从保险科技看风险的可保性
余鳳全
上海财经大学金融学院，上海
摘要：在不确定性高度存在且交易成本显著的现实情境中，传统保险市场结构正面临制度性挑战。本文基于科斯定理的制度边界逻辑，探讨保险科技如何通过压缩信息成本、优化风险治理机制与重构商业模式，有效提升风险的可保性。文章分析保险价值链与信息管理六层架构中的技术介入，强调其制度功能不止于运营效率，更在于改善信息分布与资源配置。通过“大数法则”中的数量与质量双维度，本文指出风险信息可得性的提升可重塑风险转移曲线，将促使保险、再保险与资本市场结构趋于融合。在平台化与结构创新的趋势下，P2P保险、参数型合约与链上治理等新兴机制挑战既有市场角色划分。最终指出，保险科技不仅是技术革新，更是制度演进的关键动力，有助于扩大保险市场边界，提升公平性与风险保障能力。
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[5] K. H. Borch, ‘A theory of insurance premiums’, Geneva Papers on Risk and Insurance, pp. 192–208, 1985.
[6] J. D. Cummins and M. A. Weiss, ‘Convergence of insurance and financial markets: Hybrid and securitized risk‐transfer solutions’, Journal of risk and insurance, vol. 76, no. 3, pp. 493–545, 2009.
[7] M. Eling and M. Lehmann, ‘The Impact of Digitalization on the Insurance Value Chain and the Insurability of Risks’, The Geneva Papers on Risk and Insurance. Issues and Prac- tice, vol. 43, no. 3, pp. 359–396, 2018.
[8] C. Biener, M. Eling, and J. H. Wirfs, ‘Insurability of Cyber Risk: An Empirical Analysis’, The Geneva Papers on Risk and Insurance. Issues and Practice, vol. 40, no. 1, pp. 131–158, 2015.
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