Insureblocks Blockchain & Smart Contracts In Insurance

For today’s episode we are going to Munich with Bob Crozier, Head of Global Blockchain Centre of Competence at Allianz. Bob shares his views on blockchain’s effect on the insurance industry and sheds some light on the Allianz approach to blockchain. Blockchain in two minutes A blockchain is a shared ledger record of transactions. When everyone in a network agrees a piece of information is correct, it is added to the ledger and the blockchain’s technology links each successive transaction to the previous one. The end result is an unbroken history of transactions that all parties can trust is correct.   Blockchain’s impact on the insurance industry In August 2017 Bob wrote a blog post titled “how blockchain will impact insurance in 2017 and beyond”, where he examines how blockchain is changing how insurance companies operate on a fundamental level and the way insurers and customers relate in a shared economy. This refers to the gradual change in which insurers realise that working together to solve common