The Institutes RiskBlock Alliance Overview May 2018 1 | The - PDF document

5/2/2018 The Institutes RiskBlock Alliance Overview May 2018 1 | The Institutes – RiskBlock Alliance Blockchain Overview 2 | The Institutes – RiskBlock Alliance 1

5/2/2018 W hat is Blockchain? Fundamentally a digital ledger system for recording business transactions and events Near real time The blockchain enables the near real time settlement of recorded transactions, removing friction and reducing risk, but also limiting ability to charge back or cancel transactions. Trustless environment Blockchain technology is based on cryptographic proof, allowing any two parties to transact directly with each other without the need for a trusted third ‐ party. Distributed ledger The peer ‐ to ‐ peer distributed network records a public history of transactions. The blockchain is distributed and highly available. The blockchain retains a secure source of proof that the transaction occurred. Irreversibility The blockchain contains a certain and verifiable record of every single transaction ever made. This mitigates the risk of double ‐ spending, fraud, abuse, and manipulation of transactions. Censorship resistant The crypto ‐ economics built into the blockchain model provide incentives for the participants to continue validating blocks, reducing the possibility of external influencers to modify previously recorded transaction records. 3 | The Institutes – RiskBlock Alliance 3 RiskBlock Overview 4 | The Institutes – RiskBlock Alliance 2

5/2/2018 RiskBlock Value Proposition First true industrywide risk and insurance consortium cutting across all insurance industry sectors Backed by The Institutes and Multiple Use Case build approaches: Member Only, trusted by the Risk and P&C Insurance Collaborative, Solution Provider Focused, RiskBlock industries for over 100 years Only or a Hybrid of any of these options Partnering with LIMRA to bring Blockchain To the Life, Annuity Use it and lose it philosophy of not storing and Retirement space members important data on the Blockchain Collaborating with multiple Platform agnostic, supporting the building industry associations across the of and communication between various Insurance space current and future flavors of Blockchain Build once, use many approach Non ‐ biased, industry focused to architecture, use cases and non ‐ profit and member owned reusable tool kit components Certified Blockchain Professional and No science experiments! Certified Blockchain Engineer programs Focused on creating real world production applications that bring value to members 5 | The Institutes – RiskBlock Alliance Certified RiskBlock Ready Designations for Solution Providers This Year’s Goal: 40 Members (Status ‐ 25 and Counting) 6 | The Institutes – RiskBlock Alliance 3

5/2/2018 Use Cases 7 | The Institutes – RiskBlock Alliance Potential I nsurance Use Cases Life & Annuity Property & Casualty • Intermediary Elimination • Additional Policy Payments • Proof of Insurance • Innovation of P2P Insurance • Improving Back ‐ Office Operations • Disclosures Associated With • First Notice of Loss • Providing history of assets / client • "Simplified In ‐ Force Transactions" Transactions Parametric Insurance events (KYC) • • Automated App Triage • Product Exchanges • Subrogation • Loyalty Programs • Health Records • Product Data and Associated Rider Data • Fraud Prevention • Enhancing direct sales opportunities • Client Onboarding • Agent Profile Data • Automated rule ‐ based claim • Better placement of non ‐ • Insurance "smart contracts" • Client Profile Data processing standardized or specialized risks • Near Real ‐ Time Data/Dynamic Pricing • Product and Agent Certifications • Claim assessment • Underwriting among multiple • New Policy Applications • Product Illustrations • Claim payment insurers / co ‐ insurance • Scanned Documents For Associated • Agent Compliance Information Improved transparency in Underwriting / risk assessment • • Transactions • Claims Data (Life Insurance Only) compliance • Quoting and premium collection • Settlement Information For • Policy Documents For Delivery To End • Improving value ‐ added service • Online Insurance "Navigators" Transactions Client capabilities for brokers / agents • Fine Art Tracking Multi ‐ Line/Miscellaneous Reinsurance • Contracts & Claims • Cat Bonds and ILWs • Peer ‐ to ‐ Peer Insurance • Micro Insurance • Operating Entity Standardization • Reinsurance Facilities and Exchanges • Group Formation • Identity Management • Global Risk and Financial Management • Multi ‐ Layer Application/Burn ‐ Down Predictive Risk front end to Surety Bonds • • Transactional Accounting • Reinsurance Exchange • Group Insurance • Investor Program • Workers Comp • Group Financial Activities • Behavior Based/Risk Based Need M&A • increase the types of insurance covered by online insurance aggregators • Transaction Settlement • Contractual Payouts • Legal Negotiation • Due Diligence Tracking/Verification • More personalized (differentiated) quote and coverage support 8 | The Institutes – RiskBlock Alliance 4

5/2/2018 Questions 9 | The Institutes – RiskBlock Alliance 5