Type: Insurance
Insurance policies supported by Lloyd’s of London, a three-hundred-year-old British insurance market, can now be paid for with cryptocurrencies on Ethereum. This has been possible through a partnership between Llyod’s of London, Evertas (a coverholder of Lloyd’s of London) and Nayms, a smart contract-based insurance marketplace. They used the public blockchain Ethereum to help coordinate […]
Improving the world of multinational insurance programs (MIPs) can be a tough task. These programs are essential in providing comprehensive insurance coverage across multiple countries, yet they face numerous challenges in efficiency and effectiveness. One key issue is to coordinate a vast network of local insurers, often managed through emails, paper and spreadsheets. The sector […]
Otonomi, a blockchain insurance company from Brooklyn, offers shippers a solution to mitigate financial risks associated with cargo delays. By utilizing their AI-assisted algorithm built on blockchain technology, the company promptly provides delay quotes to cargo owners who are time-sensitive. They have modernised the claim process by implementing a proprietary parametric mechanism that ensures transparency […]
Etherisc, a blockchain insurance platform, has joined forces with Mittweida CSI (Community Supported Insurance) to develop a groundbreaking parametric train delay insurance solution. This revolutionary offering brings transparency and efficiency to policyholders, ensuring smooth and hassle-free journeys for travellers and commuters in Germany. Etherisc‘s platform, known as the GIF, is the first of its kind, […]
IMA Financial Group, top-10 U.S. insurance broker, renowned for digital asset risk management, last year pioneered the issuance of the first-ever blockchain-based certificate of insurance (COI) as a non-fungible token (NFT). Executed on behalf of Engiven within Decentraland, this transformative step ensures the verifiable and accessible recordkeeping of COIs, addressing the prevalent challenges in the […]