Blockchain

Spun off from auto and home insurtech Cover, the blockchain-based reinsurance platform logs $35 million in coverage year-to-date

Digital Insurance spoke with Sarah Downey, managing director, blockchain advisory leader and financial services claims leader at Lockton Companies, the global insurance brokerage firm.

For example, a smart contract-enabled parametric insurance product could be designed to automatically pay out to farmers in the event of a drought.

Ukrainian pet insurance start-up expanding its U.S. reach and product offerings

InsurAce, Nexus Mutual cover losses on basis of custody

Blockchain-based data consortium works to adapt FNOL and title information services through Guidewire.

The main opportunity comes from the ability to optimize workflows and offer better pricing models.

Communications, parametric coverage and managing data are among the applications taking hold

'Crypto' and 'volatile' currently seem to go hand-in-hand as the insurance cautiously navigates a 'wild west' crypto landscape.

A blueprint for a shared ledger for digital money would include central bank digital currencies, bank deposits and e-money from companies like PayPal — but not unsupervised cryptocurrencies.

The groups are utilizing a blockchain technology known as Provenance, which serves as a ledger to issue and transact across private investments.

Digital Insurance spoke with Cyndee Morton, chief operating and innovation officer, Safety National Casualty Corporation.

Final installment of insights and news from ITC.

A report from the U.S. Treasury Department didn't say the U.S. should adopt a digital currency, but did recommend it start laying the groundwork in case it ever decides to do so.

Quantstamp incubated the new insurtech with backing from Munich Re and SOMPO Light Vortex. 

In other news: Chubb teams up with Betterfly in Latin America; Franklin Mutual partners with vipHomeLink; Aon announces last-mile insurance with CarrierHQ.

Insurance blockchain working group The Institutes RiskStream Collaborative has partnered with Trustlayer to build out an insurance verification proof of concept.

In other news: Hippo launches Builders Program; handdii wins the 2021 ACORD Insurtech Innovation Challenge New York; Blockchain-backed title insurance launches in five states.

Also: New data hire at Amerilife, European expansion at Insurify.

Bridge Mutual among carriers interested in launching so-called 'DeFi' apps