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Will your next insurance administration system be on the Blockchain?

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Celent have reviewed this profile and believe it to be accurate.
2016/01/27

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  • Very timely article Mike. ACORD has plans to fill the void!

    I did a session on the potential of the blockchain in insurance at the ACORD Implementation Forum in 2014. I had just come from a SWIFT SIBOS conference where it was the main topic of discussion for bankers. I thought in would take several years for the insurance community to get to the same point, but I am very pleased that I was wrong.

    As I write this I am in the ACORD London office. Blockchain is the main topic of discussion in the London Market and our next Innovation Fourm on Feb 23 will focus 100% on the topic. At the Forum we will be seeking insurers to collaborate on use case scenarios and will have plans to do the same in the US market.

    ACORD has all the standards necessary to put "smart" insurance contracts on the blockchain already in place. If anyone reading this is interested in getting involved please contact me at whartnett@acord.org

    Bill Hartnett
    Head of Innovation
    ACORD

  • […] Writing in the Celent Insurance blog, Mike Fitzgerald notes: “Celent is aware of insurers who are active in this space (Blockchain). …However, these efforts are individual and not connected.”   Fitzgerald posits that some form of a consortium could be forming in 2016. […]

  • Yes we are building something out with a number of insurers in Europe as we speak . There will be some announcements soon...