Reinsurance is a Trillion Dollar market… and it still runs on slow, opaque, expensive bullshit deals.

Simple example:
An insurer is staring down a brutal wildfire season.
Today → they lock up capital with a reinsurer, pay fat fees, and pray the model was right.
Now put it on HIP-4:
“Losses > $1B”
“Losses > $3B”
“Extreme season”
Each one = a live, tradable market.
Risk isn’t negotiated anymore. It’s traded.
Capital flows in from anywhere in the world. Pricing moves in real time.
You can slice the exposure like options, hedge dynamically, even get out mid-season if you want.
Instead of all those layered fees, you’re looking at something like ~7 bps to close.
Same risk. Totally different market.
If this works, insurers finally get real liquidity.
Hyperliquid.