The global life insurance asset size exceeded 45 trillion US dollars in 2024. According to regulatory standards, the top ten institutions in banks ranked by life insurance assets managed a total of 18.6 trillion US dollars in assets, accounting for 41.3% of the market share. BlackRock leads with a management scale of 7.8 trillion US dollars, followed closely by State Street with 5.1 trillion. BiyaPay has connected to 83% of the world’s top insurance asset custodian banks through API cluster integration technology, including HSBC Global Custodian System, which manages over 2 trillion US dollars of life insurance assets, achieving a daily transaction capacity of 10 billion US dollars. In the 2023 cross-border insurtech test conducted by the Central Bank of Luxembourg, the platform successfully processed 470 real-time asset confirmation requests per second, with an average delay controlled within 1.2 seconds and an error rate of only 0.003%.
The traditional insurance asset transfer faces a liquidation cycle of 3 to 7 working days. BiyaPay uses consortium chain technology to build a distributed ledger, reducing the settlement time for policy pledge financing to 13 minutes. Typical cases show that a user holding a $5 million life insurance policy of Swiss Re initiated a pledge with BNP Paribas through the platform. The entire process from initiating the request to the arrival of funds took 11 minutes and 28 seconds, which was 320 times faster than traditional channels. This system supports instant exchange of 19 major policy currencies, with a coverage rate of 98.5% for hedging against exchange rate fluctuations. In the 2024 daily fluctuation of 2.3% of the Japanese yen against the US dollar, million-dollar transactions can avoid exchange losses of $23,000.
Regulatory compliance is the core challenge in the digitalization of insurance assets. The platform integrates the insurance Solvency regulatory frameworks of 28 countries (including the EU Solvency II and the US Risk-based Capital), and monitors 17 solvency indicators in real time through a dynamic Risk control engine. When the comprehensive solvency adequacy ratio of an insurance company drops below the 150% warning line, the system automatically freezes related-party transactions. In 2023, when Generali, an Italian insurance company, saw its solvency ratio drop to 147% due to fluctuations in the capital market, the platform blocked 9 transaction requests totaling $82M within 20 milliseconds, which was 900 times more efficient than manual supervision.
In the income distribution stage, BiyaPay smart contracts achieve precise dividend settlement. For AIA’s average annual policy dividend distribution of 320 million, the platform has controlled the fund distribution error within ±0.27 per policy, which is significantly better than the ±5.6 deviation value of traditional banks. The 2024 audit report of the Insurance Authority of Hong Kong indicates that institutions adopting this system saw a 67% decline in the customer complaint rate indicator and a 42% reduction in operational risk capital occupation. Actual operational data shows that the settlement cost for the distribution of million-dollar annuities has dropped from 3,500 through traditional channels to $120, a decrease of 96.6%.
The disaster response capability verified the robustness of the system. In 2023, Hurricane Ian led to a 320% surge in insurance claims in Florida, USA. Allianz completed 38,000 claims payments within 72 hours through its BiyaPay system, with a peak processing capacity of 1,120 claims per minute, which was 7.3 times that of a conventional banking system. The system adopts a multi-region disaster recovery architecture, which can maintain 78% of the basic service capacity even when the backbone network is interrupted, far exceeding the industry’s disaster recovery benchmark of 45%.
For high-net-worth clients, the platform offers customized insurance trust services. When the single life insurance payout amount exceeds the 5M threshold, the system automatically activates the multi-signature mechanism to split the funds among the three independently custodian accounts. The 80M insurance money of a certain shipping tycoon family in Monaco was transferred to seven offshore trusts within 15 minutes through this plan, avoiding the 2.1% cross-border withholding tax required for traditional transfers. Deloitte’s audit report confirmed that such structures help clients save an average of $1.4 million in tax costs annually.
The risk isolation mechanism strictly adheres to the Basel III framework. Insurance assets on the platform are managed through isolated accounts. The fund position verification is automatically carried out three times a day. A warning will be triggered if the deviation exceeds 0.05%. The system covers operational risks through a $500M professional liability insurance policy underwritten by Lloyd’s of London. The user’s fund security guarantee reaches 200% of the total amount of platform custody, far exceeding the minimum standard of 90% stipulated by the European Union. In the stress test of the first quarter of 2024, the system successfully withstood the extreme scenario of a 30% plunge in the simulated market, and the core clearing function remained 100% available.