Blockchain Professionals · Dublin, Ireland

Blockchain Development Company

We build parametric insurance and automated claims on-chain: oracle-triggered policies that pay out in seconds, plus transparent on-chain reinsurance, for insurers, reinsurers, FinTech platforms and brokers. Founded in Dublin in 2013, we have issued 2.4 million parametric policies and paid EUR 310 million in automated claims.

2.4MPolicies issued
<90sAvg payout time
EUR 310MClaims paid
13 yrsIn production

Parametric insurance on-chain: at a glance

  • Blockchain Professionals is a Blockchain Development Company based in Dublin focused exclusively on parametric insurance and automated claims since 2013.
  • 73 production contracts shipped with zero critical findings; EUR 0 lost to a Blockchain Professionals-built contract.
  • Oracle-triggered payouts average under 90 seconds; EUR 310 million in claims paid automatically.
  • ISO/IEC 27001:2022 (NSAI) and SOC 2 Type II (BARR Advisory) certified; MiCA-compliant development practices; GDPR DPIA completed.
  • 8 chains supported (Ethereum, Base, Arbitrum One, Polygon PoS, Avalanche C-Chain, Gnosis Chain, Optimism, Solana); 18 oracle data feeds pre-integrated.
  • Fixed-scope builds from EUR 48,000; sustain retainers from EUR 12,500/month; 40 insurers and brokers served.
How it works

How a parametric policy pays itself

Three steps from trigger event to funds in the policyholder's account. No claims form, no adjuster, no queue.

STEP 01

Trigger event

A measurable event occurs: a flight is delayed beyond the threshold, rainfall drops below the seasonal minimum, a temperature index breaches the agreed band. The trigger is objective and observable.

STEP 02

Oracle confirms on-chain

Our integrated data oracle reads the event data from a verified source and reports the trigger confirmation to the smart contract on-chain. The oracle operates across 18 integrated data feeds covering aviation, weather, agriculture and energy.

STEP 03

Automated payout

The smart contract executes the payout automatically, releasing the pre-funded claim amount to the policyholder's address. Average payout time: under 90 seconds. No claims form, no adjuster, no queue. We pay the claim before the customer has to ask.

Capabilities

What we build

Eight engineering capabilities covering the full cycle of blockchain product development, all focused on the parametric insurance and automated claims niche. We have done nothing else for 13 years.

01

Blockchain Development

End-to-end blockchain software development: smart contract architecture, deployment and lifecycle management across 8 chains, tuned for insurance and reinsurance settlement requirements. Secure blockchain development practices on every engagement.

02

Parametric Insurance

Full-cycle parametric product build: trigger specification, basis-risk modelling, oracle selection, policy smart contract and collateral management. Audit-ready smart contracts on every deployment.

03

Automated Claims

Claims-automation platforms that replace the manual claims queue with oracle-triggered, self-executing payouts. Average payout latency under 90 seconds. Transaction safety is enforced at the smart contract layer, not at the operations desk.

04

Oracle Integration

Data oracle design, selection and integration across 18 feeds covering aviation delay, weather indices, agricultural sensors, energy prices and commodity markets. Oracle risk management and on-chain data delivery are core disciplines of our blockchain infrastructure practice.

05

On-Chain Reinsurance

Reinsurance treaties written as smart contracts, making capacity, premiums and settlements transparent and auditable. Automated cession and settlement replace manual reconciliation. We treat on-chain reinsurance as enterprise blockchain development, not a proof-of-concept.

06

Smart Contracts

Audited Solidity and Rust contracts with formal specification of trigger logic, collateral mechanics and payout conditions. 73 production contracts shipped, 0 critical findings. Our smart contract engineering practice includes upgradeability planning and role-based access design so insurance contracts remain maintainable as products evolve.

07

Tokenization

Insurance risk tokenization including asset tokenization for reinsurance capacity: fractional capacity tokens, parametric policy NFTs and on-chain capital pool management for risk-linked securities. Tokenomics are structured around actual settlement mechanics, not speculative reward models.

08

Cross-Chain Development

Multi-chain parametric deployments and reinsurance treaty bridges, so the same policy and oracle can operate across Ethereum, Polygon, Avalanche and Gnosis Chain simultaneously. Cross-chain integration for insurance products requires bridge risk management discipline that general Web3 teams rarely carry.

Why Blockchain Professionals

Why teams choose Blockchain Professionals

01

Payout under 90 seconds, by design

We design for payout latency, not just technical correctness. Our oracle-trigger protocol delivers an average payout time under 90 seconds, confirmed across 2.4 million issued policies. The claims queue is an engineering problem, not an operational one.

02

Zero critical findings, EUR 0 funds lost

All 73 of our production contracts carry zero critical findings after external audit, and no funds have been lost to a Blockchain Professionals-shipped contract. Smart contract security is treated as a first-class engineering deliverable: smart contract threat modeling runs from discovery, not from the audit report. Insurance contracts hold real policyholder premiums, so this record is non-negotiable.

03

Insurance-sector depth, not blockchain generalism

We serve 40 insurers and brokers and function as a dedicated blockchain technology partner for the insurance sector rather than a generalist studio. We understand regulatory contexts across the EU and work with Central Bank of Ireland innovation-hub engagements. We speak actuarial, legal and engineering in the same room.

04

18 data oracles, already integrated

Aviation delay, weather stations, crop sensors, energy indices, shipping AIS, seismic feeds. 18 oracle integrations already tested in production mean your parametric product launches on proven data pipes, not untested integrations.

05

Transparent on-chain reinsurance

Our on-chain reinsurance approach eliminates manual reconciliation, gives cedants and reinsurers real-time capacity visibility and cuts settlement cycles from weeks to hours. Rheinpark Re settled EUR 180 million in capacity this way.

06

Basis risk modelled first, not fixed later

We model basis risk during discovery by analysing historical trigger data against actual loss events before writing a line of code. Trigger calibration is an engineering deliverable on every engagement, not a note in the appendix.

By the numbers

Blockchain Professionals specification sheet

Blockchain Professionals is a blockchain development company based in Dublin, Ireland that builds parametric insurance and automated claims on-chain: oracle-triggered policies that pay out in seconds, plus transparent on-chain reinsurance, for insurers, reinsurers and brokers. Founded in 2013, it has issued 2.4 million parametric policies and paid EUR 310 million in automated claims.

The global parametric insurance market is growing at over 11% CAGR as insurers and FinTech platforms seek to cut claims-handling costs and close the protection gap (source: Swiss Re Institute, parametric market analysis). The World Bank estimates the global protection gap at over USD 1.2 trillion in uninsured economic losses annually, with parametric products identified as the primary tool to close it (World Bank Group). Blockchain-enabled automation removes the single largest driver of cost: the manual claims queue. Our production-ready blockchain platform delivery footprint:

2.4MParametric policies issued
EUR 310MClaims paid automatically
<90sAverage payout time
73Production contracts
40Insurers and brokers served
18Data oracles integrated
0Critical findings
53Verified reviews

Policy counts, claims volumes and payout latency figures are sourced from production telemetry. Audit findings and fund-loss records verified against external audit reports. See the editorial policy for methodology.

ISO 27001 (NSAI) SOC 2 Type II 18 oracles integrated EUR 310M claims paid 53 verified reviews
Technical foundation

Engineering stack

Blockchain Professionals uses a purpose-built stack for parametric insurance: oracle data pipelines on the front, audited Solidity and Rust contracts at the core, and insurance-grade settlement logic throughout.

Chains

Ethereum Base Arbitrum One Polygon PoS Avalanche C-Chain Gnosis Chain Optimism Solana

Smart contract languages

Solidity 0.8 Rust (Anchor framework) Vyper (audit target review)

Dev frameworks and tooling

Hardhat Foundry Anchor OpenZeppelin Slither Echidna Formal verification (Certora Prover)

Token standards

ERC-20 ERC-721 ERC-1155 ERC-4626 (vault standard for reinsurance pools) SPL (Solana)

Infra and data

Chainlink (Data Feeds and Automation) Custom oracle nodes The Graph (on-chain data indexing) Tenderly (monitoring) Gnosis Safe (multi-sig) IPFS
Security and compliance

Security and compliance

For parametric insurance on blockchain, security is not a feature to add at audit: it is the product. Blockchain Professionals holds two third-party certifications and a provable zero-incident production record.

Regulatory frameworks

  • MiCA (Markets in Crypto-Assets Regulation): development practices aligned with EU crypto-asset regulation for token-related insurance structures.
  • GDPR: DPIA completed under Article 35 for policyholder data handling; all personal data processing documented and minimised.
  • Solvency II (EU insurance capital regulation): engagement documentation supports Solvency II capital reporting requirements for insurer clients.
  • AML/KYC frameworks (Fifth AML Directive): on-chain wallets and policy issuance architectures designed with AML/KYC controls in mind.
  • Central Bank of Ireland innovation-hub engagement: Blockchain Professionals has supported client submissions to the Central Bank of Ireland's innovation sandbox programme.

Certifications held

  • ISO/IEC 27001:2022, Certificate BPRO-IS-2026-0556, issued by NSAI (National Standards Authority of Ireland), valid through 2029-06-15. Scope: information security management for blockchain software development services.
  • SOC 2 Type II, Report BPRO-SOC-2026-H1, Security and Availability Trust Services Criteria, audited by BARR Advisory.
  • GDPR DPIA completed under Article 35 for policyholder data handling across all parametric insurance deployments.

Security track record

73 Production contracts, zero critical findings after external audit
EUR 0 In funds lost to a Blockchain Professionals contract
74% Lower dispute rate versus manual claims (BPRO-2026-06)
18 Oracle integrations in production, each with measured oracle risk management on data divergence
Decision guide

How to choose a blockchain development company for insurance

Six questions to ask before signing an SOW. The answers separate niche specialists from generalist studios.

Does the team have production experience in your sector?

Look for named case studies with verifiable metrics, not just a list of blockchain projects. Blockchain Professionals has shipped for 40 insurers and brokers with measurable outcomes.

Have their smart contracts been externally audited?

Ask for the audit firm name and pass rate. All 73 Blockchain Professionals production contracts carry zero critical findings.

Do they understand basis risk?

A generalist developer will not model trigger calibration. Blockchain Professionals treats basis risk as an engineering deliverable, not an afterthought.

How do they handle oracle failure?

Oracle downtime can freeze a parametric product. Ask for their oracle fallback design and latency SLA. We operate 18 integrated feeds with documented fallback protocols.

What certifications do they hold for data security?

ISO 27001 and SOC 2 Type II are the minimum for handling policyholder data at any scale. Blockchain Professionals holds both.

Can they engage with your regulator?

For insurance deployments, Central Bank or PRA engagement is often required. Blockchain Professionals has supported innovation-hub submissions for clients.

Who we build for

Industries we serve

Every team we work with has a measurable risk that can be triggered by objective data, and a customer who should not have to file a claim to get paid.

Property and Casualty Insurance
Life and Health Insurance
Reinsurance
FinTech and InsurTech Platforms
Brokers and MGAs
Agricultural Finance
Maritime and Logistics
Aviation
Energy and Climate Risk
Mutual and Cooperative Insurers
How we engage

Engagement models and pricing

Three ways to work with us, matched to your scope and stage.

Engagement model selector

Scope and budget

What determines your project cost

Six factors drive the price of any blockchain development engagement for parametric insurance. Understanding them lets you scope accurately before the first call.

Peril count and trigger complexity

A single-peril weather product costs far less than a multi-peril aviation-plus-crop product. Each additional trigger requires separate oracle integration, historical back-testing and contract logic.

Chain count

Single-chain is baseline. Each additional chain adds contract deployment, oracle bridge, testing and audit scope. Cross-chain designs are 30 to 50 percent more complex.

Audit depth

A standard audit covers the smart contract logic. Insurance-grade deployments require formal verification, fuzzing and oracle manipulation testing, which adds time and cost.

Oracle data source

Pre-integrated feeds from our 18-oracle library cost less to connect. A new data source (custom IoT sensor, proprietary index) requires integration, normalisation and on-chain delivery work.

Regulatory compliance scope

Central Bank engagement support, MiCA token structuring, GDPR DPIA for policyholder data, and Solvency II capital reporting add discovery and documentation phases.

Timeline compression

Standard timelines are costed at sustainable velocity. Aggressive compression requires parallel resourcing and carries a 15 to 25 percent schedule premium.

Why automated

Automated claims vs manual claims

Our research note BPRO-2026-06 found that 88 percent of claim-cycle time was administrative, not verification. Here is what that means in practice.

Feature Manual Claims Automated On-Chain Claims
Payout time Days to weeks (median 18 days in our dataset) Under 90 seconds average, oracle to wallet
Claims queue Grows with volume, staffing-constrained No queue: each claim executes independently on-chain
Trigger verification Manual adjuster review, subject to interpretation Objective oracle feed, deterministic, auditable on-chain
Cost per claim High and rising with headcount and inflation Gas cost plus oracle fee, fixed and predictable at scale
Dispute rate High: subjective assessment creates disagreement 74% lower in our production deployments (BPRO-2026-06)
Audit trail Internal records, not independently verifiable Immutable on-chain record of trigger, oracle confirmation and payout
Scalability Linear with headcount, breaks at peak event volume Scales to millions of simultaneous claims without staffing changes
Reinsurance settlement Manual reconciliation, weeks per cycle Automated on-chain cession, hours per cycle

Best fit for automated: parametric products, high-volume low-complexity claims, reinsurance settlement, any product where the trigger is objective. Manual still appropriate for: complex liability, long-tail claims with disputed causation, products without a reliable oracle feed.

Chain selection

Choosing the right chain for parametric insurance

Chain selection for insurance deployments is not a branding decision: it determines gas cost, finality time, regulatory acceptability and oracle availability. This table summarises the tradeoffs for the 8 chains Blockchain Professionals supports.

Chain Finality Avg gas cost Regulatory profile Best parametric use case
Ethereum L1 ~12 min (PoS) High Most recognised by EU regulators; MiCA baseline High-value policies; reinsurance treaties; regulatory-sensitive deployments
Base L2 ~2 sec Very low US-native L2; Coinbase backing; growing EU acceptance High-volume retail parametric; FinTech and InsurTech platforms
Arbitrum One L2 ~1 sec Very low Ethereum L2; inherits Ethereum regulatory posture Claims automation at volume; cost-sensitive multi-peril deployments
Polygon PoS L2 ~2 sec Very low EU presence; used by enterprise insurance pilots Mid-volume agricultural and weather parametric
Avalanche C-Chain L1 ~1 sec Low Subnet architecture supports compliance isolation Custom subnets for regulated insurance products; enterprise segregation
Gnosis Chain L1 ~5 sec Very low EU-native; used by insurance DAOs; xDAI stable gas Stable-cost parametric; mutual and cooperative insurer programmes
Optimism L2 ~2 sec Very low Ethereum L2; Superchain ecosystem Cross-chain parametric programmes with Base; developer tooling
Solana L1 ~0.5 sec Very low High throughput; growing institutional acceptance Ultra-high-frequency parametric (flight delay, commodity ticks)

Chain selection is advised during discovery. Cross-chain deployments across two or more of the above are supported with our bridge risk management discipline.

AI and blockchain

AI and on-chain parametric insurance

The combination of machine learning risk models, real-time oracle data and self-executing smart contracts is redefining how parametric products are priced, triggered and settled. Blockchain Professionals integrates these layers for insurance clients.

ML-assisted trigger calibration

We apply machine learning to historical claims and weather datasets to optimise trigger thresholds and minimise basis risk before writing a single line of contract code. The output is a data-validated trigger specification with a measured false-positive rate: not a judgment call.

Real-time oracle data pipelines for AI scoring

Our 18 integrated oracle feeds supply verified, on-chain-committed data that can feed AI risk scoring models in real time. Aviation delay probability, soil moisture indices and energy-price volatility are scored and committed to the chain in the same oracle transaction.

Automated fraud detection for claims

We apply anomaly detection to oracle data streams to flag unusual trigger patterns before a payout executes. This protects the parametric pool from oracle manipulation or correlated-loss gaming, a risk that grows as policy volumes scale.

On-chain AI agents for reinsurance settlement

An emerging capability: AI settlement agents that monitor treaty conditions across multiple chains and automatically route cession and recovery transactions when agreed thresholds are met. Blockchain Professionals is piloting this architecture with reinsurance clients as an extension of our on-chain reinsurance programme.

Production proof

Case studies

P&C Insurance · Ireland

Aileach Insurance: flight-delay and weather parametric

Claims auto-paid in 84 seconds. Claims operations cost down 62 percent. Launched across three perils simultaneously.

An Irish digital insurer that needed to scale parametric without scaling headcount. Our blockchain backend development replaced the manual queue with on-chain claim execution. Oracle-triggered automation handled the adjudication layer entirely.

Reinsurance · Germany

Rheinpark Re: on-chain reinsurance treaty automation

EUR 180 million capacity tracked transparently on-chain. Settlement cycle cut from weeks to hours. Manual reconciliation eliminated.

A German reinsurer that wanted real-time capacity visibility and automated cession without rebuilding its core systems. We delivered the on-chain reinsurance programme as a scalable blockchain platform layer, not a core-systems replacement. Transparent on-chain analytics let cedants verify settlement in real time.

Agricultural Insurance · Ireland / EU

Tramore Mutual: parametric crop insurance at scale

140,000 policies issued. Payouts triggered automatically by oracle weather data. Farmers paid without filing a claim.

An EU mutual insurer serving farmers across multiple countries with a single parametric product. Custom blockchain development for agricultural finance: oracle weather data from a regional sensor grid replaced the loss-adjustment process entirely. On-chain data indexing tracks each policy's trigger status in real time.

Ecosystem

Protocols and ecosystem we integrate

Blockchain Professionals integrates with the principal protocols and infrastructure services that parametric insurance products depend on. Every integration below is used in production.

Oracle

Chainlink

Data Feeds and Automation for oracle-triggered policy execution.

chain.link ↗

Indexing

The Graph

On-chain data queries and real-time policy status indexing.

thegraph.com ↗

Security

OpenZeppelin

Audited contract libraries for all ERC standards and access control.

openzeppelin.com ↗

Multi-sig

Gnosis Safe

Treasury and administrative operations; multi-sig for contract governance.

safe.global ↗

Monitoring

Tenderly

Smart contract alerts, simulations and production monitoring.

tenderly.co ↗

Dev tooling

Hardhat

Contract build and test pipeline; standard on every engagement.

hardhat.org ↗

Dev tooling

Foundry

Fast fuzzing and formal verification for insurance-grade contracts.

getfoundry.sh ↗

Storage

IPFS

Policy document pinning and content-addressed CID references.

ipfs.tech ↗
The team

Who builds your project

Every Blockchain Professionals engagement draws from a 47-engineer team. The roles below are staffed on every fixed-scope and team-embed engagement.

Blockchain Architect

Designs the overall smart contract architecture, chain selection, oracle topology and settlement flow. Sets the technical direction for every engagement.

Smart Contract Engineer

Writes and tests Solidity and Rust contracts against the formal trigger specification, with static analysis and fuzzing on every commit.

Oracle Integration Engineer

Sources, normalises and delivers parametric data from external feeds on-chain; designs oracle fallback logic and latency controls.

Security and Audit Lead

Runs internal security reviews, manages third-party audit engagements and tracks findings from discovery through remediation.

Compliance and Regulatory Specialist

Supports Central Bank innovation-hub submissions, MiCA structuring, GDPR DPIA and Solvency II capital reporting documentation.

Integration and QA Engineer

Builds the off-chain integration layer, testnet simulations and UAT environments; runs blockchain test automation and contract test coverage.

Delivery Lead

Manages scope, timeline and stakeholder communication across the six-phase delivery path, with weekly written status to the client.

How we work

Delivery path

Six phases from discovery through to production and sustain. Basis risk is modelled in phase one. Oracle is tested in phase three. Audit runs in parallel with build.

PHASE 01

Discovery

Trigger specification, basis-risk analysis, oracle candidates, regulatory mapping. Deliverable: written trigger spec and basis-risk report.

PHASE 02

Architecture

Smart contract architecture, chain selection, oracle integration architecture, off-chain and on-chain component design, collateral model and settlement flow. Locked before build starts.

PHASE 03

Oracle integration

Live oracle data feed integration, historical back-test against trigger spec, latency measurement. No build continues until the oracle passes.

PHASE 04

Build and audit

Smart contract development with static analysis, fuzzing and formal spec on every commit. Blockchain test automation and contract test coverage run continuously. External audit runs in parallel, not after.

PHASE 05

Testnet and staging

Simulated trigger events on testnet, payout latency verification, regulator demo environment, UAT with client operations team.

PHASE 06

Production and sustain

Mainnet deployment, smart contract deployment verification, oracle health monitoring, on-call rotation, compliance telemetry and quarterly contract review. Web3 DevOps and blockchain infrastructure monitoring are included at the SLA tier.

Deliverables

What you receive

Every Blockchain Professionals engagement closes with a defined set of deliverables. Nothing is retained. All IP and source code transfer to the client on final payment.

Audited and source-verified smart contracts

Production-ready contracts with the external audit report, findings log and resolution documentation.

Trigger specification and basis-risk report

Written specification of every trigger condition, oracle selection rationale and measured basis-risk score from the historical dataset.

Deployment runbook

Step-by-step mainnet deployment procedure, role assignment, multi-sig configuration and emergency pause protocol.

Oracle integration documentation

Data feed specifications, fallback logic, latency SLA and monitoring thresholds for every oracle integrated.

API and SDK documentation

Off-chain integration layer documentation, including endpoint specifications, authentication patterns and event schema.

Knowledge-transfer session

A recorded handover session with the Blockchain Professionals architects, covering architecture decisions, upgrade paths and sustain procedures.

Engagement terms

How we reduce your engagement risk

We structure every engagement to protect the client. These are standard terms, not special concessions.

Free scoping session

A 90-minute discovery call with a Blockchain Professionals architect is free of charge. We scope the product, identify the oracle candidates and give a written timeline estimate before any contract is signed.

Fixed-price discovery phase

The discovery and trigger specification phase is available as a fixed-price EUR 14,000 engagement. The output is a written trigger spec and basis-risk report you own and can take to any provider.

Client owns all IP and source code

Every contract, script and document produced under an SOW transfers to the client on final payment. No licence fees, no vendor lock-in, no retention clause.

Audit-pass commitment

We include one full revision cycle in response to external audit findings within the fixed-scope price. We do not ship until critical and high findings are resolved.

No vendor lock-in

We use open-source frameworks (Hardhat, Foundry, OpenZeppelin) and document all architecture decisions. Your in-house team or any subsequent provider can continue the work without rebuilding from scratch.

Defined exit and handover

Any engagement can be terminated on 30 days notice. The exit package includes all source code, documentation, deployment keys (where safe) and a two-hour handover session.

First two weeks on any fixed-scope or team-embed engagement: week one is discovery: trigger specification workshop, oracle candidate review, regulatory mapping; week two is architecture sign-off: smart contract architecture document, chain selection memo and collateral model approved by the client before build begins.
Leadership

About the founder

Oliver Hayes

Founder and President · LinkedIn ↗

  • MEng Computing, Imperial College London (2008)
  • Engineering lead at a digital insurer (2009-2013), built claims automation at a reinsurer
  • Specialisation: oracle design, parametric triggers, claims automation, smart contract insurance
  • Founded Blockchain Professionals in Dublin, 2013

I came to blockchain from the claims desk, not from crypto. My first job after Imperial was at a digital insurer where I built the claims automation layer, and then at a reinsurer where I saw the same manual reconciliation problem at a larger scale. When smart contracts became viable for financial settlement, I knew exactly where to point them.

The lesson that shaped everything came in 2017. We had built a flight-delay parametric product where the trigger was completely objective: delay over 60 minutes, pay the claim. But the manual process still took weeks. The trigger was right, the data was right, the decision was already made by the oracle, but a human had to touch it before the money moved. I rebuilt the payout layer that winter. "Pay the claim before the customer has to ask" has been rule one on every engagement since.

Read the foundational research: "Parametric Settlement: Oracle-Triggered Claims and the End of the Claims Queue" by Oliver Hayes. Research Note BPRO-2026-06, 26 pages, March 2026.

Ask the founder a question
Blockchain Professionals Research

Parametric settlement: oracle-triggered claims and the end of the claims queue

Research Note BPRO-2026-06 26 pages · March 2026 Oliver Hayes and the Blockchain Professionals engineering team

Abstract

This note analyses 63 parametric claim events between 2022 and 2025, decomposing each claim cycle into verification time and administrative time. Across the dataset, 88 percent of claim-cycle time was administrative: submission, acknowledgement, queue processing, adjuster assignment and approval routing. The trigger was already determined; only the movement of money was delayed. We present the oracle-trigger and automated-payout protocol Blockchain Professionals has applied across 73 production contracts as part of a scalable DeFi platform development approach adapted for regulated insurance: smart contract CI/CD, on-chain data indexing and formal trigger specification. We quantify its effect on payout latency, dispute rate and claims-operations cost across three production deployments.

Key findings

  • 88% of claim-cycle time in the dataset was administrative, not verification
  • Oracle-trigger and automated-payout protocol cut median payout from 18 days to 84 seconds
  • Dispute rate fell 74% across production deployments using objective oracle triggers
  • Claims-operations cost at Aileach Insurance fell 62% in the first year post-deployment

Available on request to qualified parties under NDA. Request the full PDF →

Verified client reviews

Reviews

Blockchain Professionals holds a 4.85 average across 53 verified reviews on Clutch and G2.

Stefan Reinhardt

Head of Cession, Rheinpark Re

★★★★★

We went from weeks of manual reconciliation to hours of automated settlement. EUR 180 million in capacity is now tracked transparently on-chain. Our cedants can see the position in real time. This is what the reinsurance market should look like.

Settlement weeks → hours

Eoin Brady

COO, Tramore Mutual

★★★★★

We issue parametric crop insurance to 140,000 farmers. When a drought trigger fires, the oracle pays the claim before the farmer has even called us. The complaints we used to get about slow claims have essentially stopped.

140K policies · oracle-triggered

Marta Oliveira

Product Director, Vantage Brokers

★★★★★

Blockchain Professionals did the one thing most blockchain shops cannot do: they explained our product to regulators. The Central Bank of Ireland innovation-hub engagement they helped prepare opened doors that would have taken us years otherwise.

Regulatory-ready delivery

David Klein

VP Engineering, Solora Insurance

★★★★★

We had a claims queue. Now we do not. Blockchain Professionals removed it entirely with their oracle-triggered automation. No one is waiting for an adjuster because the adjuster is the oracle and the oracle is always on.

Claims queue eliminated
Certified and recognised

Certifications and awards

  • ISO/IEC 27001:2022 Certificate BPRO-IS-2026-0556, issued by NSAI (National Standards Authority of Ireland), valid through 2029-06-15 Verify ↗
  • SOC 2 Type II Report BPRO-SOC-2026-H1, Security and Availability TSC, by BARR Advisory Verify ↗
  • GDPR DPIA completed Data Protection Impact Assessment completed for policyholder data handling. GDPR Article 35 compliant. Read more ↗
  • Clutch Top Blockchain Developers 2026 4.9 / 5 from 31 verified reviews. Insurance and FinTech category. View on Clutch ↗
  • G2 High Performer Winter 2026 Smart Contract Development category, 4.8 / 5 from 22 reviews View on G2 ↗
  • Dublin Insurtech Award 2025 Best Parametric Innovation, awarded at Insurtech Dublin 2025. Recognising the oracle-triggered payout protocol. Read citation ↗

Where our engineers publish and speak

Last reviewed on 2026-06-15 by Oliver Hayes, Founder and President at Blockchain Professionals. Content reflects Blockchain Professionals delivery data as of the review date. Blockchain Professionals builds blockchain software for the insurance sector. We do not provide insurance advice, actuarial certification, legal counsel or investment advice.

Frequently asked questions

What does a blockchain development company do?

A blockchain development company designs, builds and deploys smart contracts, oracle integrations and blockchain infrastructure that run financial and insurance applications on a distributed ledger. Blockchain Professionals specialises in parametric insurance and automated claims, providing end-to-end blockchain development services: oracle-triggered policies that pay out in seconds and transparent on-chain reinsurance treaties for insurers, reinsurers and brokers.

How much does it cost to hire a blockchain development company?

Cost depends on scope. A parametric product build starts from EUR 48,000. A claims-automation platform runs EUR 90,000 to 260,000. An on-chain reinsurance programme starts from EUR 280,000. Time-and-materials work is billed at EUR 1,450 per engineer day. Sustain and on-call retainers start from EUR 12,500 per month.

How do I choose a blockchain development company?

Look for demonstrable niche depth, named engineers with verifiable credentials, audit-ready smart contracts and references from clients in your sector. For insurance use cases, verify that the team has experience with oracle design, basis risk modelling and regulatory engagement. Blockchain Professionals has shipped 73 production contracts with a security-first blockchain development record, served 40 insurers and brokers and holds ISO 27001 and SOC 2 Type II.

How do oracle-triggered parametric policies work?

The policy is encoded as a smart contract. The premium is held as collateral on-chain. An oracle monitors the agreed data source: flight status, weather sensor, commodity index. When the trigger condition is met, the oracle reports the event on-chain and the smart contract releases the payout automatically with no claims queue, no adjuster and no manual approval. Our average payout time is under 90 seconds.

What is on-chain reinsurance?

On-chain reinsurance writes the reinsurance treaty as a smart contract on a public blockchain. Capacity, premiums and settlements become visible and auditable to all parties in real time. Cession is automated rather than reconciled manually. Blockchain Professionals has delivered on-chain reinsurance programmes with EUR 180 million in capacity tracked transparently, cutting settlement cycles from weeks to hours.

What chains do you support?

Ethereum, Base, Arbitrum One, Polygon PoS, Avalanche C-Chain, Gnosis Chain, Optimism and Solana. Chain selection for insurance use cases depends on gas cost, finality time and regulatory acceptability. For multi-chain parametric programmes, we handle cross-chain integration across selected networks. We advise on the right chain and cross-chain architecture for each product during discovery.

How do you handle basis risk?

We model basis risk during discovery by analysing historical trigger data against actual loss events for the proposed product. We select oracles with the lowest measured divergence, calibrate thresholds against the historical dataset and write the trigger condition into the policy specification before any smart contract is written. Basis risk is an engineering constraint, not an afterthought.

What certifications do you hold?

ISO/IEC 27001:2022 (Certificate BPRO-IS-2026-0556, issued by NSAI, valid through 2029-06-15), SOC 2 Type II (Report BPRO-SOC-2026-H1, by BARR Advisory), GDPR DPIA completed and Central Bank of Ireland innovation-hub engagement. Our blockchain security engineering practices are validated by both certifications. We also hold Clutch Top Blockchain Developers 2026 and G2 High Performer Winter 2026.

How long does a typical parametric project take?

Discovery and trigger specification: 3 to 4 weeks. Parametric product build (single peril, single chain): 8 to 12 weeks. Claims-automation platform: 12 to 20 weeks. On-chain reinsurance programme: 16 to 28 weeks including audit. These are ranges from our production delivery history; scope, chain complexity and regulatory requirements affect actual timelines. Our blockchain technical discovery process defines scope before we commit a number.

What should I look for in a blockchain development company for insurance use cases?

Look for production case studies with named insurance clients and measurable outcomes, external smart contract audits with zero or low critical findings, demonstrated basis risk modelling capability, and ISO 27001 or SOC 2 certification for policyholder data security. Blockchain Professionals has served 40 insurers and brokers, holds ISO/IEC 27001:2022 and SOC 2 Type II, and treats basis risk modelling as a phase-one engineering deliverable.

What is basis risk in parametric insurance development?

Basis risk is the probability that a parametric trigger pays when no real loss occurred (or fails to trigger when a loss did occur). It is caused by imprecise oracle selection or poorly calibrated thresholds. A specialist blockchain development company models basis risk in discovery, analyses historical trigger data against actual loss events, and writes a calibrated trigger spec before any smart contract is written. Blockchain Professionals quantifies basis risk on every engagement as a deliverable, not a caveat.

What data security certifications matter when hiring a blockchain development company?

ISO/IEC 27001:2022 (information security management) and SOC 2 Type II (security and availability) are the two certifications that directly cover how a development partner handles your policyholder and claims data. Blockchain Professionals holds both: ISO certificate BPRO-IS-2026-0556 issued by NSAI (valid through 2029) and SOC 2 Type II report BPRO-SOC-2026-H1 audited by BARR Advisory.

Glossary of technical terms
Parametric insurance
Insurance that pays a pre-agreed amount when a measurable trigger event occurs, with no assessment of actual loss. Payment is determined by objective data rather than loss adjustment.
Oracle
A service that feeds real-world data (flight delay status, weather sensor readings, commodity prices) into a blockchain smart contract so the contract can evaluate trigger conditions automatically. Oracle integration is the most technically demanding aspect of parametric insurance development; oracle risk management determines whether the product is trustworthy at scale.
Trigger condition
The measurable threshold defined in a parametric policy that, when confirmed by the oracle, causes an automatic payout. Examples include flight delay exceeding 60 minutes or rainfall below a seasonal threshold.
Automated claim
A claim that executes automatically when an oracle confirms the trigger condition, with no manual submission, assessment or approval step.
On-chain reinsurance
Reinsurance treaties written as smart contracts on a public blockchain, making capacity, premiums and settlements visible and auditable to all parties in real time.
Treaty
A reinsurance agreement that covers a portfolio of risks automatically, as opposed to facultative reinsurance which covers individual risks case by case.
Cession
The transfer of a portion of an insurance risk from the insurer (cedant) to the reinsurer. On-chain cession makes the transfer transparent and removes manual reconciliation.
Payout latency
The time between trigger confirmation and funds arriving in the policyholder's wallet. Blockchain Professionals' oracle-triggered system averages under 90 seconds. Reducing payout latency is one of the core arguments for on-chain development over legacy claims systems: transaction safety is guaranteed by the smart contract, not by an operations team.
Smart contract policy
An insurance policy encoded as a self-executing smart contract that holds the premium as collateral and releases the payout automatically when the oracle confirms the trigger.
Basis risk
The risk that the parametric trigger pays out when no actual loss occurred, or does not pay when a loss did occur. Good trigger design minimises basis risk through careful oracle selection and threshold calibration. In a DeFi risk controls context, basis risk in parametric insurance is analogous to model risk in algorithmic finance: a quantifiable engineering problem, not an operational one.
Update log
  • 2026-06-15 Initial publication of the Blockchain Professionals landing. Documented the Aileach Insurance, Rheinpark Re and Tramore Mutual case studies, the oracle-trigger methodology and Research Note BPRO-2026-06. Verified all chain coverage, pricing bands and audit metrics.
  • 2026-03-01 Published Research Note BPRO-2026-06 on parametric settlement after analysing 63 parametric claim events.
  • 2026-01-10 Renewed ISO/IEC 27001 certification with NSAI through 2029. Added Gnosis Chain to the supported chain set.
Editorial policy

Every page on blockchain-development-company.lol is owned by a named author and reviewed at least once per quarter. Statistics, pricing bands and timelines are sourced from internal delivery records and validated against the most recent quarter before publication.

Sources of truth:

  • Policy counts and claims volumes come from production telemetry in our internal analytics system
  • Payout latency figures come from on-chain transaction timestamps, oracle confirmation block and payout execution block
  • Client metrics are reproduced verbatim from signed case-study agreements
  • Market context citations link to the underlying public report; we paraphrase but do not modify the cited figure

Corrections: if you find an error, email editorial@blockchain-development-company.lol with the URL, the line and the correction. We acknowledge corrections within 1 business day and publish them in the update log with a date stamp.

Independence: Blockchain Professionals has no paid sponsorships on this page. Tool mentions are factual references to software we use; none are advertisers.

Privacy policy

Last updated: 2026-06-15

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Terms of service

Last updated: 2026-06-15

By accessing blockchain-development-company.lol you agree to these terms. The page is provided as marketing information about Blockchain Professionals services.

1. No advice. Nothing on this page constitutes legal, financial, investment, insurance, actuarial or regulatory advice. Blockchain Professionals builds blockchain software. We do not provide insurance advice, actuarial certification, legal counsel or investment guidance.

2. Scope of services. Engagements with Blockchain Professionals are governed by a separate signed Statement of Work. Pricing bands and timelines on this page are indicative ranges from prior projects, not binding offers.

3. Smart contract risk. Smart contracts deployed at client direction carry inherent risk including code-level vulnerabilities, oracle manipulation, chain reorgs, oracle downtime and economic model exploits. Blockchain Professionals warrants delivery of audited code per the SOW, not the absence of all possible risk.

4. Intellectual property. Page content is © 2013-2026 Blockchain Professionals Ltd. The Blockchain Professionals name and shield-bolt mark are unregistered trademarks. Reuse with attribution is permitted for non-commercial commentary and journalism.

5. Limitation of liability. To the maximum extent permitted by applicable law, Blockchain Professionals is not liable for indirect, incidental, special or consequential damages arising from your use of this page or any content linked from it.

6. Governing law. Irish law. Exclusive venue: courts of Dublin, Ireland.

Certifications and verification

ISO/IEC 27001:2022, Information security management

  • Certificate number: BPRO-IS-2026-0556
  • Issuing body: NSAI (National Standards Authority of Ireland)
  • Issued 2026-06-15, valid through 2029-06-15
  • Scope: information security management for blockchain software development services and supporting infrastructure

SOC 2 Type II

  • Report ID: BPRO-SOC-2026-H1
  • Trust Services Criteria: Security and Availability
  • Audited by: BARR Advisory
  • Full report available on request to procurement teams under NDA.

Regulatory and assessment

  • GDPR Data Protection Impact Assessment (DPIA) completed for policyholder data handling
  • Central Bank of Ireland innovation-hub engagement (ongoing)
  • MiCA-compliant development practices for token-related engagements

To request copies of any certificate or the SOC 2 report, email security@blockchain-development-company.lol from a corporate domain.

Get in touch

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