Features of Using Fin-Tech Solutions for Environmental Risk Insurance
Goal Justification of the use of modern financial solutions in environmental risk insurance by automating key processes. Method The paper proposes new principles of interaction between the insurer, insurance broker and the insured on the basis of blockchain, which will significantly simplify the work, speed up the exchange of information, effectively manage cash flows, and accumulate statistics on rare environmental risks. Based on the blockchain platform, you can enter smart contracts between several parties at once (an insurer, a broker, or a policyholder-a source of increased danger). This, in turn, can provide a consistent automated environment that reduces the administrative burden of multiple stakeholders. Such development of modern and efficient processing of insurance transactions will require General standardization and a mechanism that combines the attraction of financial resources and the creation of blockchain programs of the environmental direction. Results It was evaluated how blockchain technology can be established as a viable tool for the insurance industry in General and for insurance clients. Conclusions The results of the study can be used by insurance companies to assess the competitive environment in terms of using blockchain technologies in the process of strategic planning, and in developing new products, in particular, environmental insurance, as well as by the state to control and participate in the insurance market in the formation of the digital economy and in the creation and implementation of the concept of sustainable development.