Four Killer Blockchain Use Cases for Insurance

Is blockchain really a solution in search of a problem? At first glance, it may appear that way. Aside from developments in the industry loss warranty (ILW) market, clear use cases have been slow to emerge. That’s largely because blockchain innovation has focused on smart contracts that use of an independent third-party as the ‘oracle’, […]

Are We Missing the Real Blockchain Opportunity for Insurance?

Blockchain has taken the global insurance industry by storm. Insurtech start-ups have begun to probe this emerging technology, and insurers and reinsurers have watched, explored, and tested. So far, however, blockchain remains a discussion topic more than an implementation effort. The likely reason for this is a lack of insurance industry knowledge amongst blockchain-focused companies. […]

PCS Terror Index: What You Need to Know

Unfortunately, 2016 has been an active year for terror. Year to date, two incidents in the United States have led to 49 fatalities. Turkey has suffered more than the recent attempted coup d’etat and Ataturk airport bombing. According to Verisk Maplecroft, 154 terror events have occurred in Turkey this year, with 346 fatalities and 1,140 […]

Blockchain, IoT, and Streamlined Claim Handling

At the Uniglobal Insurance Claims Management Conference, I heard a lot of doom and gloom about the future of claim handling—and the future of the insurance industry in general. New business models are poised to enter the market and disrupt—an ongoing theme. And the plethora of data available—in conjunction with predictive analytics—could greatly reduce the […]

Top ILS Market Trends: Q1 2016

We’ve put another record-setting quarter for catastrophe bond issuance behind us, with $2 billion in fresh capital coming to market. In some ways, the first quarter of 2016 offered more of the same, with no first-time sponsors involved in catastrophe bond issuance activity. However, the sheer volume of transactions shows that insurance-linked securities (ILS) have become […]

Blockchain, Smart Contracts, and Index Triggers: Count the Frictional Costs As They Disappear

Is the insurance industry watching developments in blockchain technology? Some of our folks in the market are, but it’s pretty clear to me that the focus is the other way around. The blockchain community has its eye on insurance and is bringing plenty of potentially disruptive ideas. And smart contracts are at the top of the […]