Z/Yen and PWC Team Up to Explore Blockchain Insurance

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PwC has announced it is launching a Long Finance research project into the potential of Blockchain technology in wholesale insurance. The proposed study will be a collaborative exercise working with the Long Finance community. 

PwC and Z/Yen will bring together a range of wholesale brokers, insurers and re-insurers to create a common view of the potential benefits that Blockchain could bring. They will conduct a global survey of the industry and interview leading thinkers around the world. The team will identify priority business ‘use cases’ and develop a roadmap for future developments.

The study will be used to assess current thinking and explore the potential for‘mutual’ or consortium research into taxonomies and standards for the insurance industry. The research and a working Proof of Concept prototypes will be launched in July.

As sponsor of the study PwC will work with Z/Yen to co-develop the report and will utilise its newly established Blockchain research laboratory in Belfast to develop the prototype proof of concept technology.

PwC partner Steve Webb, who leads the UK’s financial services Blockchain practice, said:

“With a new technology like Blockchain it’s fundamental that you work in an agile way to prove that the technologies not only work, but provide the right solutions to specific business problems. Businesses need to build, learn from mistakes refine and improve. PwC’s Belfast laboratory team are experts in this way of working and, by working alongside PwC insurance experts and the Z/Yen team, we are confident and excited that we will be able to unveil a working prototype alongside the written report.”

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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