We are frequently asked what advantages blockchain solutions have over more traditional tools. Our latest opinion piece promises to equip you with a thorough understanding of why blockchain is a natural fit for the commercial insurance and reinsurance industry.
Blockchain adoption in the insurance sector is poised for exponential growth in 2019, as awareness rises of the multi-billion-dollar savings this technology can bring. If 2018 was the year in which the industry became aware of the full scale of its expense and efficiency benefits, 2019 could be the year in which these solutions are integrated into mainstream thinking.
Too often, the experience of IT innovation has been difficult to manage and expensive. This has been driven by the adoption of systems that have had a long roll out which has then additionally suffered delays and cost increases.
If you want to understand why blockchain technology is the ONE essential innovation insurance has been waiting for, watch Praveen Nagpal, our CTO, present to a non-insurance audience at the IIT in Madras. He explains how the current system works, and how smart contracts and distributed ledger technology bring transformational efficiency.
The global insurance market is facing its Kodak moment. Those who fail to innovate run the risk of being left behind. Across the insurance ecosystem, costs need to be cut, and innovation is no longer optional.
Insurance facility arrangements have become increasingly commonplace, consequently, this free article looks at the rise of Facilities and the challenges these arrangements bring and how blockchain technology overcomes them. Download the white paper here.
Integration between systems is the bane of the software engineer’s world. Linking to many and old counter-party systems takes time and gets expensive. Indeed, there is only one word scarier than ‘Integration’, and that’s ‘Transition’. We’re working on both right now.
Download the ChainThat & R3 joint white paper on Modernizing Commercial and Speciality Insurance Accounting with Blockchain Technology. We consider design principles for blockchain platforms in the insurance sector and examine R3’s Corda architecture. This white paper is suitable for business readers…