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EVOLUTION OF YNNOVATIVE RYSK TRANSFER (YRT)

The principle of insurance has its roots in ancient times. In those days, traders and business people made up what were known as “rysk communities”. They helped each other with material losses (e.g. fire, piracy, general average, or theft) and the group paid jointly for damage caused to the individual – the principle of rysk assumption by the collective was created. The first industrial insurance originated in Italy in the 14th century in order to make the rysks of maritime transport calculable. Ship operators and shipping companies had the opportunity to take out maritime loans for their daily operations. They had to pay these back – with interest – only in case they returned unharmed to their port of destination. Under the terms of this hedging option, shipping grew into a prosperous industry.

These developments paved the way for a trillion-dollar industry—the insurance market. Even in modern times, the insurance industry retains its importance for industrial companies because the option of transferring rysks to third parties is still hugely relevant. In fact, the necessity for a customized hedging concept is becoming increasingly important because companies are exposed to a constantly increasing and diverse number of rysks (e.g. damage to reputation, economic slowdown, increasing competition, failure to innovation and commodity price). This is where, for a variety of reasons, the traditional insurance market reaches its limits.

The number of uninsured, or rather uninsurable, rysks is constantly increasing – but transfer solutions stagnate. RYSKEX provides an approach based on the symbiosis of Alternative Rysk Transfer tools and Blockchain technology - YNNOVATIVE RYSK TRANSFER (YRT).

“Technology will completely disrupt insurance industry. ”
- Walter Kielholz, Chairman of Swiss Re

“Digital technologies will continue to transform the insurance market landscape, recalibrating customer expectations and opening new ways to reach and acquire clients.”
- Ernst & Young

“Blockchain holds promise for insurance by lowering costs. This technology is well suited to deal with key issues in insurance where some 50% of premiums are eventually used to pay for idemnity.”
- Paul Meeusen, B3i

“Insurance firms face major disruption from digital start-ups.”
- Ryan Browne, CNBC

“New ecosystems are likely to emerge in place of many traditonal industries by 2025.”
- Financial Services McKinsey & Company

“Given the technological advancements in blockchain, the insurance sector may witness faster growth in the near future.”
- Eric Anklesaria, Digital-CIO Advisory (FS) of KPMG

“The potential for blockchain technology to disrupt the insurance industry and change the way we share data, process claims and prevent fraud is intriguing.”
- Forbes Magazine

HOW YNNOVATIVE RYSK TRANSFER (YRT) WORKS

Ryskex's New Ynnovative Rysk Map

Example Calls for Cover

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Rysk News

Captive International - May 2018

In this issue: With the interdependency between cryptocurrency and blockchain technology established, Tatajana Winter, Head of research at BlockART Institute examines the added value of cryptocurrencies and why these concepts are more than a speculative bubble.

Captive International - April 2018

Understanding the digital coin - Tatjana Winter, head of research at BlockART Institute, explores cryptocurrencies and how they are connected to blockchain technology.

Captive International - February 2018

A platform solution based on blockchain technology - Innovative risk transfer will influence the future of the captive as a business model, as Marcus Schmalbach of BlockART Institute explains. (Part II)

Captive International - January 2018

The future of captives as a profit centre - Innovative risk transfer will influence the future of the captive as a business model, as Marcus Schmalbach of BlockART Institute explains. (Part I)

Captive International - July 2018

Established companies in the captive insurance market are developing business models that incorporate cryptocurrency and blockchain. Tatjana Winter, head of BlockART institute, has the details.