Bridge Mutual | November 21, 2020
Decentralized insurance supplier Bridge Mutual has begun the first-since forever insurance inclusion offering in one of the quickest developing computerized resource markets: stablecoins. Bridge Mutual depends on a decentralized, discretionary insurance application that permits users to guarantee one another and get repaid in case of a market decline or an assault.
The administration one-ups the competition by offering to guarantee stablecoins and trades, not simply brilliant contracts. Additionally, Bridge Mutual is based on the Polkadot network, which offers fork-less, on-chain updating capacities and an unrivaled transaction expense structure.
Users can join the Bridge Mutual biological system by buying BMI tokens and marking BMI in Bridge inclusion pools. Assets inside the inclusion pools are naturally put on-chain in different stages, for example, Compound and Aave to create yields for users. Statements are produced on-chain by an actuarial recipe; users may connect their Web 3 wallet (Metamask and others) to pay for the inclusion subsequent to getting the statement. Part of the charges paid by users purchasing inclusion is part among users giving that inclusion as a benefit sharing motivator.
Stablecoin insurance claims are settled immediately. All different cases experience a 3-stage casting a ballot cycle that settles claims in about a month and a half or less. Motivating force frameworks are set up to guarantee that each guarantee is arbitrated reasonably and precisely without misrepresentation or collusion.
“Our platform does not require any form of identification from its users. All funds within our ecosystem are held in smart contracts; Bridge is entirely non-custodial. No Bridge team member ever has access to the funds being staked on the system,” said Bridge Mutual Founder and CEO Michael Miglio.
Miglio, an accomplished blockchain lawyer, has offered legitimate types of assistance to various profoundly noticeable blockchain ventures, including Akropolis, Certik, Kinesis, NOIA, QTUM, FABRK and Gate.io. Bridge Mutual has collected a heavenly group of insurance and monetary specialists, just as software engineers and different legal counselors. Bridge Mutual plans to be the main stage to give inclusion to the enormous $20B+ stablecoin economy, which is developing at an exponential rate. The task appreciated oversubscribed holy messenger and seed adjusts, and is at present in negotiations with top-level blockchain assets to fill its private round.
About Bridge Mutual
Bridge Mutual provides a decentralized, scalable and comprehensive system of smart contracts to insure smart contracts, stablecoins, centralized exchanges, and other crypto and DeFi products. It offers transparent, auditable, on-chain investment strategies to return yields and profit-sharing to its users and does not require KYC or personally identifying information.
expert.ai | December 21, 2021
Expert.ai (EXAI:IM), the premier artificial intelligence (AI) platform for language understanding, today released a new Expert IQ Report, "How Cyber Insurance Has Evolved in 2021." The report provides insurers with insight into unprecedented change and risk being driven by the pandemic, causing costs to soar and confusion to spread across the marketplace. In the first half of 2021 alone, threat research shows global cyber-attacks climbed 29%, ransomware incidents jumped 93% and demands rose an astounding 518%.
Report findings are produced using expert.ai's advanced natural language understanding (NLU) capabilities. The technology takes a unique approach to AI by combining symbolic human-like comprehension and machine learning (ML) to create practical applications that deliver real business impact and measurable benefits. With deep understanding of any kind of document (presentations, contracts, emails, claims, reports, posts, social media messages, etc.) it helps organizations turn unstructured language details into structured data at speed and scale. This augments discovery capabilities and streamlines the automation of complex, knowledge-centric processes.
The Expert IQ Report is a regular series that provides deep content analysis from massive amounts of language data on a given subject. For "How Cyber Insurance Has Evolved in 2021," expert.ai analyzed a sample of approximately 1,130 articles, published in a range of insurance industry outlets between January 2021 and November 2021. Focused on insurance news, opinions and analysis, the analysis identified the cyber-related issues discussed most online, capturing the main topics, trends and sentiment expressed about them.
A few of the cyber insurance findings in the report include:
Products and impact: Cybersecurity and cyber risks were common themes with data clearly showing both a need for more suitable insurance products and the potential impact on existing contracts.
Insurers struggle with risk: A strong correlation between cyber threats and COVID-19 appears to show that underwriters are struggling to evaluate their exposure to pandemic-generated vulnerabilities.
Resilience and relevance: Cyber risks have been testing the ability of organizations to prepare for, respond to and recover from attacks. As a result, resiliency emerged as the main topic across 67% of cyber-related articles in the sample analyzed, proving the insurance sector is still relevant to global improvements in cyber resilience.
"What makes policy review and comparison especially complex for cyber is that threats are evolving and growing. Contracts may exceed 100 pages – it's not easy to streamline the review process to avoid unintended risk exposure while ensuring coverage certainty, With NLU, we augment underwriters by making policy reviews faster, more consistent and accurate. We help them overcome new challenges - like those posed by 'silent cyber' - by improving the reading, identification and extractions of critical information around explicit and implicit coverages."
-Pamela Negosanti, head of sector strategy for financial services and insurance at expert.ai.
"The right AI approach can provide enterprises competitive advantage by automatically generating fast, accurate market understanding from existing business documents. You can identify emerging risks and trends, gain a detailed picture of sentiment, design more effective and profitable products, seize new opportunities and more. It's insight today for decision-making that'll shape your future and provide strategic advantage."
-Keith C. Lincoln, expert.ai CMO
Expert.ai (EXAI: IM) is the premier artificial intelligence platform for language understanding. Its unique hybrid approach to natural language combines symbolic human-like comprehension and machine learning to extract useful knowledge and insight from unstructured data to improve decision making. With a full range of on-premises, private and public cloud offerings, expert.ai enhances business operations, accelerates and scales natural language data science capabilities while simplifying AI adoption across a vast range of industries, including insurance, banking & finance, publishing & media, defense & intelligence, life science & pharma, and oil, gas & energy. Expert.ai has cemented itself at the forefront of natural language solutions and serves global businesses such as AXA XL, Zurich Insurance Group, Generali, The Associated Press, Bloomberg INDG, BNP Paribas, Rabobank, Gannett and EBSCO.
Obsidian Insurance Holdings, Inc. | November 02, 2021
Hylant, one of the largest privately owned insurance brokerages in the U.S., announces the launch of RoadPilot®, a "pay as you go" hired non-owned program designed for the restaurant home food delivery industry.
The program takes a unique approach by integrating real-time monitoring of driver behavior with the assessment of risk. The program will typically target restaurant groups with 20 or more locations. Traditional insurance products can lead to gaps in coverage for restaurant businesses that rely on delivery drivers because premiums are based on industry averages and applied universally regardless of the drivers' liability profiles. With RoadPilot, premiums are developed to more fairly and accurately reflect a delivery driver's actual behavior and actual delivery miles travelled. Specific rating factors include aggregate driver risk profiles derived from hard braking, rapid acceleration, speeding, unsafe maneuvers, and phone usage. Premium is determined on a monthly basis.
"We're excited to begin this program with Obsidian Insurance Company, Their team has a proven track record of providing solutions for industry niches. The collaboration between our teams during the development of the product was great. We look forward to a long-term partnership with Obsidian on RoadPilot."
- Mike Ugljesa, President of Hylant Administrative Services.
"We are thrilled to partner with a highly respected program partner that has strong and proven expertise in the restaurant and food franchise industries. The RoadPilot program brings a much-needed product to the food delivery segment and has developed an innovative approach to more accurately price risk with the incorporation of telematics. We look forward to a long-term partnership with Hylant as well as the strong panel of reinsurers supporting the program."
- William Jewett, CEO of Obsidian Insurance Company
RoadPilot is an app-based technology that drivers install on their phones. Clients also have access to a convenient dashboard that is available 24/7. This provides managers with real-time data to monitor in-progress driving and drill down into historical driving statistics to help identify and address unsafe driving habits. Data can also be used to reward and incentivize employees who are driving safely.
Hylant is one of the largest privately held insurance brokerages in the United States. Founded in 1935 and headquartered in Toledo, Ohio, we offer complete risk management services, employee benefits brokerage and consultation, loss control, healthcare management and insurance solutions for businesses and individuals locally, nationally, and internationally.
About Obsidian Insurance Company
Obsidian Insurance Company is a subsidiary of Obsidian Insurance Holdings, Inc., a new fronting insurance holding company that issues policies underwritten by Managing General Agents, Managing General Underwriters, and program managers. Obsidian sources, underwrites, and manages a diverse portfolio of property, casualty, and specialty insurance programs, and reinsures the majority of its program business to select reinsurers. Obsidian was formed in 2020 in partnership with leading insurance industry executives and Genstar Capital.