Chain-Finance Event to Analyse Potential Blockchain Disruption of Insurance Industry

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CHAIN-FINANCE, a provider of news, research & events on Blockchain technologies for global financial services, today announced that its next “Blockchain in Finance” seminar will assess how Blockchain technology might impact the global insurance industry.

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Sponsored by Clyde & Co, the seminar is being held in London on May 18, 2016 at the Rainmaking Loft.

Confirmed speakers include Nigel Brook &  Lee Bacon – Clyde & Co, George Hallam – Ethereum Foundation, Gary Nuttall – Distlytics, Paul Ferris – ObjectChain, Thomas Bertani – Oraclize, Michael Mainelli – Z/Yen, as well as representatives of Everledger and SafeShare Global Limited.

Clyde & Co is the world’s largest insurance law firm, with a market-leading global cyber coverage and breach response team. Partners Nigel Brook, a member of the London cyber team, and Lee Bacon, an insurance specialist in the International Arbitration team, will discuss the potential for Blockchain and associated developments to impact traditional distribution channels and resolve longstanding inefficiencies and uncertainties in the contractual chain.

Lee and Nigel note that whilst the international insurance markets have been quick to use their traditional structures and models to respond to cyber challenges and losses, the industry is only now seeking to come to terms with the disruptive and revolutionary potential of distributed ledgers to impact how it does business.

The other speakers at this CHAIN-FINANCE event will assess key areas where Blockchain tech could offer benefits for the insurance industry:

Transparency – Blockchain tech first enhances the transparency of insurable goods. If you add a diamond to a Blockchain and track its history then it should be easier to insure and the premiums more accurate.

More Information, More Accuracy, Better Data Security – Blockchain tech offers a method for sharing  information with insurers but in a way that is secure. More information that is relevant, validated and actual will offer insurers a better way to “create more accurate products, prices and premiums”.

Real-Time Insurance Contracts – By using smart contracts on the Blockchain, we should be able to devise the first ‘real-time’ insurance product. Using a Blockchain, an insurance product can self-adjust its premium as circumstances or owners change and can automate payouts based on Blockchain verified facts rather than a claims process.

Enabling the Sharing Economy –  Another area for Blockchain utility is insuretech. Startups, like Lemonade, Friendsurance and SafeShare are bringing peer-to-peer insurance to market. Blockchain is peer-to-peer by design – so how might that technology enable insuretech businesses?

Attendees will be able to take away valuable insights from an event incorporating speakers and content that address the key issues and innovations for Blockchain tech in the insurance industry.

Online registrations for this event are welcome at http://Blockchain-finance.com/Blockchain-insurance-event-052016/

This article is protected by international copyright laws and is owned by Blockchain News.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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