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Judging

Judges

  • Mukta Patel: Senior Legal Counsel, Simply Business
  • Nick Johnson: Core Developer, Ethereum Foundation
  • Vladimir Tosovic: Business Development, Etherisc
  • Prof. Will Knottenbelt: Director of the Imperial College Centre for Cryptocurrency Research and Engineering
  • Yiseul Cho: Managing Director, Zen9
  • Nicholas Berry: Partner, Norton Rose Fulbright LLP

General guidelines

The theme of this hackathon is the application of blockchain technologies in the insurance industry.

All entries must make use of blockchain technologies. Entries must serve some purpose to the insurance industry. This includes the broader aim of insurance: protecting people/businesses/governments from unexpected financial loss. Entries that stray too far away from these principles or that provide little use to the insurance industry will not impress the judges.

Entires could relate to any part of the insurance eco-system, for example:

  • Underwriting: taking on risk in return for money (a premium) and the process of calculating premiums and the terms of the insurance contract.
  • Insurance distribution: the interaction between buyers and sellers of insurance.
  • Customer service: the experience of buying and benefiting from insurance protection.
  • Claims handling & loss adjusting: the process of validating insurance claims and helping policyholders get back to the same position they were in before a loss.
  • Fraud prevention: stopping false claims which amount to £1.3bn a year in the UK alone.
  • Risk management: ways to reduce the likelihood of an insurable loss happening in the first place.
  • Alternative Risk Transfer: other techniques to provide entities that face financial risk with coverage and protection.

Notes

  • Code does not have to be a SmartContract.
  • If you are building on top of existing service/smart contract, please make it clear which part is built by your team during hackathon.

Examples

Good

  • I am building xx insurance as a smart contract.
  • I am building a new insurance product which will benefit xxx blockchain/smart contract service (as long as there are any code to back up your hypothesis)

Bad

  • The project has nothing to do with Insurance.
  • The project has no code at all (mock-up UI is not counted as code).
  • The project does not articulate why it uses blockchain.

Border lines

  • I already have an insurance smart contract that I have built and I want to build a mobile interface through mobile wallet (e.g. status.im) = It's possible but prepare for the judges to be underwhelmed unless the mobile offering experience will enhance the user experience significantly.
  • I am building a gambling dapp. Isn't insurance the same as gambling? = Insurance and gambling are very different but they do both rely on some similar concepts, for example, understanding probability. A project that sits in the gray area between insurance and gambling is acceptable as long as the aim is still for protecting people/businesses/governments from unexpected financial loss and not, for example, a way for people to profit from their own or other people's losses. You will get extra credit if you clearly state the limitations of this approach and acknowledge the difference between insurance and gambling.
  • I am going to use R3 Corda = R3 Corda or other DLT solutions may not necessarily be regarded as a blockchain. However, we are breaking the block hence some variant technology will be acceptable.