Parametric Insurance for the Crypto market

Although new dimensions and innovations are reshaping the insurance industry, the fundamental reason for insurance has remained constant over time. In contrast to traditional insurance, which covers assets, parametric insurance covers parameters, commonly referred to as indices. When a specific occurrence or quantifiable condition occurs, such as a flight delay, an earthquake, a specific hurricane, or even risk associated with cryptocurrency markets, parametric insurance kicks in. Speaking of cryptocurrencies, although they are still in their infancy, they are now among the top risks in the risk portfolios of the majority of insurance companies. Points of discussion: 1. Crypto market risk is a new arrival within the risk portfolios of insurance companies. Can you tell us a bit more about this type of risk and why do we need an insurance coverage to protect our wallets? 2. Smart contracts and parametric insurance seem to be a natural fit. How to see this type of insurance to be most relevant to suit any sort of blockchain and crypto related risks. 3. As blockchain and crypto is a new technology and there are many unknowns, from the opportunity side such insurance is one of the priorities in the risk portfolios of the majority of insurers. But considering the uncertainty surrounding this, how do see insurers integrating such risk within their existing practices. Speaker Bio: Edward Ryall is a co-founder of Neptune Mutual. He is an angel investor in deep tech startups and is an Adjunct Professor of Entrepreneurship at KEDGE Business School in Paris.  Edward is a Chartered Engineer and holds an MBA from SDA Bocconi, and a diploma in Corporate Governance from the Institute of Directors.