Decentralised Insurance Protocol

July 27, 2018

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

Leavitt Group

As one of the top privately-held insurance brokerages in the nation, we bring you the national resources, expertise, problem-solving skills, and key insurance company and underwriting relationships that will result in an effective risk management and employee benefits strategy.

OTHER WHITEPAPERS
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whitePaper | July 24, 2022

The insurance industry is often associated with complex processes such as claim settlement, hefty paperwork, tiring legal processes, and the responsibility to stay updated on the terms and conditions. This image is now changing as the leading insurance brands are putting forth innovative strategies to revamp the existing workflows and structures to amplify their business growth.

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Is it time to review your claims handling process?

whitePaper | September 5, 2022

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whitePaper | August 1, 2022

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Leveraging data, analytics and automation (including AI / NLP) to transform underwriting operations in the Lloyd’s and London market

whitePaper | May 10, 2022

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12 Insurance Industry Trends in 2023

whitePaper | February 8, 2023

Insurers have been navigating digital transformation alongside economic, political, and environmental disruption. These factors will continue to play a major role in the insurance industry in 2023. While most changes are positive, insurance companies must be agile and ready to adapt to evolving conditions to continue to grow.

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Credit control optimisation: How insurance firms can increase profits

whitePaper | August 1, 2022

After enjoying healthy margins for several years, insurance organisations aren’t as profitable as they once were. McKinsey’s 2022 global insurance report finds that, after decades of stable returns, more than half of insurers now earn less than their cost of equity. Worldwide, around half of all listed insurance organisations have traded below book value over the past five years.

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Spotlight

Leavitt Group

As one of the top privately-held insurance brokerages in the nation, we bring you the national resources, expertise, problem-solving skills, and key insurance company and underwriting relationships that will result in an effective risk management and employee benefits strategy.

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