Insurance

Capital markets
for insurance risk

Cork is financial infrastructure for the insurance lifecycle. It runs onchain alongside the systems you already use, to create more transparent, trusted and liquid risk markets.

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Built for the parties that write, hold, and back risk

  • MGAs
  • Reinsurers
  • ILS issuers & investors

Capital is stuck today

Insurance runs on capital.
Opacity makes that capital expensive.

Every party to a risk keeps its own record of the same policy, so those who buy it underwrite and hold it relatively blind. That lack of transparency and trust is what raises the cost of capital, and it costs the industry in four ways.

Collateral locked

Collateral posted to back risk stays in trust for the life of the contract, and often for years after. It earns nothing and backs nothing else.

Recoveries move slowly

Premium and claims are matched by hand at every handoff. Recoveries move through a chain of reinsurers for months, and cash that should be earning sits idle in transit.

Reserves sit idle

Reserves are held against exposures nobody can see in real time. When you can't size the loss, you hold more than you need, and that cushion raises the cost of capital for everyone behind you.

Capital holds risk blind

Those who back insurance risk can't verify what they hold. They see periodic statements, not the risk itself, and price in what they can't see. Capital that can't see the risk charges more for it, or stays away.

What Cork is

A verified record of your risk,
and a market for it

One neutral, verified record

Policies, exposures, and collateral recorded on a single shared ledger that runs alongside the systems you already run. Privacy-protected permissioning keeps policy data protected while the relevant risk lives on chain, visible to the parties entitled to see it. More transparency, more trust, a lower cost of capital.

A market on top

Insurance risk brought on chain as an insurance-linked security, backed by the live record beneath it. Those who hold it see the risk they are underwriting, not a quarter-old file. Better data, wider distribution, and a broader set of holders for an asset that has been closed to anyone not already inside it.

Who it's for

Three seats. One record. New capital.

MGAs

Prove your book. Grow your capacity.

Your book, live and verified, is the record your carriers and reinsurers see. A track record they can check for themselves makes capacity easier to secure, and opens a route to capital that can back what you write.

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Reinsurers

A new way to distribute what you write.

Slices of the risk you hold can be packaged and distributed to ILS and onchain capital that can see what it is buying. Risk that can be seen attracts more capital at a better price. Collateral earns while it's posted and is released as soon as the facts support it.

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ILS issuers & investors

Bring your book onchain. Reach wider distribution.

Cork helps issuers bring their book onchain, with the underlying risk on a live, verified record. That transparent model reaches a wider pool of holders, and investors stop holding risk blind: they see what they back, hold it as a transferable position, and exit when their view changes.

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What you get from Cork

Cork unlocks new opportunities to attract capital, trade risk, free reserves, and move funds.

New routes to capital

Money that cannot reach insurance risk today can finally back it, transforming risk held on balance sheets into a liquid market.

Reserves released

Real-time exposures free the reserves you hold against losses you cannot yet size, and idle cash earns a return.

Asset allocators can hold

Capital partners see and price exactly what they back, hold it as a transferable asset, and exit when their view changes.

Faster, more liquid markets

Stablecoin adoption and onchain ILS fund distribution make settlement faster, positions more liquid, and the whole market more transparent.

Why Cork, why now

The conditions to modernize insurance didn't exist before

  1. The rails finally exist

    Stablecoins are mainstream finance, tokenized real-world assets have moved from pilots to live transactions, and the first reinsurance contracts have been tokenized with collateral held in money market funds.

  2. Neutral shared ground

    Carriers underwrite, MGAs write, and reinsurers and capital partners take on risk, and on Cork everyone keeps that role while seeing the same facts, with policy data protected and the risk visible to the parties entitled to it.

  3. Built and shipped

    Where industry consortiums spent years and never launched, Cork is a single company already running live infrastructure on the same contracts that power every other Cork market.

Insurance risk can finally be seen, priced, held, and traded like any other asset.

The ask

Let's find the right place to start

We'd welcome 30 minutes to walk through the platform and where it could create the most value for your business.

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