blockchain & b3i137b3764-69ba-48a6-b43c-da0140… · •increase in “value” for premium ......
TRANSCRIPT
Blockchain&B3iSwissReInstitute– ClientSymposiumNovember2017
ExpertSpeaker:KameshRaghavendraSwissReFacilitator:JayneOlsen
• TheCaseforChange
• BlockchainExplained
• BlockchainDemo
• IndustryCollaborationB3i
Agenda
2
TheCaseforChange…
4
• Largeportionofnon-insurednatcat risks
• Highoperationalcostsamonginsurers
• Inefficienttransactionalmodel
• Cybervulnerability
• Lackoftrustamongindustryparties
4
SignificantProtectionGapAcrosstheregionsandbusinesslines
5
• Customerswantanefficientidentificationprocess
• Increasein“value”forpremium
• Efficientclaimprocessing
• Moderntransactionalchannels
• Personalizationbasedondata
5
TheEraofthe“Customer”Needsandbehaviors havechanged
HighCostofTransactingInefficiencyVulnerabilityImprovetrust
Blockchainofferssolutionswhichcouldsolvechronicindustryproblems
• https://www.youtube.com/watch?v=0vSga0zZW8g
<embedvideo>
BlockchainSimplyVideo:DonTapscottTapscott GroupCEOPublishedby:McKinsey&Company
8
Traditionalledger Sharedledger
Reporting
Reconciliation
Reporting
Reconciliation
$$
Sharedledger
DataInput
AutomaticValidation
AutomaticValidation
AutomaticValidation
AutomaticValidation
AutomaticValidation
AutomaticValidation
ReportingReporting
Reporting
Blockchainshiftstowardsanewledgerset-up
Manyusecasesintheinsuranceindustryareunderexploration
Subrogation Parametric Smartcontractstosettleclaims
Insuranceforconcealeditems
Risktransfermarketplace Micro-insurance
BlockchainExplained…Buildingtheautonomousenterprisesofthefuture
11
11
WhatisBlockchain?
Technology?LikeLTE,Hadoop?
Solution?LikeMobility?BigData?
Transformation?LikePeriphery-less,Data-drivenBizOps?
WhatisBlockchain?Technology?Yes, a shared system of record that delivers almost binding consensus across all counterparties in multilateral transactions across organizational boundaries. Rules of consensus can be programmed through apps called Smart-contracts. #Cryptography #DistributedSystems #SecureMultipartyCompute #ZKPs #Privacy
Solution?Yes, autonomous enforcement & digital management of terms of engagement between counterparties transacting in business processes.#SmartContract #Trade #Title #Provenance #Audit #Compliance
Transformation?Yes, final leap to autonomous enterprise with end-to-end business process assurance from today’s service agility and assurance.#Trade #Title #Provenance #Audit #Compliance
SharedLedgerRecordoftransactionstraceablebacktosetup
ContinuousNotarizationDigitalnotarizationoftransactionsfromcounterparties¬ariessecuredwithCryptography
Consensus(ContinuousVerification)Businessnetworkcomprisingofcounterparties¬ariesenforcingverificationoftransactions.
SmartContractsBusinessrulesembeddedasprocessdesignsenforcingmultilateraladherenceacrossthesharedledgerandconsensus.
Whatisblockchainunderthehood?
Procedural Intelligent Agile Autonomous
BPMS
BusinessIntelligence
Big Data
ArtificialIntelligence
ProcessRobots
SaaS/Cloud
ServiceComposition
Blockchain
SmartContracts
Autonomous§Product lifecycles§Service lifecycles§Customer lifecycles§Business intermediation§Entitlement management§Risk management§Finance & accounting§Audit & compliance
Frontieraheadintheevolutionofenterprises
$0
$500
$1,000
$1,500
$2,000
CY12
CY13
CY14
CY15
CY16
YTD17
Millions
Source:CoinDesk
US$1.8bntillAug2017
Blockchain techventurecapitalinvestments
Harnessingthepromiseofblockchain
Insurance
BlockchainEcosystem
Cryptocurrencies ICOsDecentralized Apps Enterprise
* Not comprehensive
Blockchains asyouhaveheardaboutthem…
BlockchainDemo
BlockchainDemo
• b3i_demo_codex1_20171012.mp4
IndustryCollaboration:B3i
21
RapidGrowthExpandedmembershipjointlyundertakingmarkettestingofprototype
MarketTestingParticipants
B3iMembers
• https://www.youtube.com/watch?v=RSt2gA85p1s
SWISSREINTERNALUSEONLY- CONFIDENTIAL
AboutB3i:PaulMeeusenPublishedby:SwissRe
üEngageactivelyinblockchain-drivenbusinesstransformationacrosstheenterpriseüEngagewiththeblockchain-drivenrisktransferinnovationsledbyindustrythoughtleadersandB3ioverall
üCo-innovatewiththoughtleaderstobuildthefutureofenterpriseriskmanagement
Engage!Enrich!Energize!
• https://www.youtube.com/watch?v=lskpNmUl8yQ
Feelingsceptical?
Thankyou.
SWISSREINTERNALUSEONLY- CONFIDENTIAL
Thankyou.
Legalnotice
©2017SwissRe.Allrightsreserved.Youarenotpermittedtocreateanymodifications
orderivativeworksofthispresentationortouseitforcommercialorotherpublicpurposes
withoutthepriorwrittenpermissionofSwissRe.
Theinformationandopinionscontainedinthepresentationareprovidedasatthedateof
thepresentationandaresubjecttochangewithoutnotice.Althoughtheinformationused
wastakenfromreliablesources,SwissRedoesnotacceptanyresponsibilityfortheaccuracy
orcomprehensivenessofthedetailsgiven.Allliabilityfortheaccuracyandcompleteness
thereoforforanydamageorlossresultingfromtheuseoftheinformationcontainedinthis
presentationisexpresslyexcluded.UndernocircumstancesshallSwissReoritsGroup
companiesbeliableforanyfinancialorconsequentiallossrelatingtothispresentation.
SWISSREINTERNALUSEONLY- CONFIDENTIAL