Insureblocks Blockchain & Smart Contracts In Insurance

Laurent Benichou, is Head of Blockchain Europe & US, that sits within the Group Emerging Technologies and Data team at AXA. In this podcast we discuss the main takeaways from his experience with Fizzy and more importantly we discuss how can blockchain and insurance be good bedfellows. Laurent shares with us some of the main mistakes insurers make with blockchain but he also the main blockchain opportunities that exist in insurance.   What is blockchain? In August 2018, Laurent defined on Insureblocks blockchain as: "A blockchain is a fully distributed database. This means it has no single point of failure and no central managing authority. Blockchain’s technical characteristics, such as its immutability and cryptographic verification, create numerous convenient features including fast and easy payments, smart contracts and the ability to indefinitely store information." At that time his answer was a very technical one which he believes misses the essence of what is blockchain. Today, Laurent defines block