Uno Re to integrate PARSIQ technology
Together with Uno Re, we are about to embark on another great integration journey, to provide improvements in 3 major areas in their platform.
What is Uno Re?
Uno Re is building the world’s first decentralized reinsurance platform powered by Polkadot, allowing traders to trade and invest in “risk”, which in turn can be highly profitable. Historically, only large investors with sizable capital have been able to enter markets like this. Through crypto and decentralization, Uno Re is able to offer retail investors access to this previously closed investment opportunity, along with allowing them to propose new insurance products.
Through the unique immutable ledger system of blockchains, transparency is now at the center of the platform, allowing investors and users to invest with confidence.
Uno Re is the market leader in the tokenization of reinsurance via the creation of individual staking pools wherein investors invest their capital and earn ROI based on paid insurance premiums minus risk claim payouts.
Reinsurance is also known as insurance for insurance companies.
Reinsurance is the practice whereby insurers transfer portions of their risk portfolios to other parties to reduce the likelihood of having to pay a large obligation resulting from an insurance claim.
The option to trade in this highly profitable market is currently controlled by a few large corporations — Uno Re will be a first-of-its-kind platform, allowing the average user to reap the rewards of trading and investing in this risk.
Uno Re + PARSIQ
With PARSIQ, Uno Re will now be able to track reinsurance claims of its insurance partners. Whenever the claims — be they excess of loss or stop loss — exceed a specific limit, the smart trigger on the platform will automatically notify Uno Re of those claims in order to be processed accordingly.
Uno Re will utilize PARSIQ to analyze the price fluctuation of our insurance protocols and their tokens and enable events triggering liquidation trades of the stable coins when the value dips down to a certain level.
Additionally, Uno Re will also leverage the market intelligence features on PARSIQ, which allows us to record customized events on our dashboard and create advanced analytics from the data gathered for our investors and insurance partners which would then enable us to better forecast risk trends in the DeFi market.
PARSIQ technology will be an essential building block in the future of decentralized insurance and reinsurance by contributing to the following use cases:
- Monitoring insurance and reinsurance smart contracts
- Risk trading notifications and updates
- Price tracking of insurance and reinsurance protocols
- Claim and compensation data delivery
- Market intelligence and scoring
“Our collaboration with a leading blockchain monitoring and workflow automation protocol like PARSIQ provides us with a toolset to make improvements in 3 major areas, automated reinsurance claims, risk trading, and analytics/data for our investors and innovators. We look forward to working closely with PARSIQ to further achieve our goal of bridging the gap between traditional and decentralized reinsurance and insurance space.” -Sujith Sizon, CTO and Co-founder of Uno Re
“The first time we heard about Uno Re’s vision to democratize access to risk pools and risk trading, we wanted PARSIQ to be a part of it. We were even more excited to learn that Uno Re will launch on Polkadot, and with our recent Polkadot integration we are well positioned to contribute immediately to Uno Re’s data needs.” -Tom Tirman, CEO and Co-founder of PARSIQ
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. The platform will break barriers to entry for the retail investor by doing away with the historic pre-requisite of absurdly high capital generally needed to invest into the market while also introducing much-needed transparency into the industry as a whole. Uno Re will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the Uno Re ecosystem.
PARSIQ is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications. PARSIQ technology is a proprietary ParsiQL programming language that allows users to monitor and interpret an endless stream of data on the blockchain; thus, it’s possible to monitor traders and ordinary users’ wallets.