Uno Re and Aragon Partnership

Uno Re’s wider vision is to create a simplified platform that would allow a new age of insurance providers to introduce innovative insurance products tailored to the community’s needs, as well as offering retail investors the chance to make returns using risk pools and traders to buy and sell risk instruments.

For traders, Uno Re is approaching crypto trading communities who may be interested in trading reinsurance asset classes on their platform. Similar to how markets trade shares of a company stock, risk trading is trading in shares of an insurance portfolio.

The Aragon Association is committed to the decentralization of traditional power strongholds, open markets and the freedom of capital, as set out in its Manifesto. Uno Re’s values and vision align perfectly with this commitment and they are super excited to explore how they can collaborate on technology and strategy to develop a proof of concept.

Decentralized Reinsurance

Uno Re was founded on the principles of transparency and decentralization. Built with the needs of our community in mind, they are looking to design a reputation-based DAO to perform various integral tasks within the Uno Re ecosystem. These actions include the assessment of reinsurance portfolios, the automation of decisions based on claims, platform improvements and dispute resolution. A DAO would eliminate the influence of any intermediaries to execute the above actions, thereby truly decentralizing the platform’s decision-making body.

In pursuit of the above, Aragon is delighted to partner with Uno Re to develop a DAO platform with resilient peer-to-peer governance and a role-based management structure designed keeping the needs of the community in mind.

Aragon will also work on the concept of a reputation-based voting mechanism with different user categories – claim assessors, community members, risk underwriters who can vote on proposals, and token holders.

Signifiant mechanisms

With this integration, it will be possible for the assessors or actuaries that are part of the governance body to perform the following vital mechanisms:

• Collaboratively manage claims or assess risk.
• Adjudication and management of reinsurance claims.
• Determine the reasonable risk charge for the risk cover and a way for it to adjust over time.
• Govern token allocation according to Uno Re’s token model.
• Automate decisions/voting for activities like evaluation of users who are interested in investing in reinsurance risk pools, proposing new products on the platform for innovators, and performing legal underwritings.

Dispute Resolution Management System

Additionally, Aragon will explore how a dispute resolution management body composed of experts could resolve any disagreements that arise from a claim decision, validation of insurance portfolios, etc.

“By establishing a DAO, handling claims becomes much more efficient –  a group of assessors evaluating the registered claims and taking decisions based on voting mechanisms replaces traditionally structured organizations where the decisions are put into the hands of a singular authority – making our ecosystem a truly decentralized one.
This blockchain-enabled organization solves potential issues of legality, security, and management structure by making the whole process of governance transparent as the rules in the form of smart contracts and subsequent actions are recorded on the secured blockchain ledger, which cannot be altered.”

“Built for the community, Uno Re understands the significance of a community-driven DAO. We are incredibly happy to join hands with Aragon who will support us in developing Reputation-based Decentralized Autonomous Organization (DAO) to perform various integral tasks within our ecosystem, making it one that is truly decentralized.” – Sujith Sizon, CTO and Co-Founder of Uno Re

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.

📰 INFO

https://blog.aragon.org/uno-re-pioneering-the-reinsurance-dao/