Tech-Enabled Transformation in the #insurance Industry
▻https://hackernoon.com/top-5-digital-transformation-trends-in-insurance-in-2019-cc718980b8d?sou
Software is a crucial long-term investment for any company, but with rapidly changing insurance software, you, as a provider, might just not know how to keep up and keep your business in the loop.In this article, we’ve compiled the trends that are most likely to affect your enterprise — which ones will be beneficial, what to look out for, and what strategies will be most useful in a few years’ time.Changing Approach to InsuranceInsurance agency software allows agencies to effectively analyze and evaluate risks for businesses and individuals, often using data Clouds and Big Data analysis. It has become a popular tendency to use this feature to support risk management on a more individual level to improve health habits and behavior. This way, providers help customers to move from reacting to (...)
]]>TandaPay is a weak #insurance protocol
▻https://hackernoon.com/tandapay-is-a-weak-insurance-protocol-895ef7cd8724?source=rss----3a8144e
TandaPay Could be A Weak Insurance ProtocolIt’s a powerful coordination protocol for galvanizing movementsTandaPay is not the protocol you think it isBatman must disguise himself as Bruce Wayne for the purpose of dispensing street justicePreviously I have written about how TandaPay allows for small communities to insure against the cost associated with the $500 auto insurance deductible. There are downsides to marketing TandaPay purely as an insurance protocol for covering the cost of a deductible. TandaPay is a very time intensive protocol relative to how much time people currently take to pay for auto insurance. I spend about 10 to 20 minutes every six months to renew my auto insurance policy on Progressive’s website. In the best case scenario TandaPay will require policyholders to (...)
]]>The Case for Stablecoins — 2
▻https://hackernoon.com/the-case-for-stablecoins-2-2723a5a78efa?source=rss----3a8144eabfe3---4
The Case for Stablecoins — 2Two case studies demonstrating how to innovate in fintechImage taken from The Rubin Report’s interview with Peter ThielLet’s start off with a little social experimentOn the left you can see how well received my first post was by three different #ethereum communities. R/MakerDAO, r/Ethereum, and r/ethtrader; I was upvoted 99%, 64%, and 50% respectively. By looking at the screenshot, its even easier to see that for the same post I have three karma ratings of 8, 4, and 0.This might come as a surprise to some but, the Ethereum community is not entirely behind the concept of a stablecoin token built on top of the protocol. Quite frequently the types of responses I would get highlighted how much people disliked centralization in any form. Others seemed to believe that (...)
]]>From Employee to Bootstrapper
▻https://hackernoon.com/from-employee-to-bootstrapper-941f061f207f?source=rss----3a8144eabfe3---
How I Prepared my Finances Before BootstrappingEarlier this month I left my cushy developer job at Amazon to #work for myself. I am 35, living in Seattle with my wife and two small kids, ages 2 and 4. I’m starting this quest for an independent #lifestyle with no #business and household income yet, and my target is to cover my family’s expenses from my new work before I run out of savings.SavingsDue to extraordinary luck and being in the right place at the right time, I managed to save a good amount of money in the last 5 years. My net worth was negative in 2013, but it now stands at around $1.4M, with $1M in liquid assets and the rest in home equity. That entire $1M, minus a small amount, is at stake in this venture. In fact, I’ve already mentally written it all off.On my savings balance I’ve (...)
]]>My Travel #insurance Concept — #product Design — Stage 1
▻https://hackernoon.com/my-travel-insurance-concept-product-design-stage-1-ebcce06a21e7?source=r
Travel Insurance Experiment Stage 1It’s been more than 6 weeks since I wrote the last piece on experimenting on creating a new-age travel insurance product for the modern traveler. I must say, it’s been a journey of discovery and reflecting so far. Much of the foundational work is what I usually go through at startup accelerators and it’s nice to be on the discovery end for a change.So here are some of the points I attempted to solve?What do we stand for?What could the product look like?Who are we selling to?Would the product be something people are willing to pay for? What is the customer value?How does an insurer operate?What are the current pain points users face with travel insurance?Of Note: Travel Insurance is a fairly vanilla type of insurance and serves a specific purpose. Since we are (...)
]]>Why Decent’s serving freelancers first
▻https://hackernoon.com/why-decents-serving-freelancers-first-ff6682f56b30?source=rss----3a8144e
The future of work deserves the future of health #insurance.Before starting Decent, I spent six months working as a freelancer. I did paid growth projects from a hot desk at a coworking space in San Francisco, and got to know the other freelancers there — gifted developers, creatives, and business professionals with the courage and skill to bet on themselves. And I learned what every working freelancer already knows: this profession is exhilarating, but it’s not easy. It’s often lonely. The work is feast or famine. And the lack of affordable health insurance hurts.Freelancing in America survey, 2018My family of four was paying more for health insurance than for anything else in our budget — including rent in the Bay Area. It felt wrong, and it is.My familyHealth insurance premiums and out of (...)
#startup #healthcare #freelance-health #insurance-for-freelancers
]]>Real-life Governance Use Cases in Traditional and Blockchain Industries
▻https://hackernoon.com/real-life-governance-use-cases-in-traditional-and-blockchain-industries-
Blockchain governance is a critical issue as the technology gains wider use across industries. It attracted close attention after the Ethereum DAO incident, where a token holder exploited a bug to funnel about one third of the total value in the network into their own account. (The bug was later fixed via a “forking” algorithm, but the issue remains an open question.) More recently, the heist of more than half a billion dollars’ worth of digital currency from the Coincheck exchange in Japan was largely due to a weak governance structure, which in turn was because of lack of standardization to enable timely action.Governance is about who makes the rules and who enforces them. It is not only about the control of the blockchain; it identifies resolution mechanisms to deal with technological (...)
#decentralized-governance #ecommerce #blockchain-governance #insurance #oath-protocol
]]>The Potential #blockchain Effect on the Automotive Industry
▻https://hackernoon.com/the-potential-blockchain-effect-on-the-automotive-industry-903f16f2329c?
As one of the most technologically advanced and sophisticated industries in the world, the automotive industry is at the forefront of innovation, applying technologies which range across carbon-neutral electric motors, self-driving cars and integration with the Internet of Things.Concurrently, industry participants face efficiency problems in customer service and operations that bring about unnecessary costs and increased prices for goods and services within the automotive industry. These inflated costs pass on to vehicle owners, corporate vehicle service users, etc.Reports from LMC Automotive and Technavio show that new and used car markets worldwide are close to being equal when considered in terms of the number of units sold. In 2016, the total number of used car sales was estimated (...)
]]>Blockchain Use-Cases For #insurance and Home Ownership
▻https://hackernoon.com/blockchain-use-cases-for-insurance-and-home-ownership-1c94047ce71e?sourc
How blockchain will disrupt health insurance, car insurance, and home services.Until becoming apart of the blockchain based home services project, Dashing, I wasn’t fully sold on the idea of “the blockchain.” I knew about Bitcoin and Ethereum but just at the surface level. I didn’t see a real use case for the technology but instead thought it was just another new technology that people were slapping onto their products to get more funding.Joining the Dashing team opened my eyes to the actual usability and practicality of blockchain in real life situations. While before I would nod my head and move on from the topic of Blockchain, I now love chatting with people about ways that they think this cool new tech could “change the world.”Through my research and conversations with some very brilliant (...)
#blockchain-home #blockchain-use-cases #blockchain-home-ownership #blockchain-insurance
]]>Blockchain use-cases for #insurance Industry in 2018
▻https://hackernoon.com/blockchain-use-cases-for-insurance-industry-in-2018-f80c46ab2d?source=rs
We already wrote about using Artificial Insurance for Claims Processing in Insurance Industry. Companies are incurring huge loses because of false claims and scams that happen everyday in the industry. To overcome issues like this, insurance companies are using technologies like blockchain in their existing workflow.Blockchain has been growing as the central repository of truth for many industries and use-cases. The insurance companies are taking advantage of blockchain as it brings transparent information about the transactions, which creates a sense of trust.Here are three major areas where blockchain is transforming insurance industry:UNDERWRITINGUnderwriting is one of the most important part of a insurance company. The department that is responsible for verifying the authenticity (...)
]]>World Economic Forum report :
Blockchain to become ’beating heart’ of financial system
Based on 12 months of research and interviews with more than 200 industry players, the 130 page report explores how distributed ledger technology will affect insurance, payments, market provisioning, investment management, capital raising, and depositing and lending.
▻https://www.finextra.com/newsarticle/29299/blockchain-to-become-beating-heart-of-financial-system
the effects will be hidden, coming from new processes and architecture based on blockchain that simplify back-end processes, making them cheaper, more secure and more accessible, rather than radical finch innovation or new currencies such as bitcoin
[...]
The report also highlights the potential for an inter-bank, blockchain-based fiat currency to streamline the arduous process for transferring money, an innovation which would “cause blockchain technology to enter the finance bloodstream”.
[...]
The report notes that there are risks, including design errors, malicious behaviour and security gaps. In addition, FS firms will have to cooperate while a clear regulatory and legal environment is also needed.
The report:
An ambitious look at how blockchain can reshape financial services
▻https://www.finextra.com/finextra-downloads/newsdocs/WEF_The_future_of_financial_infrastructure.pdf
backup : ▻https://www.docdroid.net/file/download/rljkt6g/wef-the-future-of-financial-infrastructure.pdf
#blockchain
#banking #insurance #payment
#DLT #Distributed_Ledger_Technology
In California the minimum #car liability #insurance coverage for injury or death is only $15k. So if someone with no money and only mandatory insurance runs you over, you have no practical recourse. In France, mandatory car liability insurance coverage for injury or death is unlimited.
]]>American compares his #cancer treatment experience in #France and #USA
and realizes he lives in the third world:
►http://blogs.reuters.com/anya-schiffrin/2014/02/12/the-french-way-of-cancer-treatment
"I found people assumed [my dad] was getting VIP treatment or had a fancy private plan. Not at all. He had the plain vanilla French government healthcare.
I had read many articles about the French healthcare system during the long public debate over Obamacare. But I still I hadn’t understood fully, until I read this interview in the New York Times, that the French system is basically like an expanded Medicaid. Pretty much everyone has insurance and the French get better primary care and more choice of doctors than we do. It also turns out, as has been much commented on, that despite all this great treatment, the French spend far less on healthcare than Americans.
In 2011, France’s expenditure on health per capita was $4,086, compared to $8,608 in the United States, according to the World Health Organization. Spending as a percentage of gross domestic product was 11.6 percent in France while in the United States it was a far higher 17.9 percent"
]]>No Anne Lauvergeon, in fifteen years my #insurance will not be tailored to my genetic risks - ▻http://serendipity.ruwenzori.net/index.php/2013/05/28/no-anne-in-fifteen-years-my-insurance-will-not-be-tailored-to #genetics #discrimination #France
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