Decentralized Insurance

Runhuan Feng is a Professor of Mathematics, Statistics, Industry and Enterprise Systems Engineering, the State Farm Companies Foundation Endowed Professor, the Director of Actuarial Science, and the Founding Director of Predictive Analytics and Risk Management at the University of Illinois at Urbana-Champaign. He is the Faculty Lead for Finance and Insurance Sector at the University of Illinois System’s Discovery Partner Institute in Chicago. Feng is a Fellow of the Society of Actuaries and a Chartered Enterprise Risk Analyst. He co-founded the Illinois Risk Lab, which facilitates interdisciplinary activities that integrate experiential learning for students with research problems from the industry or the society. Feng servesas an independent consultant to many corporations and startups and provides expert testimonies to law firms for public policy assessment and actuarial analysis. His consulting work has been used by the Illinois General Assembly for pension-related legislative proposals. Feng’s research has been recognized in the practitioners’ community through his applied technical contributions and presentations as invited speakers at industry conferences. He won the Institute and Faculty of Actuaries’ Geoffrey Heywood Prize in 2022. His recent interests are on business designs in decentralized finance and insurance and how distributed technologies can be best utilized to address emerging risks and societal challenges.

• 1. ​Introduction.- 2. Risk Assessment and Measures.- 3. Economics of Risk and Insurance.- 4. Traditional Insurance.- 5. Decentralized Insurance.-  6. Aggregate Risk Pooling.- 7.  P2P Risk Exchange.- 8. Unified Framework.- 9. DeFi Insurance.- Reference. – Index.