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…
R3 runs a consortium with over 80 members on a blockchain inspired distributed ledger platform called Corda. R3’s Corda platform has been designed and built taking into account requirements such as data privacy/confidentiality and transaction scalability of financial institutions in mind.
In our previous post, we introduced Hyperledger Fabric v1’s architecture components and some common design patterns that we could use with it. This post will discuss the prospects of using Fabric driven consortium based blockchain network for commercial and reinsurance use cases.