RiskStream Launches Collaborative Reinsurance Tool
July 6, 2023
dRe is a platform that calculates parametric loss for severe storm catastrophe transactions, using RiskStream’s Canopy platform, the industry’s first reusable blockchain framework. It was launched recently by The Institutes RiskStream Collaborative, and Arbol, a climate risk coverage platform, as a tool for reinsurance. DRe activates smart contracts using data from dClimate and Chainlink’s decentralized data network. It also automates claim initiation, notifications and loss calculation, hopefully resulting in fast payouts and aid in redevelopment post-damages. The platform employs technologies by Kaleido. The CEO of Arbol says it will fundamentally reshape parametric reinsurance, and claims it paves the way for adaptations to catastrophes other than storms.
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