independent agents in New York State. Focus on employees providing superior customer service to our New York State insureds and independent agents. Our employees provide the personal touch and make our company strong! Located in upsate New York and second largest employee in Otsego county. Committed to New York communities.

OTHER ARTICLES

Business insurance coverage in the COVID-19 era

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Will COVID-19 Disrupt the InsurTech Movement?

Article | April 1, 2020

If there is one thing that we have all learned with the spread of COVID-19, it is that there is virtually no industry that is immune to its impact. The global pandemic is disrupting the daily lives of individuals, the operations of businesses, the activities of governments, and even the approach of cherished institutions like museums, universities, and religious organizations. The P&C insurance industry, like many others, is reeling from the implications of the virus. Amid the rapid changes that are taking place, it is important to assess the impact of COVID-19 on the InsurTech movement. After all, InsurTech has always been touted as the ultimate disruptor of the insurance industry. But, might COVID-19 prove to be a disruptor to InsurTech?

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How Big Data is Impacting Client Expertise in Insurance Industry?

Article | February 19, 2020

Big data has helped the financial services industry, including with the insurance industry, evolve like never before. Maximum count of traditional insurers and insurance corporations are preferring big data analytics to boost client expertise. Moreover, insurers are utilizing massive big data to its fullest capability or are there scope to try and do more? The insurance regulator has already allowed a sandbox, a mechanism to promote and facilitate innovation, and currently, the Federal Reserve Bank of Asian country has planned a sandbox for fintechs. Disha Sanghvi asks specialists if this may cause higher utilization of massive information and a lot of innovation within the insurance space.

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Spotlight

New York Central Mutual

Largest New York State Regional Insurance Company. Insurance products are Personal Automobile, homeowners and small commercial. 1000 plus independent agents in New York State. Focus on employees providing superior customer service to our New York State insureds and independent agents. Our employees provide the personal touch and make our company strong! Located in upsate New York and second largest employee in Otsego county. Committed to New York communities.

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