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A Blockchain-Based Approach to Supporting Reinsurance Contracting

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Advances in Emerging Trends and Technologies (ICAETT 2020)

Part of the book series: Advances in Intelligent Systems and Computing ((AISC,volume 1302))

Abstract

Reinsurance is a strategy used by the insurer to protect themselves from underwriting risk. In this line, an insurer acquires an insurance policy from another called reinsurer. In this way, the contractual responsibility that must be fulfilled between these two entities is specified. Thus, collaborative and transparent efforts are required in this business. In addition, automatic processing and the integrity of the information flow must be guaranteed. Faced with these challenges, blockchain is an innovative technology that allows registering and automating operations using smart contracts and complex cryptographic mechanisms that provide trust and integrity for transactions, without the need for third-party supervision. With these characteristics, this research explores how blockchain technology can become a collaborative and supportive tool in reinsurance contracts. For this, a layered overview and model are designed. Contributions and conclusions are provided at the end of the document.

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Authors and Affiliations

  1. Facultad de Ingeniería y Ciencias Aplicadas, Universidad Central del Ecuador, 170129, Quito, Ecuador

    Julio C. Mendoza-Tello

  2. Departamento de Electrónica, Telecomunicaciones y Redes de Información, Escuela Politécnica Nacional, Quito, Ecuador

    Xavier Calderón-Hinojosa

Authors
  1. Julio C. Mendoza-Tello
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  2. Xavier Calderón-Hinojosa
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Corresponding author

Correspondence to Julio C. Mendoza-Tello .

Editor information

Editors and Affiliations

  1. Eindhoven University of Technology, Eindhoven, Noord-Brabant, The Netherlands

    Miguel Botto-Tobar

  2. Escuela Superior Politécnica de Chimbor, Riobamba, Ecuador

    Omar S. Gómez

  3. Escuela Superior Politécnica del Chimbo, Riobamba, Ecuador

    Raúl Rosero Miranda

  4. Universitat de Valencia, Valencia, Valencia, Spain

    Angela Díaz Cadena

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Mendoza-Tello, J.C., Calderón-Hinojosa, X. (2021). A Blockchain-Based Approach to Supporting Reinsurance Contracting. In: Botto-Tobar, M., S. Gómez, O., Rosero Miranda, R., Díaz Cadena, A. (eds) Advances in Emerging Trends and Technologies. ICAETT 2020. Advances in Intelligent Systems and Computing, vol 1302. Springer, Cham. https://doi.org/10.1007/978-3-030-63665-4_20

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