# Insurance underwriting

`kaal:entity:insurance-underwriting`

**Status.** derived

This node is assembled mechanically from the 5 claims that carry the concept tag `insurance-underwriting`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

5 claims across 2 works, 2019 to 2021.

**2019**

- [3396542-001](https://wulfkaal.github.io/claims/3396542-001) [empirical/asserted] -- 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.
  > 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.
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Decentralized Underwriting (2019). SSRN: https://ssrn.com/abstract=3396542
- [3396542-002](https://wulfkaal.github.io/claims/3396542-002) [failure/asserted] *(failure mode)* -- In the traditional insurance structure, financial distress or bankruptcy of an individual underwriter harms consumers, who lose the protection of their insurance contract and must seek new coverage.
  > Financial distress or bankruptcy of an individual underwriter affects consumers who may no longer be protected by the insurance contract and have to look for new coverage.
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Decentralized Underwriting (2019). SSRN: https://ssrn.com/abstract=3396542
- [3396542-003](https://wulfkaal.github.io/claims/3396542-003) [design/argued] -- The authors propose that insurance underwriting be operated by a Decentralized Autonomous Organization in which cryptocurrency tokens function as claims on the future cash flows of the underwriting business.
  > Insurance products can be optimized with emerging decentralized technology. We propose the use of cryptocurrencies as claims on future cash flows of an underwriting business operated by a Decentralized Autonomous Organization (DAO).
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Decentralized Underwriting (2019). SSRN: https://ssrn.com/abstract=3396542
- [3396542-009](https://wulfkaal.github.io/claims/3396542-009) [design/argued] -- The design requires underwriters to stake or encumber tokens against each policy they underwrite, and those encumbered tokens serve to secure the underwriters' promises.
  > Fourth, the design requires the underwriters to "stake" or "encumber" an appropriate number of tokens against each policy they underwrite. These tokens in effect serve to secure the promises of the underwriters.
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Decentralized Underwriting (2019). SSRN: https://ssrn.com/abstract=3396542

**2021**

- [3995709-025](https://wulfkaal.github.io/claims/3995709-025) [failure/argued] *(failure mode)* -- Even if code review and audit firms did engage in thorough insurance underwriting and guarantees for their clients, the remedy would still fail because those firms would remain subject to the flawed and centralized legacy insurance market, which is itself dominated by a cartel of a few core players.
  > Even if code review and audit firms were to engage in a more thorough insurance underwriting and guarantee process for their clients, they would still be subject to the flawed and centralized legacy insurance market.
  Wulf A. Kaal, How DAOs Optimize Open-Source Code Reviews and Create Open-Source Standards (2021). SSRN: https://ssrn.com/abstract=3995709

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/insurance-underwriting.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.