Title: Insurance P2P
00016 | January 2020
Alex Garcias, Dr.
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New technologies like vehicle automation will transform the insurance industries. When automation is complete, crashed vehicles are unlikely. The same is true of other human activities that today pose a risk to people, businesses and government such as life insurance, work insurance, health insurance, home insurance. The fact is that insurance industries will be transformed by new technologies.
Considering the transformation of insurance industries by IT control architecture and technology such as IoT, Legal smart Contract, Blockchain, AI can be controlled with great precision. Risk control with precision is a big dream of the insurance industries.
If new technologies can help the insurance industries to control the risk with better precision, then the same can be used to build a insurance P2P Ecosystem.
The goals of this research is study the Insurance P2P and application in the word of facts to contribute to no hunger, no poverty.
Motivation for research
Growing global economy;
Created decentralized system to control rights, duties and solve conflicts in insurance industries;
How to use Legal Smart Contract, Blockchain, Internet of Things, Machine Learning, IA to control rights, duties and resolve conflicts without intermediaries to build a P2P Secure ecosystem?
Data and methodology
- Build the ecosystem to test the argument;
- Data and methodology about the ecosystem informatics system in Yellow Paper;
Literary research aims to know the sector and the chain applied to insurance. After knowledge of sectoral analysis, whether technologies in the context of argument can be used to control rights, duties and resolve conflicts without intermediaries in the application of insurance industries.
Knowledge is the construction of a new ecosystem in the micro-system to test the argument about P2P insurance.
Is it possible to create an ecosystem to control rights, duties and resolve conflicts without interrupting intermediaries with insurance sectors?
Is person-to-person insurance possible?
The use of new technologies as Blockchain, Legal Smart Contract, Internet of Things, AI is able to control rights, duties and resolve conflicts without intermediaries. The main factor in the insurance industries is the risk.
With the new technology it is possible to know the risk and make a precise agreement considering all risks that involve the object of insurance. All the work done by insurance companies with complex and giant structure can be replaced by autonomous system.
The autonomous system can control the insurance equation and allow everyone to participate in this market as an investor or entrepreneur.
The autonomous system can reduce price of the insurance and provide profit for all insured, since the P2P economy works with profit sharing and social capital for any human activity in local or world trade.
Research is an important tool for testing the argument and creating a P2P secure micro-system to observe behavior and resolve conflicts before starting the solution for the macro-system.
São Paulo, Brazil, January 15, 2020.
Alex Garcias, Dr. Attorney – research
CEO – Alex Garcias Law Firm International