The author Douglas Adams once said, “We are stuck with technology when what we really want is just stuff that works.” Many of us can relate, especially with new technology such as distributed ledger technology (DLT), also known as blockchain, …
It’s time to rethink the limits of parametric insurance. The concept behind parametric insurance is not new. Insurance payouts automatically triggered by an event exceeding an index level have existed for decades. It’s traditionally been applied to events like natural …
A blockchain-driven risk and capital exchange for the insurance and reinsurance market is set to be launched in Bermuda later this year by ChainThat. The exchange will allow broker, reinsurance and insurance companies access to the capital markets using blockchain. …
When insurance experts are asked what they see as the most important emerging risk for the property/casualty insurance industry, their consensus is cyber in some form. While cyber obviously poses tremendous risks, some experts are also eyeing a variety of …
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 …
InsurTech startup InsurePal (now known as VouchForMe) is developing an insurance platform that aims to revolutionize the industry’s model for risk selection and fraud prevention by “social proofing” insurance products. (Editor’s Note: When this feature was originally published in February …
Smart contracts were supposed to revolutionize finance. So far, however, they have proven adept mainly at helping people lose their money. The digital contracts make use of blockchain technology to get around trusted intermediaries like banks. Let’s say you want …
Xceedance, the provider of insurance consulting, managed services, technology and data sciences, announced a multi-million dollar “Series A” equity investment in ChainThat, a London-based blockchain specialist company serving the re/insurance industry. While the amount of the equity investment was not …
Etherisc, a Zug-Switzerland-based insurance platform startup, has begun offering blockchain-based flight delay insurance, called Flight Delay, which automates the process of getting an insurance payout in case a flight is canceled or delayed. “The frustration of a flight delay or …
Consultancy EY, data security firm Guardtime, Microsoft and ship operator Maersk have joined to build a blockchain-based marine insurance platform that will be the first real-world use of the nascent technology in the shipping industry. EY and Guardtime said the …
