# kaal:claim:3396542-001

**Claim.** Insurance underwriting as currently organized imposes significant costs and inefficiencies and erects high barriers to entry, and it provides no democratized access to the underwriting process or collective decision making on risk.

**Type.** empirical  **Support.** asserted

**Source quote.**

> The insurance market is dominated by a few core players and subject to high barriers to entry for new market entrants. In the current system, democratized access to the underwriting process and collective decision making on risk does not exist.

**From.** Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, *Decentralized Underwriting* (2019), I. Introduction, page 3

**Cite as.** Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Decentralized Underwriting (2019). SSRN: https://ssrn.com/abstract=3396542

**Verify.** sha256 of source PDF `ce2bda03a0b788ea3e7747f02c3c351ef7c808a41150d5cda34767bbe98800c0` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20et%20al.%20-%202019%20-%20Decentralized%20Underwriting.pdf

**Topics.** defi, risk-and-incentives, economics, decentralization

**Keywords.** insurance-underwriting, barriers-to-entry, market-concentration, decentralization

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