As a stakeholder in the decentralized, tokenized marketplace for flood insurance, I want to ensure that the risk associated with properties in the Southern United States & Puerto Rico is adequately assessed, and that insurance prices are adjusted accordingly.
Acceptance Criteria
[ ] System can receive property data, including location, construction type, and historical weather patterns.
[ ] System can integrate with external geographic information systems (GIS) for up-to-date floodplain data.
[ ] Smart contracts can calculate risk scores based on input data and predefined algorithms.
[ ] Risk scores can dynamically adjust insurance premiums in real-time.
[ ] Users are able to view the risk assessment and corresponding premium before purchasing a policy.
[ ] The system provides a transparent audit trail of risk assessments and premium adjustments for regulatory compliance.
[ ] There is a failsafe mechanism for manual override in case of discrepancies or disputes.
graph TD;
A[Property Data] -->|Input| B[Risk Assessment Engine];
B -->|Calculate Score| C[Risk Score];
B -->|Audit Trail| D[Compliance Ledger];
C -->|Adjust Premium| E[Insurance Smart Contract];
E -->|Issue Policy| F[User Dashboard];
C -.->|Manual Override| G[Administrator];
G --> E;
H[External GIS] -.-> B;
Risk Assessment Protocol
As a stakeholder in the decentralized, tokenized marketplace for flood insurance, I want to ensure that the risk associated with properties in the Southern United States & Puerto Rico is adequately assessed, and that insurance prices are adjusted accordingly.
Acceptance Criteria