Tilt Re-Insurance Platform Introduction
Reinsurance is an insurance contract for the purpose of taking over all or part of the liability under the insurance contract acquired by the insurer, and is a type of liability insurance.
For reinsurance at this time, the first insurance is called the original insurance. Reinsurance refers to the transfer of part of the risk to other insurers and the difference between insurance premiums when all or multiple contracts are concluded that the original insurer is difficult to bear alone, or when multiple contracts ubiquitous in one place in the fire insurance area are concluded. Reinsurance and original insurance are insurances of the same nature as they bear the same risks economically, but reinsurance is a liability insurance, whether it is personal insurance that was not at all. The time when the re-insurer bears the liability for compensation is when the original insurer bears the debt in the event of an insurance accident. Therefore, it is irrespective of whether the original insurer can transition into reality.
Tilt Re-insurance platform is a B2B service which does the function of a bridge to the other remaining services Tilt provides. Furthermore, it is not surprising that Tilt is offering the re-insurance service to other companies. There are several reasons to this.
First, one of Tilt’s service, “Tilt Prediction Market” is closely related to re-insurance. As you all know, insurance refers to a hedge of events that might happen such as natural disasters or circumstances by human. By using the prediction market, users and institutions are able to come up with a predictable result of the events which can be applied to calculate the budget of a monthly insurance cost that will be charged to the user.
Second, Tilt core team members are professional in general crypto related issues. Developers, entrepreneurs and managers are included to develop Tilt ecosystem. Security in terms of crypto market is highly essential and insurance services are one another way to secure the asset of all participants in the ecosystem.
For these reasons, Tilt will be servicing re-insurance platform to the institutions who are aware of huge charges when a disaster happens. Further details will be updated through the development stage.
Check out our SNS channels for further information and get ready to join the Tilt ecosystem.
