etherisc-legacy/flightdelay-legacy

FlightDelay Project

flightdelay-legacy's Issues

make properties public

The properties of the main entrypoint FlightDelayNewPolicy are not marked as public. This is not a problem but makes transparency / debugging unnecessarily hard with current tools like remix or etherscan.

Use `Ownable` from Zeppelin instead of custom `Owned` (and use usual event)

You have a custom Owned base contract that implements some of the standard Ownable logic that one usually imports from the Zeppelin library. The transferOwnership method could still add custom functionality by overriding and calling super.transferOwnership. By importing from Zeppelin you would not only be able to import upstream improvements more easily but also make sure you have standard features, e.g. here you do not invoke the OwnershipTransferred event.

Etherisc Proposal: Extend capabilities of "Message Types" of a "Risk Transfer Order" to be able to carry metadata about the risk submitted in the "Risk Transfer Order"

Etherisc Proposal: Extend capabilities of "Message Types" of a "Risk Transfer Order" to be able to carry metadata about the risk submitted in the "Risk Transfer Order"

 

Abstract

Decentralized Insurance Protocol aims to provide a generic mechanism to transfer risk. Submission of new risk for pricing (for example reinsurance for Flight Delay, or Hurricane insurance) is the first step in the risk transfer process. Currently, Etherisc does not provide a standardized way to submit the risk for transfer and describe the risk using industry-standard terms. For example, reinsurance risk capital providers will be able to provide a quote as long as the risk submitted contains minimum amount of information about the submitted risk, including class of insurance, category, location of the risk, size of the opportunity and other information.

RMS, the global catastrophe risk modeling and analytics firm, and Cambridge Centre for Risk Studies (CCRS) have developed an open source data schema and definitions to manage USD 500 trillion of insurance exposure. The Data Definitions Document v1.0 (“DDD v1.0”) contains the proposed schema and definitions for 14 defined classes of insurance business (e.g. casualty liability, specialty lines, life and health, etc). The aims and objectives of this project as related to the insurance industry, were to:

1. Provide a more comprehensive and standardized framework for monitoring and reporting exposure enterprise-wide and function as a system of record, for risk managers, brokers, consultants, and analysts;
2. Improve interchanges of data between market players to refine risk transfer to reinsurers and other risk partners, reporting to regulators, and exchanging information for risk co-share, delegated authority, and bordereau activities;
3. Apply accumulation risk model scenarios for classes of business that currently have less well-developed models available for them;
4. Support clash model analysis for scenarios that impact multiple lines of insurance

As Etherisc is in the process of developing a mechanism for receiving submissions of risk transfer applications and making this information available to protocol users for further transfer to Etherisc-native risk pools managed by Keepers, tokenized risk pools, and very importantly - to off-chain risk capital providers - for example London market (including Lloyds syndicates), Bermuda market, and others. I propose to base the Risk Transfer Order metadata on the data schema proposed in the DDD 1.0 and Market Reform Contract recently adopted by participants of the London Market. It is expected that the Data Schema has a good chance of becoming adopted by the insurance industry, and utilizing this schema may result in higher Etherisc protocol utilization by insurance startups and insurance brokers  while leveraging an open source schema which originates from the inside of the insurance industry.

 

Deliverables

Deliverables will be submitted in several phases:

Phase 1:

1. Taxonomy for one class of insurance exposure (e.g. “Personal Lines”)
2. Specification for possible implementation of metadata fields as an extension of the Risk Transfer Order Message Types
3. Prototype/Mockup of a Risk Transfer Order UI
4. Example of an actual data submission (standard Risk Transfer Order + metadata fields)

 

Phase 2: Product/market fit validation of the Phase 1 deliverables

1. Interviews with at least 5 insurance startups/brokers/agents who may be interested in submission of Risk Transfer Orders to the Etherisc network
2. Identification of the classes of insurance business where the gap between the demand for quoting new risk and supply of quotes is likely to be the highest
3. Recommended plan and scope of work for go-to-market strategy which is likely to result in on-boarding and success of early adopters for the implementation of Etherisc protocol with the support of Risk Transfer Order+Metadata

 

Phase 3: Similar deliverables to Phase #1 for each of the remaining 13 classes of insurance business

Phase 4: Mapping of the metadata model used for Risk Transfer Orders for Etherisc to other existing data models currently in use in the market (e.g. ACORD P&C XML and other ACORD formats, Lloyds Market Reform Contract) to explore the integration of various systems used

Phase 5: Implementation and scaling industry integrations. Technical documentation, thought leadership (blog posts, briefs, product value proposition, guided workflows, support documentation) describing the details of the Etherisc metadata model and its interaction with other models in the market with focus on potential integration with existing software used by the insurance industry professionals to submit and communicate new risk for placement and renewals/endorsements. Delivery and support of go-to-market, thought leadership and integrations

Motivation

Several jurisdictions and market participants have indicated the need to obtain insurance or reinsurance capacity, especially for the new  types of insurance products that are currently not common in the risk transfer market for online quoting. For example, there is no way to submit the risk online, nor receive a quote for reinsurance for flight delay, or reinsurance for parametric hurricane insurance. For such products to appear on the market sooner, a standard mechanism of data encoding and transfer among various market participants is needed. This project will explore which framework works best for the stated purpose and propose a workable solution.

Desired benefit (immediate effects)

If approved, in the short-term this project may result in:

• Enhanced understanding of requirements for insurance quote submission
• Ability to  estimate the amount of time and effort needed to extend the above metadata model to priority classes of insurance
• Identify priority classes of insurance for development in Phase 3

 

Desired effect (longer-term effects)

If approved, in the long-term this project will:

• Accelerate the Etherisc protocol adoption by the industry
• Validate the product/market fit against the needs and expectations of the participants in the risk transfer industry (insurance startups, brokers and corporate risk managers)
• Define a possible path for onboarding a significant amount of risk into the network 

Grant Size

Phase 1: 4.7 ETH or 9,750 DIP tokens

Phase 2: estimate to be provided after Phase 1 is complete

Phase 3: estimate to be provided after Phase 1 is complete

Phase 4: estimate to be provided after Phase 1 is complete

Phase 5: estimate to be provided after Phase 1 is complete

 

Development Timeline

Phase 1: to be completed by COB within 5 business days upon approval of the proposal. The actual time it takes to complete this phase will be tracked on an hourly basis and will be used to develop an estimate for completing the rest of the project.

 

Development Team

Role	Member	Availability	Github/LinkedIn
Individual contributor	Elena Korjavina	Part-time	www.linkedin.com/in/evkorjavina

 

Supporting Team

N/A

 

Development Approach

Develop a prototype for one class of insurance exposure and use findings to develop the timeline to repeat the process for the remaining classes of business and revise the approach, if necessary.  

 

Team Background

Professional client services / program management / content strategy in the RegTech and public accounting industries

 

Qualifications and Relevant Prior Experience

Team manager – Workiva, Inc.

Engaged in XBRL taxonomy development based on US and international accounting and reporting principles

Participated in R&D efforts to explore further automation of SEC compliance and XBRL reporting solutions

Provided effective program management in a dynamic deadline-driven environment

Developed product content to meet the organization’s strategic objectives

Enabled customer adoption of the cloud reporting solution

Developed internal and customer training programs related to XBRL US GAAP and IFRS taxonomy use

 

Senior Financial Analyst – PG&E Corp.

Developed analyses of business performance results, earnings drivers, long term forecasts, and budgets to support management in decision making

 

Senior Associate – PricewaterhouseCoopers, LLP

Provided project management support for all audit phases, including planning/budgeting, risk assessment, internal controls and financial audit fieldwork, SEC reporting, and completion/wrap-up

Identified, researched, resolved, and documented various technical accounting issues to ensure proper accounting treatment and financial statement disclosure

 

*** Disclosure ***

The applicant is related as a family member to a current Etherisc team member (Renat Khasanshyn, an Etherisc co-founder).

The access database can be changed from outside.

https://etherscan.io/tx/0xb0705844b4b6aef522a8adf83e0e257578f577597771d8255241dc6d240ade54

See the transaction I've made?
I initially wanted to try giving myself a permission to withdraw the funds, but that seems too hard to do and I'm not into stealing coins (I did manage to change the database though).