Autonomous insurance network - automated insurance for IoT devices and a platform for insurance innovation built around data.
Insurance pools. PMs will deal aspects of the insurance pool:
1. Capital PM (Predicts how much capital will be raised to support the pool)
2. Premium PM (Predicts the size of the premium the pool will amass)
3. Profitability PM (Predicts the loss ratio or some other profitability measure of the pool)
Market operation.
1. Diversity (The participants have different information on which they base their prediction)
2. Independence (The participants make their predictions independently of other participants’ opinions)
3. Decentralisation (The market is decentralised rather than expert-opinion led)
Algorithms.
1. Member score (Determines member rank and weight in overall market prediction. It’s a measure of prediction success)
2. Reward function (Determines the reward granted for successful predictions)
3. Value function (Determines the value of the whole prediction market)