Reuters reported that “AIG and IBM completed a pilot of a so-called “smart contract” multi-national policy for Standard Chartered Bank PLC which the companies said is the first of its kind using blockchain’s digital ledger technology.” The June 15, 2017 report entitled “AIG teams with IBM to use blockchain for ‘smart’ insurance policy” included this explanation:
The Standard Chartered policy uses blockchain to facilitate sharing of real-time information for a main policy written in the United Kingdom, where the bank is headquartered, and three local policies in the United States, Singapore and Kenya.
Surely we will see more Blockchain insurance as Blockchain becomes more mainstream!
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