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

Article 0 Comments 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 contract and asked the industry to help test it. The initial results are in. Months of testing by 40 insurers, reinsurers and brokers did identify […]

ACORD Launches Data Toolkit for London Market Reinsurance, Big Commercial Risks

Article 0 Comments ACORD, the global standards body for the insurance industry, has launched an Adoption Toolkit to support the application of data standards for global reinsurance and large commercial risks in the London market. “The benefits of implementing data standards are being realized by stakeholders across the global insurance […]

First Blockchain for Marine Insurance Now Running

Article 0 Comments A blockchain that is said to be the first for $30 billion marine insurance is now in commercial use, according to a coalition of technology, insurance, marine and consulting businesses. EY, Guardtime, A.P. Møller-Maersk, Microsoft and insurance partners Willis Towers Watson, XL Catlin, MS Amlin and ACORD […]

Marsh Develops Commercial Blockchain Solution for Proof of Insurance

Article 0 Comments Marsh announced it is collaborating with IBM, ACORD and its client, ISM, to develop a commercial blockchain solution for proof of insurance. By using blockchain, or distributed ledger technology, Marsh said the certificate of insurance process will be transformed “from complicated and manual to streamlined and transparent, […]