Hyperledger Global Forum 2021

Today distribution of contract information in the reinsurance space is via email, paper and pdf. These legacy practices prevent straight through processing of information adding cost, duplication and drag to the insurance value chain. Our proposal highlights the need for Ricardian contract structure in reinsurance. We discuss how the form allows a contract to move from the world of law, through the world of cryptography and into the world of accountancy. We articulate how Insurance risk transformation (Transformer: Vehicles) can deliver capital efficiently to Carriers, and ring fence it using UK HM Treasury design principles. We strive to ease flow of capital, improve transparency and efficiency by the incorporating Ricardian insurance risk transformation (RIRT) in Hyperledger. A new lab is being constituted under Hyperledger banner, to be live by June 2021.