blockchain in insurance News

Marsh Develops Blockchain Solution for Clients in Sharing Economy

Marsh announced that it is developing the first blockchain-based verification solution for clients in the fast-growing sharing and gig economies. Working in collaboration with Evident, a data security platform that allows businesses to run comprehensive, accurate verifications without handling sensitive …

Marsh Makes Blockchain Proof of Insurance Accessible Through Salesforce

Insurance broker Marsh is expanding its collaboration with IBM to provide clients with access to the industry’s first commercial blockchain product for proof of insurance through the Salesforce customer management platform. Blockchain technology promises to automate and streamline the proof …

What’s Next for Major Blockchain Firm R3? IPO or Sale?

R3, a blockchain-software company that works with more than 200 heavyweights such as Intel Corp., Microsoft Corp., US Bancorp and Wells Fargo & Co., is considering going public, according to people familiar with the matter. The company is speaking with …

Insurers May Not be Able to Avoid Blockchain, Virtual Currencies ‘Sweeping Through Industry’

Insurers need to be thinking about blockchain technology and virtual currencies like bitcoin and how to approach these areas of emerging risk as they become harder to ignore, according to panelists at the 2018 Professional Liability Underwriting Society (PLUS) Directors …

eReinsure Adds Blockchain Services to Reinsurance Technology Platform

eReinsure.com, Inc., a global specialty insurance distributor and part of AmWINS Group, will offer a blockchain service linked to its reinsurance platform to help companies share information. According to Igor Best-Devereux, CEO of eReinsure, blockchain’s distributed ledger capabilities could facilitate …

New Product Uses Blockchain to Show Proof of Insurance

The Institutes’ work with insurers in the blockchain space has led to a debut product – a tool designed to establish proof of auto insurance. Nationwide is the first carrier to bring it to production and is already in testing …

Blockchain Firm Bitfury Teams with Insurance Broker Risk Cooperative

Blockhain technology company The Bitfury Group said it is partnering with the Washington, D.C. insurance advisory and brokerage firm Risk Cooperative to pioneer blockchain applications in the $60 billion insurance intermediation market. The Bitfury Risk Cooperative partnership seeks to leverage …

AIG ‘Smart’ Policy Uses Blockchain to Manage International Coverage for Bank

American International Group Inc. and Standard Chartered Bank plc announced they have successfully piloted what they say is the first multinational, “smart contract” based insurance policy using blockchain, a distributed ledger technology. Noting that coordinating management and placement of multiple …

Corporate Venture Arm of CNP Assurance Leads Investment in Blockchain Startup

U.S. exchange group Nasdaq Inc has joined a 7 million-euro ($7.9 million) investment round in Stratumn, which helps companies develop applications using blockchain technology, the Paris-based startup said on Thursday [June 8]. The investment was led by Open CNP, the …

Brave New World: 1st Reinsurance Product Heads to the Blockchain

Second of Two Articles There has been a lot of press – and perhaps hype – about blockchain and its potential to revolutionize the industry’s processes and ultimately improve the customer experience. However, the efforts of the industry’s B3i initiative …