RC Labs
RC Labs is Risk Cooperative’s innovation center, where our team works on advanced research projects to launch pioneering fintech and insuretech solutions. The RC Labs team leverages cutting-edge technology platforms and partnerships with leading academic institutions to develop better ways of addressing new and emerging risk classes and improve the overall management and delivery of risk transfer solutions.
RC Labs was developed to create a portfolio of proprietary programs focused on blockchain and the digital transformation of the $5.5 trillion dollar risk transfer industry. RC Labs solutions include:
Advanced Research
Risk Cooperative’s proprietary, evidenced-based approach to innovation identified unmet market needs and breakthrough delivery methods.
Insurance-as-a-Service
Embedding insurance at the software, product or service layer, Risk Cooperative’s breakthrough approach offers massive scalability, product differentiation and risk diversification.
Rapid Prototyping
In partnership with the world’s leading insurers and technology firms, Risk Cooperative’s lab employs a proven scientific method of rapid prototyping across the insurance value chain.
Intellectual Property / Portfolio
With a portfolio of proprietary products, structured as stand-alone investments, Risk Cooperative’s intellectual capital and product portfolio is far reaching, including cyber solutions, physical security and payments.
Blockchain Applications
As a pioneer in the blockchain space, Risk Cooperative leverages real-world applications of blockchain, building value chain efficiencies and trust, while piloting self-sovereign and parametric offerings.
Selected Proprietary Innovations:
Remitinsure
Remit Insure
At more than $600 billion in reported cash flows, remittances are a vitally important cash flow. For some countries, these peer-to-peer cash transfers have comprised up to 40% of the gross domestic product (GDP). Within the U.S., a growing population of 40 million legal immigrants and expatriates send as much as $61 billion in outbound transfers in 2015 – making it the largest sender market in the world. When remittances are interrupted, some recipients may face financial challenges. Help protect your loved ones around the world. A Remit Insure policy can help ease the financial obligations placed on your dependents in their home countries. In a matter of minutes, apply for coverage, without taking a medical exam, choosing multiple beneficiaries around the world. With Remit Insure, you can help provide your loved ones’ with financial protection.
Cyber Warranty
Cyber Warranty
A unique cyber warranty indemnification program offered in partnership with leading technology solutions. This program aims to make cyber insurance more accessible and build organizational resiliency.
Physical Security
Physical Security
Risk Cooperative’s Physical Security insurance solutions are designed to help organizations and academic institutions cope with the growing risk of active shooter and mass casualty events. This specialized program provides a preliminary risk assessment gauging vulnerabilities, as well as on the ground crisis management support, counseling services for victims, and Lloyd’s-backed liability protection to help protect assets from legal costs and reputational harm.
Blockchain Risk Registry
Blockchain Risk Registry
Enabling real-time policy issuance and claims management, Risk Cooperative in partnership with insurance markets and technology partners is implementing blockchain technology in the policy recording and claim facilitation process to improve transparency and outcomes across the entire value chain.