IAC™ Society has been designed as a membership based organisation of individuals and small teams with a core focus on innovation, expansion and assuring safety, soundness and fidelity of IAC™ Marketplace, its IAC™ Insurers and Marketplace Participants who associate and transact global risk transfer and mitigation.
Transitioning from a handshake and a vault, coins, gold and currency, to digital assets | currency, to advanced devices, our world has become reliant on "trustless" systems.
IAC™ Society has a primary focus of maintaining HUMAN relationships and the importance of trust between individuals and groups.
Innovation expands to benefit humankind and improves quality of life only with mutual trust and courage to risk ...
A core premise of a Decentralised Autonomous Organisation is a trustless system, a core insurance principle is "trust" among associates.
EVOLVING A TRUSTED HUMAN NETWORK ....
Across n number of trustless DIGITAL NETWORKS ....
For more than 330 years, Lloyd's of London developed an extensive global network of trusted parties, bringing the world to their extraordinary risk marketplace, innovating advances in communication and technologies.
For 30+ years, IAC™ Insurers maintained the highest ratings by international rating agencies. Similar to Lloyd's, they are subject to their own Act of Parliament. IAC™ Insurers have globally patented and operationally prototyped advances in assurance, insurance and financial guaranty; and their Principals were early pioneer in convergence of insurance and capital markets.
In fact, its Principals invented and patented "insurance securitisation" and "loss mitigation" technologies. The concept of IAC™ Marketplace was in the original patent filings in 1994.
Investors Guaanty Fund, Ltd. and its subsidiaries are now in the process of transitioning to the latest in digital asset | currency architecture combined with battle-tested and highly rated risk technologies, as IAC™ Marketplace.
A part of this transition involves establishment of an International Sponsor Organisation ("ISO") compliant with Alliance iii.o PROTOCOL, as parent of all IAC™ Insurers ,including IGF and its three core insurance subsidiaries.
IAC ISO is to be owned by the four non-profit charitable | educational foundations established by IGF's President Emeritus, Alasdair G. "Sandy" Barlcay in 2001, establishing the original model for "Sponsor" organisations under Alliance iii.o.
In addition, IAC ISO is establishing the "IGF Society", originally a membership association designed to evolve trusted parties whose mandate and roles through future decades are designed as a catalyst of innovation and protector of integrity, trust and "performing what we promise. " The Society is designed as a digitally supported vanguard of global IAC™ Ecosystem members.
In addition, the same model may be applied to one or more IAC™ Cube instances.
ISO™ Society may be viewed as the historic group of IGF Principals and newly invited parties who are mutually agreeable to assisting in the DX - Digital Transformation of IGF and its core insurance subsidiaries and services units into IAC™ Marketplace as a global digital risk marketplace.
Operating initially as an association and perhaps subsequently as a DAO, IAC™ Society will not have a traditional corporate management hierarchy, but rather a new form of digital PROTOCOL based voting governance organisation.
A DAO generally has no central location, is self-governing, with a flat governance structure, and perhaps a contracted limited administrative and technology services arrangement.
Its members may have one vote per person or be structured in a manner designed to increase individual votes based on contributions to the DAO, additional benefit created by the member and actions taken by a member to increase vote.
A DAO may have some form of digital asset or currency which may be available to the public, only to its members or some combination of the two approaches.
DAO establishes its governance structure and operations in a PROTOCOL, which is written into digital code and operates electronically.
IAC™ Society is expected to consider if some form of DAO may be an optimal organisation structure for its members and to achieve objectives agreed with IAC ISO.
ISO™ Society's proposed PROTOCOL has as a core governance element a focus on its membership representing a broad range of cultures, peoples, geographic areas and diversity.
As an association or perhaps DAO with no jurisdictional situs,
member activities globally are designed to limit exposure of any IAC™ Insurer to any jurisdiction other than Bermuda, under which IGF and all IAC™ Insurers and IAC™ Marketplace Participants are subject to the IGF Act and applicable regulations.
Similarly, IAC™ Marketplace Participants interacting with IAC™ Insurers, do so only in Bermuda.
IAC™ Marketplace is designed to structurally limit exposure to systemic and jurisdictional risk.
The Society's role involves observation and awareness, creativity, development of new initiatives, facilitation of new IAC Cube™ instances, new uses of modular components, marketing activities, social media influencing, building new relationships, expanding new forms of DeRisk, and much more ....
IAC™ Society contemplates invitations to IGF Principals, Investors Guaranty™ Principals (OneGlobal Identity innovators) and participants facilitating development of new initiatives broadly described as Alliance iii.o Protocol, hereafter referred to as Lighthouse Philanthropies collaborators. Lighthouse Philanthropies shall form the initial collaboration team.
In creating the "genesis" block of IAC™ Society, it is proposed to undertake an initial membership campaign to establish "core collaborators", for the purpose of further developing the mission, purpose and objectives of IAC™ Society, achieve mutual agreement of reciprocal activities with IAC™ Marketplace, and draft an initial operating framework which may serve as a core "governance protocol" for a decentralised form of governance of IAC™ Society.
While the early proposal (patterned after the OneGlobal Association for personal privacy and identity - circa 2003) has a series of membership classes, the initial framework is proposed to include five genesis classes:
Fees for genesis members are proposed to include an initial year fee and subsequent annual fees to be determined by the results of the collaborative process in creating the IAC™ Society Governace Protocol.
Foundation Members - An initial one-time grant to be negotiated, with no periodic fees.
Senior Fellows - Genesis Membership Fee - USD$[ ]. Senior Fellows may make additional contributions.
Fellows - Genesis Membership Fee - USD$[ ]. Fellows may make additional contributions.
Associate - Genesis Membership Fee - USD$[ ].
Technologists - [This is about news $[ ].
Social Media Influencers - [This is about news $[ ].
Supporter
- [This is about news $[ ].
Member voting, participation, and authorisations are subject to contributions, efforts and results of each member.
Individual Senior Fellow Genesis Membership Fee and additional membership contributions subject to a USD$[ ].cap.
Individual Fellow Genesis Membership Fee and additional membership contributions subject to a USD$[ ]. cap.
SPONSORs comprise a core team of Ecosystem developers and participants who benefit from a variety of financial and operational benefits derived from an ECOSYSTEM. An IAC™ Cube or grouping of IAC™ Cubes may be considered an Ecosystem.
Technologists, advisors and financial sponsors may facilitate configuration and funding of an Ecosystem's implementation and operations framework. Financial benefits may include interest on configuration advances, long-term participation in intellectual property revenues, as well as revenue and capital gains allocations related to components, funding activities, specialty products, collaboration and other Ecosystem activities.
PUBLIC ACCESS
For 30+ years IGF and affiliated insurers have provided private risk | funding solutions. Capital holders are private parties including several non-profit foundations.
As IAC™ Insurers transition to a marketplace approach, various forms of public participation are being developed.
POLICY HOLDERS
[Re] Insurance Policies, Financial Guaranty, Guaranteed Investment Agreements and FlexGIA™ are held through custodial depositories with regulated fiscal agents, who facilitate initial issuance and applicable payments.
Applications may only be submitted through regulated participants.
CAPITAL PROVIDERS
Policy Collateral, Risk-Linked Obligations, Certificates of Residual Interest are held through custodial depositories with regulated fiscal agents, who facilitate initial issuance and applicable payments.
IAC™ Currency may be available in the future directly through digital wallets.
M
ARKET PARTICIPANTS
Primary risk and funding operations are designed to include regulated insurance and capital markets professionals.
Syndicate participation and digital assets | currency activities are evolving through IGX™ connected third-party infrastructure utilities involving regulated trustees and custodians as required by IGF Act.