Synechron Inc., a global financial services consulting and technology services provider, today announced two innovation awards from ACORD, the global provider of insurance data standards, in recognition of the firm’s innovative work in Blockchain and micro-insurance.
“Synechron has been a member of ACORD for three years, and we are pleased to see them implementing our Standards with more cutting edge technologies,” said Marcia Berner, Director of Property & Casualty at ACORD. “The exploration of new solutions is key to solving legacy challenges, and this integration is a step forward in driving greater business value for insurers, while setting new technology goals for the industry.”
The 2017 ACORD Leadership Awards recognize innovative implementations of ACORD Standards in ways that dramatically improve business process and performance. ACORD honored Synechron’s work in applying Blockchain to address the complex claims and contract management process for insurers.
Insurance firms grapple with the multifaceted and manual contract and claims process as well as the ever-increasing threat from fraud. In order to make this more transparent and efficient, Synechron helps firms utilize Blockchain to record and validate policy contracts and claims, thereby unlocking much-needed efficiency, transparency and security.
The use of Ethereum and ACORD XML Standards created significant business value, including increasing revenues, reducing costs, managing risk, and fostering increased client loyalty.
“The insurance industry is under tremendous pressure to innovate with modern technology in a society where mobile-first has become the norm and challenges like fraud and inefficiency are driving the need for operational changes,” comments Ashish Nangla, Senior Director of the Insurance Practice at Synechron. “At Synechron, we’re always evaluating how new technologies such as Blockchain can be applied to solve the numerous and complex challenges of the insurance industry. We are so pleased to be recognized by ACORD for our work in leveraging ACORD standards to solve real-world insurance problems.”
Synechron is a global consulting and technology organization providing innovative solutions to the financial services industry through its three main business focus areas: digital, business consulting, and technology. Based in New York, the company has 16 offices around the globe, with over 6,000 employees producing $400M in annual revenue.
- Blockchain-Fueled VeganNation raises $10 million for Vegan Global Marketplace - August 19, 2019
- Fight to Flame – Mike Tyson Denies Issuing Token and Working With Fight2Fame - August 17, 2019
- Bitcoin Wealth is Almost 50 Times More Concentrated than Global Wealth According to PARSIQ Research - August 16, 2019
- Graph Blockchain Signs LOI to Acquire Cyberanking Ltd. an Esports Company - August 16, 2019
- Blockchain Moves Into The US’s Largest Oil Fields With Data Gumbo - August 16, 2019
- BlockStar Teams Up With Cycling Apparel Brand De Marchi to Auction Fausto Coppi’s Cycling Jersey - August 16, 2019
- Zcoin Available to Five Million Merchants in Thailand - August 16, 2019
- Republic Partners with Althea to Launch First-Ever Compliant Security Airdrop for Retail Investors in the U.S. and Abroad - August 14, 2019
- Mark Cuban’s Dallas Mavericks Basketball Team Join Up With Bitpay To Accept Bitcoin For Tickets And Gear - August 14, 2019
- Mike Tyson Launches Fight to Fame – Crypto-Driven, Blockchain-Fueled Fighter Booster - August 14, 2019
- Blox Survey: Ninety-Five Percent of US CPAs Believe Clients are Not Disclosing All their Digital Assets and Transactions - August 13, 2019
- New Zealand Allows for Employee Payments to be Made in Cryptocurrency - August 13, 2019
- USA SEC Postpones Decision on Three Bitcoin ETFs - August 13, 2019
- Cryptocurrency Thefts, Scams and Fraud May Exceed $4.3 Billion For 2019 - August 12, 2019
- China’s Central Bank Gears Up to Launch it’s Own Cryptocurrency - August 12, 2019
- Overstock: Retail Traders Can Now Invest in STOs at tZERO - August 9, 2019
- Merj Rolls Out The First-ever Official Listing Of A Tokenized Security On A Regulated National Stock Exchange - August 9, 2019
- Commerzbank And Daimler Trucks Test Machine-to-machine Payments On Blockchain - August 9, 2019
- Africa’s Youth See A Future For Bitcoin Beyond Speculation - August 8, 2019
- Blockchain VR Network Set to Launch - August 8, 2019