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安盛:以太坊智能合约助力航空延误险自动理赔

保险业巨头安盛(AXA)是全球第二大金融公司,总资产达1万亿美元,年收入达60亿美元。该公司推出了一款基于以太坊公链的智能合约保险产品。

这款名为Fizzy的产品,与去中心化保险应用程序 Etherisc 类似,即个人支付保险费,如果航班延误超过两个小时,则自动获得赔偿。

自动部分由智能合同通过“简单的if/then规则”处理,飞行数据由第三方提供,通过不同的方式与智能合同连接。

在Fizzy中,这一过程还不是自动的,因为保险费和赔偿都是通过法币来支付。他们计划增加加密货币支付工程,但表示出于法律、监管和会计原因,这并不是很容易实现的。

他们今天公开披露了该智能合同,其中只包含大约200行代码。安盛的代表Alexandre Clement表示:

这比预期的要复杂得多!航空交通数据不是100%可用,需要测试飞行资格,这对于潜在的商业伙伴来说是很难接受的。在传统的保险中,我们会为所有航班投保,并且由客户提供延期证明。

因此,情况似乎将发生逆转,保险公司自己确定存在航班延误或在其他情况下发生触发赔偿的事件,而不是客户必须证明他们应该得到赔偿。

这意味着,至少在一些简单的情况下,不再需要人员分析索赔,因此安盛公司可以节省不少时间。而对于客户来说,由于并没有人愿意提交相关证明,便利性可以大大提高。Alexandre Clement补充说:

我们的最小化可行产品(MVP)从2017年9月开始上线,从2015年开始调查这个项目。我们发现我们确实有一个叫做Etherisc的竞争对手。我们计划在未来扩展到航空以外的领域。我们相信参数保险是使用区块链公链的一个非常强大的用例。

他们的新版本于上周二发布,显示已经进行了33笔交易。

AXA, the insurance giant and the world’s second biggest financial company with total assets of one trillion dollars and yearly income of $6 billion, has launched an insurance product that utilizes smart contracts on ethereum’s public blockchain.

Called Fizzy, the product is similar to Etherisc, formerly known as FlightDelay, whereby individuals pay an insurance premium then automatically receive compensation if the flight is delayed for more than two hours.

The automatic part is dealt by the smart contract through “simple” if/then rules, while flight data is provided by third parties and linked through different means with the smart contract.

In Fizzy, the process is not yet automatic with the payment of the premium and of the compensation being in fiat. They plan to add crypto-payments, but say “it is not the easiest feature to implement for legal, regulatory and accounting reasons.”

They publicly revealed the smart contract today with it containing only around 200 lines of code. We asked Alexandre Clement, a representative from AXA, of his experience so far. He says:

“It’s a lot more complex than expected! Air traffic data is not 100% available nor clean, and the need to test the flight eligibility is hard to accept for potential business partners. In traditional insurance, we would insure all flights and it would be up to the customer to provide the proof of delay.”

The tables, therefore, have seemingly turned, with the insurance company itself establishing that there is a flight delay or in other contexts an event that triggers compensation, rather than the customer having to prove that they are owed compensation.

That means that in at least somewhat simple cases quite a few hours can be saved on the part of AXA through no longer needing to have personnel analyze claims. While on the part of the customer, convenience can be increased considerably as no one wants to have to file paperworks.

“Our Minimum Viable Product (MVP) is live since September 2017 and we began investigating this project in 2015. We discovered along the way that we indeed had a competitor called Etherisc. Others are coming (PolicyPal / Ergo for instance),” Clement says before further adding:

“We plan to expand beyond flights in the future. We believe that parametric insurance makes a very strong use case for the use of public Blockchain.”

Parametric insurance is an if/then type of insurance that rather than compensating for the entire loss says instead if event x happens then you receive compensation y.

It can be a very broad field and one can imagine for example, if the fire service updated their systems, that you could have a case of if house burns down then compensation of x, with the fire service so providing the data feed for fires.

Realistically, in that case it might be a bit more complex as you might have to establish whether half of the house is burned down or all of it, but arguably you can imagine in the future such granular data is provided or independent third parties specialize in doing so.

Obviously there would be a market for the example we provided, but is there a market for something like Fizzy? Clement says:

“Even though it’s always hard to say for a brand new product, we think there is a retail market today. If airlines get more and more customer centric and provide that kind of service automatically to their customers, the market opportunity for insurers will shift to Business to Business (B2B), with the insurer prodecting the airlines.”

Their new version was launched last Tuesday, and already shows 33 transactions, which we take it to mean 33 customers minus one or two test transactions by the team.

Indicating that there is at least some market, but with the smart contract linked to a trustable data feed, is there actually a role here for AXA?

Currently of course there is since this is all very much cutting edge, but as it develops and refines you would think this can be done without an intermediary third party except for the data feed.

Individuals, for example, could place a tiny portion of their savings in the smart contract and automatically receive some interest from revenue and profits. So providing a pot from which customers could automatically be paid off if the triggering event occurs.

That was the original idea which is now evolving to fit current reality, but as it becomes more refined it might serve to eventually take AXA out of the picture completely.

That’s only if they can not adapt, because being at the forefront of it might allow them to see how the market might evolve and therefore how they can provide a service in the new market.


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