Putting computable contracts at the heart of the insurance value chain

Building digital insurance foundations

Specimen wording — What is coveredInsurML

Additional Business Activities Cover

The cover under this section includes the
following activities of the business:

1.  Providing and managing amenities for the
    benefit and welfare of employed persons

2.  Owning, repairing, maintaining and
    decorating your own property or premises
    you use
3.  Providing and managing facilities
    primarily used for fire prevention,
    safety or security at your premises
4.  Maintaining and repairing vehicles and
    machinery owned or used by you

5.  Private work you allow employed persons
    to do for your directors, partners or
    officers, as long as this work is done
    with your prior permission

6.  The sale or disposal of business assets

<component type="additional cover">
  <title>Additional business activities cover</title>
  <p>The cover under this section includes the
     following activities of the business</p>
  <ordered-list>
    <item>1. providing and managing amenities for the
      benefit and welfare of <cross-ref term="employed
      person">employed persons</cross-ref></item>
    <item>2. owning, repairing, maintaining and
      decorating your own property or premises
      you use</item>
    <item>3. providing and managing facilities
      primarily used for fire prevention, safety
      or security at your premises</item>
    <item>4. maintaining and repairing vehicles and
      machinery owned or used by you</item>
    <optional-clause>
      <item>5. private work you allow <cross-ref
        term="employed person">employed persons
        </cross-ref> to do for your directors,
        partners or officers, as long as this work
        is done with your prior permission</item>
      <item>6. the sale or disposal of business
        assets</item>
    </optional-clause>
  </ordered-list>
</component>

About

Axiome Partners was established to help the insurance industry rebuild its digital foundations. We are achieving this by building greater levels of structure and intelligence into next-generation insurance contracts that actively support business operations right across the value chain.

Axiome Partners brings together a wealth of industry expertise and a deep understanding of the technologies that are set to reshape the insurance landscape over the coming years. We have developed new industry standards as well as a portfolio of truly innovative prototyping projects that demonstrate the transformative potential of computable contracts for commercial insurance.

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The standards, the tooling and the thinking behind computable contracting — what changes when a policy carries its own meaning.

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