Insureblocks Blockchain & Smart Contracts In Insurance

For this week’s episode we had the pleasure to hear about the exciting blockchain work IBM does in the insurance industry and beyond. We very pleased to have Craig Bedell, Global Insurance Industry Executive, and Annap Derebail, Executive Architect Financial Services Sector from IBM, take us through IBM’s journey with Hyperledger Fabric and some interesting blockchain case studies.   Blockchain in 2 minutes Annap Annap chose to explain what is blockchain from an insurance perspective. The insurance industry operates within a network that involves brokers, service providers, regulators, advisory services, other insurance carries and reinsurers. They transact business across this network by exchanging assets that typically historically have been recorded in ledgers or systems of record by each party involved in these transactions. As they compete with each other they don’t necessarily trust each other. The effect of this lack of trust is that when ledger’s mismatch for whatever reason, either due to error or