The problem D3P project solves - COVID19 crisis revealed lack of prevention and shortfalls in protection for large shrinks of populations in EU. Self-employed or unemployed persons faced huge economic difficulties during and following hospitalization, in addition to pain, fear and sometimes loss of dear ones are the most symptomatic segment. This results in frustration and loss of confidence in traditional protection systems. And opens up a window of opportunity for actual solidarity based models applied at scale.

The solution D3P brings to the table - Inspired by what has been implemented in China before and during the Covid crisis, D3P solution is a Peer to Peer platform designed for sharing risks amongst aggregated members forming a community under a protection system that does not require ex-ante premium payment nor regulatory reserving mechanism but just an ex-post cost (splitting) sharing equation. The mechanism is ruled by smart contracts subscribed by community members. By sharing risks and pooling resources, such members can access significant protection covers in case of hospitalization, intensive care treatment or death, together with assistance services which are always needed in such circumstances. The model uniquely combines 1/fairness, as every member contributes for its fair risk exposure, 2/transparency as full community details and claims history is provided, 3/empowering as each member can apply for mediator role, a guarantee that the P2P scheme will always be ruled by the community.

What have we done so far - As of to date, D3P has an MVP for covering Italian self-employed or unemployed as well as salaried persons, and we developed the first draft of risk model for contribution allocation together with a clickable mock-up to navigate using Acrobat Reader in full screen mode. The Business model is based on B2B2C distribution through partnerships, to generate first in Italy, then in France and probably Spain significant number of users and community members. Based on first assumptions the P&L account shows there will be a positive EBITDA for the D3P BU of Datafolio, the service company promoting and validating the plan, starting from the third year. The D3P initiative is brought forward by a team of seasoned entrepreneurs who collectively have been investing in numerous of start ups and made many successful exits, with strong networking capabilities and experience in insurance, finance and digital.

The solution’s impact to the crisis - The solution brings a unique monetary relief to those who are worst hit in case of hospitalization hence supporting living standard and business continuity, paired with assistance services provided for by resources from within the community members or coordinated by them.

The necessities in order to continue the project - To launch the MVP Datafolio needs financing and filed for that purpose an EIC SME 2020 Application in March. The grant of that financing is key for the launch of the initiative with development to start in May. In addition Datafolio team is looking for strong EU Commission support to overcome potential local legal and compliance issues. Subsequent to the Pilot phase, to initiate in June, and to put in production the Italian MVP in October, Datafolio will need investors support to scale up the model to new European geographies, France and another.

The value of D3P after the crisis - The D3P initiative creates a new standard for protection and prevention which resonates perfectly well in the current crisis, but which could be generally speaking the best complement to State and Insurance risk carrying in case of other pandemic and even more for all untaped coverage needs of the people. It creates a new standard for protection and prevention by empowering people to act with responsibility and vista to tackle this crisis and improve protection and risk prevention standards as a whole in a worldwide critical economic context on top of the sanitary crisis. The lesser the risks, the lesser the costs, the better the living standards.

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