blockchain

How early insurance blockchain adopters are driving practical value

As we roll into 2019, with renewed optimism and expectations, I like to reflect and look back at the year that was for blockchain in the insurance industry. Most reported efforts in the last two years were driven by industry innovators looking to learn about how to work with the technology. I worked with a […]

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Hot insurance sessions at IBM Think 2019

With such a great lineup of education and activities for insurance leaders at IBM Think from February 12-15  in San Francisco this year, planning your agenda will be tough. While there is a great array of insurance-specific sessions from which to choose, the sessions below are highly recommended. These sessions include insurance leaders in auto, […]

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Building trust in insurance through blockchain

  To a capacity Las Vegas meeting room that saw attendees sitting on the floor and lining the walls due to every seat being filled, it’s clear that interest in blockchain in the insurance industry has reached a fever pitch. At InsureTech Connect, a panel of insurance visionaries assembled to share their first-hand experience of […]

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InsureTech Connect: A front row seat to the thriving insurance technology industry

As the seasons transform from summer to autumn in the US, that means getting back to conference and event season. An event that is quickly becoming a fall tradition for IBM is participating in the annual InsureTech Connect conference. No longer just a subset of the fintech industry, the insuretech market has grown exponentially, and IBM Insurance has had a front […]

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AAIS and IBM begin new chapter of blockchain in insurance

Timing may not be everything, but in life and business it is a critical element for success. When it comes to blockchain in insurance, we may have just witnessed the perfect confluence of timing with people, process and technology. The American Association of Insurance Services (AAIS) is one of just two US insurance ratings and […]

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Blockchain for insurance delivers trust: A use case with Marsh, ACORD and ISN

Business agreements among multiple parties involve a lot of moving parts – a recipe for friction. With blockchain, aka distributed ledger technology, insurers and insureds can permission, validate and trust each other, sans the friction. In this case study Marsh, ACORD and ISN created one of the first instances of a commercial digital proof of […]

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Parametric insurance: Breaking the mold of traditional insurance

Because extreme weather events are now seemingly more common than ever before, insurance claims are seeing record increases, and the demand for disaster insurance is reaching unprecedented levels. Insurance companies are being challenged to offer new ways to respond to these disasters, both to expedite relief for their clients and to develop cost-friendly and profitable products, all […]

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Insurance APIs: The new insurtech embrace

The insurance industry is rarely noted for innovation. The traditional insurance business model has been in place for centuries, founded on stability and consistency of customer relationships based on sustained trust. Indeed, in 2007 the Competitive Enterprise Institute concluded that, “Since…1959, the [insurance] industry has not introduced a single entirely new property and casualty insurance […]

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5 Ways blockchain is changing the complex world of reinsurance

Calamity strikes. You’re okay, your family is okay, your property isn’t, so you call your insurance company, and then, you wait. We’ve heard stories of people frustrated by slow claims processing and payment in the aftermath of disaster. The delay isn’t often due to the enormity of damage—the delay is mainly due to the complexity […]

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Helping AIG innovate on its multinational insurance programs with blockchain

One of the challenges many companies face when evaluating a new technology is identifying how it could best be applied to solve a real business issue. Blockchain is no exception—for many years within the insurance industry, it has been viewed as the proverbial “hammer looking for a nail.” Not anymore. When AIG announced that they […]

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Blockchain-based insurance

As I pointed out in my last blog, blockchain technology is set to revolutionize the insurance industry. Yet the technology can be so complex that the applications can get lost. That complexity may be why I often hear my customers say, “I’ve heard a lot about blockchain technology. Tell me why I should care.” Here’s […]

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The building block of an insurance revolution

What do insurers like Allianz, Consuelo, Lloyd’s and Manulife have in common? While they span markets and size, each is exploring a leading-edge technology that promises to unleash new efficiencies within the insurance industry. By improving transaction transparency, this technology can strengthen the trust upon which the industry relies. And by automating transparency, companies within […]

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