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.”
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Providing insight into technology and innovation in the legal, accountancy property and consultancy sectors. Alternative Insights brings together news, commentary and thought leadership about digital transformation across the entire professional services industry. We collate industry stories on innovation, technology and transformation in the legal, accountancy, management and property consultancy sectors, giving you access to the latest thinking about tech and innovation in the professions.
April 7, 2020