Uno Re Announces Strategic Partnership with Parsiq
Uno Re is thrilled to announce its strategic partnership with Parsiq, a blockchain monitoring and workflow automation platform.
What is Parsiq?
Parsiq is a blockchain middleware that allows partners to monitor smart contracts and smart contract addresses across major blockchain networks such as Polkadot and Ethereum, and create streams of data delivered to off-chain systems in real-time.
Parsiq technology will be an essential building block in the future of decentralized insurance and reinsurance by contributing to the following use cases:
- Monitoring insurance and reinsurance smart contracts
- Risk trading notifications and updates
- Price tracking of insurance and reinsurance protocols
- Claim and compensation data delivery
- Market intelligence and scoring
Uno Re is the market leader in the tokenization of reinsurance via the creation of individual staking pools wherein investors invest their capital and earn ROI based on paid insurance premiums minus risk claim payouts.
Parsiq smart triggers are workflow automations created at the genesis of reinsurance staking pools which can be structured as “alerts” or “IFTTT for blockchains.” Parsiq middleware delivers accurate and real-time streams of data related to events as they occur, ensuring smart contracts function effectively while also creating arbitrage opportunities for risk traders.
Additionally, Parsiq monitors smart contracts and service provider wallets with advanced tools, improving system safety and reliability for businesses and users.
With Parsiq, Uno Re will now be able to track reinsurance claims of its insurance partners. Whenever the claims — be they excess of loss or stop loss — exceed a specific limit, the smart trigger on the platform will automatically notify Uno Re of those claims to be processed accordingly.
Uno Re will utilize Parsiq to analyze the price fluctuation of our insurance protocols and their tokens and enable events triggering liquidation trades of the stable coins when the value dips down to a certain level.
Additionally, Uno Re will also leverage the market intelligence features on Parsiq, which allows us to record customized events on our dashboard and create advanced analytics from the data gathered for our investors and insurance partners, enabling us to better forecast risk trends in the DeFi market.
“Our collaboration with a leading blockchain monitoring and workflow automation protocol like Parsiq provides us with a toolset to make improvements in 3 major areas, automated reinsurance claims, risk trading, and analytics/data for our investors and innovators. We look forward to working closely with Parsiq to further achieve our goal of bridging the gap between traditional and decentralized reinsurance and insurance space.”
-Sujith Sizon, CTO and Co-founder of Uno Re
“The first time we heard about Uno Re’s vision to democratize access to risk pools and risk trading, we wanted Parsiq to be a part of it. We were even more excited to learn that Uno Re will launch on Polkadot, and with our recent Polkadot integration we are well positioned to contribute immediately to Uno Re’s data needs.”
-Tom Tirman, CEO and Co-founder of Parsiq
About Uno Re
Uno Re will be the world’s first decentralized reinsurance platform powered by Polkadot, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. The platform will break barriers to entry for the retail investor by doing away with the historic pre-requisite of absurdly high capital generally needed to invest into the market while also introducing much-needed transparency into the industry as a whole. Uno Re will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the Uno Re ecosystem.
About Parsiq
Parsiq is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications. Parsiq technology is a proprietary ParsiQL programming language that allows users to monitor and interpret an endless stream of data on the blockchain; thus, it’s possible to monitor traders and ordinary users’ wallets.
📰 INFO
https://unore.medium.com/uno-re-announces-its-partnership-with-parsiq-f50d9d48078d
