Etherisc’s mission is to build decentralized insurance applications, making the purchase and sale of insurance more efficient, enable lower operational costs, provide greater transparency into the industry of insurance compared to traditional operations, and democratize access to reinsurance investments.
In September 2016, we created and alpha-tested a parametric insurance application for con- sumers. The Flight Delay Dapp1 successfully demonstrated the benefits of decentralized in- surance by providing flight delay insurance policies to attendees of Ethereum’s Devcon2 con- ference held in Shanghai, China. The risk pool for this demonstration was capitalized by the Etherisc team and, though limited in size, clearly demonstrated an innovative decentralization use case worthy of further exploration.
Based on our research and experience with the Flight Delay Dapp, it is clear that insurance applications with fixed risk pools do not scale. Cryptographic tokens enable highly customized economics. Our goal is to tokenize reinsurance risks and make them available on a global “open access” marketplace . This strategy provides both flexibility and scale for decentralized insurance risk pools, enables new types of insurance products, makes the product extremely safe for customers, and democratizes access to reinsurance investments. "
Company Blog: https://blog.etherisc.com