Blockchain can transform the insurance sector

Peter Manchester, EY’s global insurance advisory leader and EMEIA insurance leader, writes for The Telegraph about how the consulting firm has invested in Insurwave, a blockchain platform that can be used to establish smart contracts. “If blockchain and other technologies provide real-time exposure data to all parties, the annual cycle of today’s marketplace could be replaced by continuous contracts,” he writes, adding “Underwriters could use the availability of mass data to develop more granular and bespoke underwriting capability. The development of smart contracts with embedded controls and pricing could create a more seamless experience for all parties – increasing effectiveness, while reducing costs.”

View Article