Resolvr

PROBLEM: Reinsurance premium processing is extraordinarily inefficient – settling in T+180 days.

Premiums must be received, custodied, and remitted at each step in the risk-transfer chain between cedents, brokers, and reinsurers.
Each party maintains a separate ledger that must be manually updated and reconciled with counterparties at each step in the chain.
Reinsurance contracts are complex, with many participants entitled to a portion of the premiums. Each broker or intermediary is likewise entitled to a commission or fee. Accounting for, and allocating, these payments at each step in the risk-transfer chain increases delay and often introduces errors and uncertainty.
Coordinating these payments between participants via email is cumbersome and costly, sometimes leading to conflicts.
International transfers require correspondent banking relationships, which introduce further friction and delay.
Cultural, language, location, interpretation differences take a toll on what should be a smooth process of letting risk premiums flow through liable intermediaries.

68% of Lloyd's net written premiums were outstanding at year-end 2022 – a shortfall of £23.58B (including write-offs).
Lloyd’s could realize £150M in risk-free profit by receiving premiums 30-days sooner (T+150).
Lloyd’s spent £996M in processing costs in 2022.
Delays in settlement introduce credit risk and require premium financing, letters of credit.
Delays in receipt reduces funds available for claims reserves, decreasing ability to cover additional risk.
Severe, constant contractual uncertainty for re/insurers as they take more than 50% of the on risk period in order to collect. (leading to large possibility of losses before settlement)

RPM consolidates the many separate spreadsheets in the risk-transfer chain into a single platform for coordinating and automating premium allocation, accounting, invoicing, and payment. RPM tracks payments over the life of the policy, using the contract as the single source of truth.
Parties import contract terms and generate a single invoice per payment that covers all parties’ amounts due along the chain. RPM coordinates approvals from the parties to ensure accuracy.
Once cedent pays the invoice, RPM automatically splits the premium and pays all parties simultaneously (fees, commissions, and percentages of premiums due). Payment execution is instant.
Multi-currency transactions allow parties to receive funds in their individually preferred currency. Resolvr and its payments partners handle remittance and conversion - at a fraction of the cost of conventional banking solutions.

Bitcoin enables same-day cross-border transaction settlements. The Bitcoin Lightning Network (a protocol for accelerating native bitcoin payments) enables instant cross-border settlement.
Bitcoin is programmable money, enabling single payments to be split and shared with unlimited numbers of recipients, automatically and simultaneously.
Bitcoin is the most secure, reliable payments network and money in existence (100% uptime last 10 years, 99.98% uptime over its lifespan, immutable and finite supply/issuance schedule).
Bitcoin dominates the digital asset ecosystem: (largest market cap - $1.16T, deepest liquidity, comprising >55% of entire asset class). (Read more: https://www.fidelitydigitalassets.com/research-and-insights/bitcoin-first-revisited)