Seminar Will Address Blockchain and Parametric Risk Transfer
August 04, 2022
We live in a VUCA (volatile, uncertain, complex, and ambiguous) world. The risk landscape is increasingly changing. Risk managers, captive insurance company owners, and risk takers have to continuously come up with new concepts and innovations to cover systemic risks such as cyber, climate change, terror and war, and pandemics.
New risks call for new solutions. The International Risk Management Institute (IRMI), Captive.com, and ESCP Business School, a leading university in the world for masters in finance, are pleased to present a new 1-day seminar specifically tailored for captive and reinsurance professionals focusing on how the future of parametric and nonparametric risk transfer via blockchain will look.
The event will take place on September 20 as part of the IRMI Transportation Risk Conference. More information can be found at this link.
The blockchain seminar brings you closer to the future and shows how blockchain technology, in combination with parametric solutions, is shaping the future of risk transfer.
Parametric insurance solutions have been around for a long time but are increasingly being replaced by parametric risk transfer. This is used when hard-to-place/hard-to-cover risks need to be covered on the market. The seminar will show you how you can participate in this model and how the product development and underwriting work.
Blockchain technology makes it possible to digitize the entire value chain and generate savings of up to 45 percent in administrative costs, particularly in underwriting and claims processing. The seminar demystifies blockchain technology and explains how smart contracts and tokenization of risks work and how blockchain can support parametric concepts.
In addition to risk and captive insurance company managers, the seminar is also recommended for brokers as well as employees from the areas of digitalization, underwriting, claim management, and product development at (re)insurers. The seminar would also benefit representatives of insurance-linked security funds, hedge funds, and pension funds who are interested in investments in low-probability/high-severity risks and in purchasing such risks through an exchange.
August 04, 2022