Insurance

Admittedly, my interest in blockchain has been fairly narrow. Given the role of PCS® in the global industry loss warranty (ILW) market, I’ve been particularly focused on how blockchain-enabled smart contracts could benefit the reinsurance and insurance-linked securities (ILS) market.

During a track at the IFoA Asia Conference 2018 last week, a speaker laid out a “future state” vision that included access to insurance-linked securities (ILS)—or at least some version of ILS—for retail investors.

Last year was a sobering year for cyber risk, with major corporations and government agencies alike hit hard by data breaches and cyberattacks that cost millions of dollars.

While data risk mitigation issues continue to emerge in our industry, ClaimSearch is always working to maintain the privacy and security of claims data.

Illinois House Bill 2610 was signed by Governor Bruce Rauner on August 25, 2017.

Personal injury claims reform has been put off again, and whether the new government will pursue reform is unclear.

Insurers are still reeling from the drastic change in the discount rate that went into effect 20 March 2017.

Together, the Catapult and Verisk Analytics continue to do their part to help the UK deliver on its national energy and climate change targets.

Industrial manufacturing and agricultural output are down, and the U.K. is seeing increases in the costs of imported commodities and fuel.

Americans drove a combined 3.1 trillion miles over 12 months through March 2016. With drivers traveling more miles, the potential for accidents increases.

Here are the ways this blockchain technology can benefit the global insurance industry.

The global insurance industry has taken an interest in blockchain because of certain fundamental benefits that the technology provides.