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Nivaura Reinsurance Contract Deployment 2016

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Overview of a Reinsurance Smart Contract Deployment on a Private or Public Ethereum Blockchain. This project was created and on the Nivaura Financial Instrument Issuance and Administration Engine.

Publié dans : Technologie
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Nivaura Reinsurance Contract Deployment 2016

  1. 1. Confidential – for emailed recipients only, please do not distribute Reinsurance Platform Deployment
  2. 2. Platform for Life Cycle Management of Decentralised Smart Financial Reinsurance Instruments • Execute bilateral or multilateral deals • Coordinate and agree terms with counterparties with full audit trail • Structure standard legal documentation automatically • Deploy decentralized smart contracts to administer structured reinsurance contracts • Interface reinsurance platform with internal systems and or external data providers to securely trigger smart contract events • Easy to use communication channels • Structure transferable instruments and enable trading between platform users, with custody managed on blockchain 2 2 Confidential – for emailed recipients only. Any use beyond consideration for intended proposal strictly prohibited.
  3. 3. Platform Has Full Communication and Alert Functionality 3 Confidential – for emailed recipients only. Any use beyond consideration for intended proposal strictly prohibited.
  4. 4. Easy to Use Live Contract Management 4 4 Confidential – for emailed recipients only. Any use beyond consideration for intended proposal strictly prohibited.
  5. 5. New Contract Terms Coordinated and Agreed Online 5 Confidential – for emailed recipients only. Any use beyond consideration for intended proposal strictly prohibited.
  6. 6. Contract Coordination and Change History Recorded 6 Confidential – for emailed recipients only. Any use beyond consideration for intended proposal strictly prohibited.
  7. 7. Agreed Contract Legal Documents Structured 7 Confidential – for emailed recipients only. Any use beyond consideration for intended proposal strictly prohibited.
  8. 8. Bilateral or Multilateral Contract Issuance 8 Confidential – for emailed recipients only. Any use beyond consideration for intended proposal strictly prohibited.
  9. 9. Agreed Contracts Deployed and Administered using Blockchain Smart Contracts 9 Confidential – for emailed recipients only. Any use beyond consideration for intended proposal strictly prohibited.
  10. 10. Administrator Has Control To Manage Functions, Addition of New Instruments and Users 10 Confidential – for emailed recipients only. Any use beyond consideration for intended proposal strictly prohibited.
  11. 11. Instrument Types Supported COLLATERAL (Trust Account) SPECIAL PURPOSE VEHICLE (SPV) INVESTORS ISSUER (Insurer or Reinsurer) MMF Principal Principal MMF + SCAT + (Residual) Principal Contingent Payment SCAT SCAT : Instrument Spread (=Premium) MMF : Money Market Fund Returns Trigger Monitoring and Confirmation Service Trigger Event TS1 TS2 TS3 TS4 TS5 TS7 TS8 TS6 11 Confidential – for emailed recipients only. Any use beyond consideration for intended proposal strictly prohibited. • TS1: Instrument Terms Coordinated and Contract Structuring • TS2: Investment Register Updated and Funds Transferred • TS3: Delivery of Certificates / Confirmations to Investors and Issuers • TS4: Recurrent Premium Payments to SPV for Allocation to Investors • TS5: Recurrent Premium Payment from SPV to Investors • TS6: Trigger Event Confirmation and Value -> Go to TS8 • TS7: Principal Payment to Investor and Contract Closure (End) • TS8: Principal Payment to Issuer and Contract Closure in Case of Event (End) • Reinsurance Swaps • Catastrophe Bonds • Reinsurance Bouquet • Tradable Insurance Policies
  12. 12. 12 Confidential – for emailed recipients only. Any use beyond consideration for intended proposal strictly prohibited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ouquet Structure Terms With Customizable Lines of Business And Key Contract Feature Selection • After Feature Lines of Business and Other Feature Customization, Legal Document Generation and Smart Contract Construction and Deployment Occurs Automatically • Key data for feature selection and claims losses can be provided by direct feed from internal systems or other data sources (see Technology Overview sections
  13. 13. Automate d Document ation Online Terms Coordinat ion Online Marketin g and Roadshow s Online Subscripti on and Execution STP Clearing and Settleme nt Automate d Admin and Reporting I S S U A N C E E X E C U T I O N ADMINISTRA TION Automate d Document ation Online Terms Coordinat ion Online Marketin g and Roadshow s Online Subscripti on and Execution STP Clearing and Settleme nt Automate d Admin and Reporting I S S U A N C E E X E C U T I O N ADMINISTRA TION Automate d Document ation Online Terms Coordinat ion Online Marketin g and Roadshow s Online Subscripti on and Execution STP Clearing and Settleme nt Automate d Admin and Reporting I S S U A N C E E X E C U T I O N ADMINISTRA TION Automate d Document ation Online Terms Coordinat ion Online Marketin g and Roadshow s Online Subscripti on and Execution STP Clearing and Settleme nt Automate d Admin and Reporting I S S U A N C E E X E C U T I O N ADMINISTRA TION Automate d Document ation Online Terms Coordinat ion Online Marketin g and Roadshow s Online Subscripti on and Execution STP Clearing and Settleme nt Automate d Admin and Reporting I S S U A N C E E X E C U T I O N ADMINISTRA TION Automate d Document ation Online Terms Coordinat ion Online Marketin g and Roadshow s Online Subscripti on and Execution STP Clearing and Settleme nt Automate d Admin and Reporting I S S U A N C E E X E C U T I O N ADMINISTRA TION Automate d Document ation Online Terms Coordinat ion Online Marketin g and Roadshow s Online Subscripti on and Execution STP Clearing and Settleme nt Automate d Admin and Reporting I S S U A N C E E X E C U T I O N ADMINISTRA TION Automate d Document ation Online Terms Coordinat ion Online Marketin g and Roadshow s Online Subscripti on and Execution STP Clearing and Settleme nt Automate d Admin and Reporting I S S U A N C E E X E C U T I O N ADMINISTRA TION Allianz Risk Transfer Reinsurer B Allianze Re Allianz SE (Audit) Reinsurer A Allianz SE (Finance) Allianz SE (Risk) Reinsurer C • All Allianz Internal Functions can have a Blockchain Node, so data can be shared seamlessly without need for reconciliations • Each Reinsurer in the contract can have a standalone interface on the Blockchain • In the test case the transactions sent to the network won’t be encrypted, but in a production solution data encryption would be leveraged to ensure all data transmitted to the network and stored on the network is confidential Private Blockchain Deployment Between All Relevant Allianz Functions and Key External Stakeholders Confidential – for emailed recipients only. Any use beyond consideration for intended proposal strictly prohibited.13
  14. 14. • The information provided by Nivaura in this document is proprietary and confidential to Nivaura. • Without Nivaura’s prior written permission, this Response, either in whole or in part, must not be reproduced in any form or by any means or disclosed to others or used for purposes other than its evaluation by the intended party. It may not be disclosed to any third party even for the purposes of evaluation, except as expressly authorised by Nivaura in each case. • Where we have mentioned other Clients or Partners by name we stipulate that no contact be made with any such Client or Partners without the prior approval of Nivaura in each case. • Where this Response makes reference to trademarks that may be owned by others, the use of such trademarks herein is not an assertion of ownership of such trademarks by Nivaura and is not intended to represent or imply the existence of an association between Nivaura and the lawful owners of such trademarks. • This Response and any document to which it is attached is subject to (i) completion of each party’s internal review process and; (ii) subject to contract, where applicable. • Whilst care and attention has been exercised in the preparation of this Response, Nivaura do not accept responsibility for any inaccuracy or error or any action taken in reliance on the information. This Response remains subject to contract and all warranties whether express or implied by statute, law or otherwise are hereby disclaimed and excluded to the extent permitted at law. • Any pricing or valuation information provided in this document is provided on a budgetary basis for evaluation purposes only. Any final agreement by the parties on pricing or valuations shall be agreed via an appropriate contract (to be agreed). © Nivaura 2016 w w w . n i v a u r a . c o m i n f o @ n i v a u r a . c o m

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