For insurers and reinsurers
Premiums in, claims out, reinsurance settled — programmable, and in bank money.
Payouts released on a verified trigger; cessions and recoveries settled across currencies at the same instant.
The pain today
Claims float, weeks of bordereaux settlement, and a stablecoin temptation.
A parametric or approved claim still waits for a wire in business hours. Reinsurance settlement is a quarterly reconciliation exercise across currencies and correspondents. The industry has tried stablecoins to fix both, and been stopped by the money not being bank money.
The primitive that removes it
Conditional release, and payment-versus-payment. A claim is released when the trigger is verified — an event, an adjuster's approval, a date — from the insurer's own bank, final at any hour. Cessions and recoveries between cedant and reinsurer settle both sides at once on two central banks' ledgers, without the correspondent chain.
What stays, what changes, what never happens
What stays the same
Your policies, your claims process, your reinsurance treaties, your banks, your solvency reporting. A tokenized deposit is still a bank deposit; its treatment under solvency rules is confirmed by counsel in each regime.
What changes
A network account at your bank; the trigger for each payout encoded as a rule the policy engine enforces; reinsurance counterparties settling on the rail.
What you never take on
A stablecoin treasury, a custodian, a reserve, blockchain expertise. You are a participant; your bank is the issuer.
The board question
“Is a tokenized deposit an admissible asset under our solvency rules?”
It is a bank deposit in a new record format, so its treatment should follow the deposit's — and that is a counsel opinion, obtained per regime before go-live, not an assertion. The architecture is designed to preserve the deposit relationship precisely so that this question has a familiar answer.
What it costs
Participant API subscription USD 2–25K a month by accounts and volume; settlement fees under the published formula only on payments to other institutions. Where an insurance group owns a bank, that bank can be an issuer on issuer terms. Indicative; your figures go in the joint business case.
See the full fee scheduleBring one claims flow to the sandbox.
A parametric payout and a reinsurance cession, drawn like the follow-the-dollar explainer, settled on the reference network with your treasury and your reinsurer in the room.