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blockchain

News Commercial LinesInsuranceTechnology

Why the insurance industry needs a “killer use case” for blockchain

February 28, 2019 by Jason Contant

The insurance industry needs a “killer use case” for blockchain that all stakeholders can agree on before moving forward with more widespread adoption, a speaker suggested Wednesday at the Insurance-Canada.ca Technology Conference. “I think we are still on that journey

News Technology

Insurance without the carrier coming soon

November 7, 2018 by Greg Meckbach

A blockchain-based business insurance model that could see non-regulated investors as the capital providers is coming sooner that you think, although it may not necessarily arrive in Canada in the short term, predicts an executive who has led two major

News RiskTechnology

Why feds don’t call bitcoin a currency

October 15, 2018 by Greg Meckbach

One of the biggest risks posed by blockchain-based currencies is financing of terrorism and it is reasonable to ask whether there should be tighter regulation of this technology, federal finance minister Bill Morneau told a Senate committee. Bitcoin is one

News InsuranceMarkets / CoveragesTechnology

Why management experience is so important for blockchain insurance

August 24, 2018 by Jason Contant

Given that “there are no 10-year-old blockchain companies” in an industry that relies heavily on historical data, how do insurers assess a submission for insurance related to the distributed ledger? Just like you would for any type of “traditional insurance”:

News InsuranceMarkets / CoveragesTechnology

Why you’ll have trouble finding D&O insurance for clients using blockchain

August 23, 2018 by Jason Contant

Brokers looking to place directors and officers (D&O) insurance coverage for clients involved with blockchain or digital assets will not have an easy time finding the coverage, since there is a limited underwriting appetite for it. “It’s definitely feasible, and

News InsuranceLegislation / RegulationRiskTechnology

How blockchain may ramp up your liability exposure

August 21, 2018 by Jason Contant

The rise of blockchain and cryptocurrency technologies have triggered an explosion in securities litigation, a lawyer specializing in the field said last week during a webinar on the insurance implications of blockchain and cryptocurrencies. Alex Drylewski is a partner of

News Markets / CoveragesTechnology

Which insurance lines will blockchain transform?

August 17, 2018 by Jason Contant

As the hype around blockchain continues and it looks increasingly like the technology is here to stay, insurers are taking a closer look and seeking to create coverages to respond to this evolving market. Blockchain currently has a variety of

News InsuranceMarkets / CoveragesReinsuranceTechnology

The trick to getting blockchain to work for insurance

July 30, 2018 by Jason Contant

The trick to getting blockchain to work in the insurance space is getting all the players in the market to align and agree on common standards and a way to govern the blockchain, Aon Benfield’s chief information officer said Friday.

News InsuranceTechnology

Intact explores blockchain’s insurance potential

July 29, 2018 by Greg Meckbach

One of the “disruptive promises” of blockchain is the ability to use it for insurance, and Canada’s largest insurer confirmed recently that it is exploring its potential. Thus far, however, blockchain  “is still [a research and development] project” at Intact Insurance, Jean-François

News BrokersInsurance

How Canadian brokers can cut out the ‘middleman’ – the insurers

July 17, 2018 by David Gambrill

Canadian insurance brokerages have already made inquiries to an Estonian-based insurance company that is working on a revolutionary blockchain distribution model. Black Insurance is setting its sights on cutting out the “intermediaries” in the insurance sales process – the insurance

News BrokersInsuranceTechnology

How blockchain will help brokers bypass traditional insurers

July 12, 2018 by David Gambrill

Vancouver-based Fineqia International Inc. has taken an equity allocation in Black Insurance, a Tallinn, Estonia-based digital insurance startup on the blockchain that has set its sights on creating a direct investor-to-broker relationship, bypassing the need for a traditional insurance company.

News InsuranceTechnology

“Don’t be on the sidelines,” speakers say of blockchain

May 14, 2018 by Greg Meckbach

Blockchain, the technology behind Bitcoin, does not have a foothold in insurance yet, but it will no doubt disrupt some industries, speakers said last week at a financial industry conference. Blockchain promises “massively new business models,” Andrew Maxwell, director of