During the demo, Symbiont will execute a live catastrophe swap contract between two hypothetical parties, which will be recorded on its distributed ledger. The demo will then follow the lifecycle of the swap, showing how Symbiont's proprietary smart contract technology handles various scenarios--including the trigger of a payment pursuant to the swap, and how the technology handles automatic updates when new industry loss estimates become available.
Participants in the demo will view a side-by-side depiction of the screens of both parties to the hypothetical swap. This format allows participants to track what each party sees at all times, and will show automatic updates to the ledger when events meet pre-defined triggers.
Symbiont is the only smart contracts platform currently capable of providing such service to the insurance industry. It provided a version of its technology for a pilot catastrophe swap in
Symbiont's smart contracts platform can automate many administrative functions currently performed by the insurance industry, thereby reducing costs and the potential for disputes. Symbiont also expects its technology to foster new business opportunities for insurers as the industry simplifies complex businesses processes.
To register, please send an email to [email protected]. Please include your name, company name, title and contact information. Symbiont will review all requests and send approved participants (from the insurance industry only) the instructions for joining the live WebEx demo.
Symbiont is bridging the gap between the blockchain ecosystem and
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