blockchain News

What Agents Should Know About Cryptocurrency Insurance Market

Cryptocurrency and blockchain entities may seem like a hot market for insurance agents looking to specialize, but right now there are not many insurers willing to write it. Before jumping in, agents would be wise to consider partnering with a …

Coordinated Global Regulation of Cryptocurrencies Needed: Circle CEO

Major economies should launch coordinated regulation of cryptocurrencies, the head of Goldman Sachs-backed startup Circle said on Monday, underscoring growing industry support for international rules on digital money. “Ultimately there needs to be normalization at the G20 level of critical …

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 …

Greenlight Re Invests in Hong Kong-Based Blockchain Business

A division of Greenlight Capital Re has invested in a blockchain-related business based in Hong-Kong. The Cayman Islands-headquartered property/casualty specialist reinsurer said it pursued a strategic investment in Galileo Platforms through its Greenlight Re Innovations arm. Greenlight Re did not …

Walmart Ready to Mandate Blockchain for Certain Food Suppliers

After several years of tests, Walmart Inc. is ready to mandate use of blockchain technology by a swath of its U.S. suppliers, marking one of its biggest commercial uses. Starting in September 2019, Walmart and its Sam’s Club division will …

Global Insurers Realize Innovation Is Critical for Future Success: A.M. Best Survey

A significant majority of global insurers understand that innovation is increasingly becoming a competitive differentiator in the global marketplace, according to the results of an A.M. Best survey of its rated entities. More than 80 percent of survey respondents said …

Industry Blockchain Initiative B3i Gets Ready to Go Live for January Renewals

The industry’s Blockchain Insurance Industry Initiative (B3i) announced a year ago it had developed a reinsurance blockchain prototype for a property excess-of-loss (XOL) contract and asked the industry to help test it. The initial results are in. Months of testing …

Crypto Prediction Market on Blockchain Raises Regulatory Concerns

The next confrontation between government regulators and a blockchain startup appears set to ensnare a prediction market platform that goes by the name Augur. After going live on July 10, Augur allows anyone to create contracts to predict future events …

Interest in Crypto Insurance Grows, Despite High Premiums, Broad Exclusions

In the staid and buttoned-up world of insurance underwriting, few want to talk about it. You won’t find many ads promoting it or details on company websites offering it. But according to industry insiders, there’s a hot new business that …

Strategic Blockchain: Xceedance and ChainThat Gain Critical Mass

Xceedance decided to jump on the blockchain bandwagon late last year – but rather than building its own platform, it invested in ChainThat, a specialist provider of blockchain solutions for the insurance and reinsurance industry. ChainThat made a similar move …