Aurora - transparent co-insurance for SMEs

该项目将开发一种开创性的保险方法，提供一个数字平台，为企业带来定制的、模块化的共同保险。客户可以从多个供应商实时获得报价，并捆绑成一个价格，其覆盖范围完全透明。该平台还将以机器可读的形式定义保险合同，从而大大提高承保事件/限额的清晰度，并允许客户和索赔处理员了解和询问产品的保险范围。这将允许更好地了解风险和定价，并有助于避免最近出现的Covid业务中断保险问题，这些问题导致必须通过法庭案件来确定该风险是否确实已投保。创新将使客户受益，减少中小企业每年在不需要的保险(Suited.Insuure)上花费的~2.162亿GB，并增强对其保险覆盖的信心，从而提高风险承担能力和更大的增长。它还将使理赔处理人员受益，更快地确定责任，导致迅速理赔并节省管理时间。我们的创新将使用PROLOG数据库，其中包含新的保单措辞部分和使用规则，将定义保险合同。这一方法提供了措辞清晰和灵活性，以确保正确的保险到位，避免了目前估计影响到约80%的业务的保险不足(Sedgwick)。这使我们与现有的最先进水平明显不同。虽然英国有一些在线经纪公司，但它们都依赖于现有的PDF政策措辞--其中大多数基于已逐渐转变的遗留系统，在某些情况下，这些系统已在数十年内进行了改造，导致措辞混乱或相互冲突，并无意中缺乏透明度。这反过来又导致了对覆盖范围的困惑，以及无法根据特定需求定制政策。目前的供应商只能实时引用最直接的案例，其他所有案例都会出现延迟。我们的共同保险平台将改变市场，帮助恢复消费者对保险的信心，为中小企业提供个性化的保险覆盖，并使一家总部位于英国的数字公司与国际现有公司竞争。

This project will develop a ground-breaking approach to insurance, delivering a digital platform that brings tailored, modular co-insurance to businesses. Customers can get quotes in real-time from multiple providers, bundled into one price, with full transparency over their cover. The platform will also define insurance contracts in a machine-readable form, resulting in much greater clarity on the covered events / limits and allowing both customers and claims handlers to understand and interrogate the cover on offer.This will allow for better understanding and pricing of risk and help to avoid instances such as the recent problems seen with Covid business interruption insurance that led to court cases being necessary to establish if this risk was actually covered.The innovation will benefit customers, reducing the ~£216.2mil SMEs spend each year on insurance they don't need (Suited.Insure) and enabling greater confidence in their insurance cover, allowing for increased risk-taking and greater growth as a result. It will also benefit claims handlers, with liability determined faster, leading to prompt claims settlement and saving administration time.Our innovation will use a Prolog database with new policy-wording segments and rules for usage that will define insurance contracts. This approach delivers clarity of wording and the flexibility to ensure the right cover is in place, avoiding the underinsurance currently estimated to affect ~80% of businesses (Sedgwick).This sets us markedly apart from existing state-of-the-art. While there are some online brokerages in the UK, all are reliant on existing PDF policy wordings -- the majority of which are based on legacy systems that have been transformed incrementally, in some cases over decades, leading to confusing or conflicting wording and an unintentional lack of transparency. This in turn drives confusion over coverage and an inability to tailor policies to the specific need. Current providers can only quote the most straightforward cases in real-time, with delays occurring for all other cases.Our co-insurance platform will transform the market, helping to restore consumer confidence in insurance, empowering SMEs with individualised insurance cover, and bringing a UK-based digital company to compete with international incumbents.