Insurance Trade Group Launches Blockchain Research Effort
An insurance and reinsurance industry trade organization headquartered in the UK is launching a new blockchain research project.
An insurance and reinsurance industry trade organization headquartered in the UK is launching a new blockchain research project.
The organization is working with research outfit Z/Yen on the initiative, which according to statements seeks “to create a common view of the potential benefits that smart contracts could bring”.
Justin Emrich, who serves as CIO for Atrium Underwriters, said in a statement:
The London Market Group added that it plans to develop additional reports focused on the technology, including educational materials for organization members.
The announcement comes weeks after a group of European insurers and reinsurers announced that they would form a blockchain consortium in a bid to collaboratively develop applications. The companies are weighing whether the tech might lead to material changes in how they do business. The insurance industry as a whole has been looking at potential use cases, driving activity in the startup space.
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