The Insurance Institute of London - In this IIL accident lecture Richard Boreham will introduce the key concepts that lie behind this new, headline grabbing, technology and explain why this is set to have a real impact on the way we work in the insurance industry
For several years Blockchain has been a regular item in the news seemingly inextricably linked with Bitcoin and the spectacular trading gains and losses made on this crypto-currency. This lecture looks beyond the world crypto-currency speculation, instead giving insights to the fundamental ideas that take us from centralised to decentralised working using Blockchain powered 'distributed ledgers'. Insurance markets with their networks of different competing and collaborating organisations are intrinsically distributed. This alignment between a decentralised market and a technology that supports and enhances decentralised activity begins to reveal the application and impact that this technology will have both to disrupt and energise the sector.
By the end of this lecture members would have gained an insight into:
- Introduction to Blockchain
- Why is it relevant to the insurance industry?
- Examples of current applications and thoughts for the future
Richard has led many strategy and transformation engagements for FTSE100 organisations including the construction of business strategies, operating models and change programmes, IT strategies, and many performance improvement programmes across the IT function including significant innovative sourcing deals. Since 2014 he has been consulting to Lloyd’s of London and the London Market Group where he led the development and delivery of the Target Operating Model for the use of ACORD Ruschlikon EBOT/ECOT in the London Market. He has also been deeply involved on the subsequent delivery programme: Post-bind Submission (PbS).
Ajit Tripathi, CFA, Partner, EMEA at Consensys Enterprise.