Six Things Newsletter | August 10, 2021

In this week's Six Things, Paul Carroll looks at a new breakthrough in blockchain. Plus, building telematics can mitigate risk; how insurance can halt ransomware; breathing life into life insurance; and more.

In this week's Six Things, Paul Carroll looks at a new breakthrough in blockchain. Plus, building telematics can mitigate risk; how insurance can halt ransomware; breathing life into life insurance; and more.

Breakthrough for Blockchain?

Paul Carroll, Editor-in-Chief of ITL

While the enormous potential for blockchain in insurance has been apparent for a while, I’ve been waiting to see a breakout application hit the real world. I think I saw one last week, albeit in a different industry.

An article on Quora reported that Amadeus, a global reservation system, has adopted a blockchain-based system for verifying health clearances, such as COVID-19 vaccination records, for travelers.

The system will have to adapt as the pandemic continues to unfold and, in particular, as policies on eligibility for travel evolve, so success is by no means guaranteed. But I think this rollout is one to watch, because it’s the first I’ve seen that aims at truly massive scale, of the sort that will need to occur in the insurance industry as blockchain tracks certificates of insurance, manages first notice of loss and so on.

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SIX THINGS

Embedded Insurance: The New Hot Topic
by Joan Cuscó

An InsTech London report forecasts that the embedded insurance market could be $722 billion in gross written premium globally by 2030.

Read More

Building Telematics Can Mitigate Risk
by William Evans

Advances in cloud computing, AI and sensors are combining to offer insurers new, better variables to characterize occupancy risk in buildings.

Read More

How Insurance Can Halt Ransomware
by Vishaal Hariprasad

As with the hostage-taking crisis of the 1970s, insurers are uniquely positioned to play a leadership role and de-escalate ransomware.

Read More

Breathing Life Into Life Insurance
by Sammy Rubin

To meet the needs of modern consumers, life insurers' products must be accessible, user-friendly and valuable to users’ everyday lives.

Read More

Creating Empathetic Customer Experience
by Rhonda Basler

Your brand’s empathy matters more than ever to customers who’ve undergone what can only be called an emotional roller coaster.

Read More

How Blockchain Can Disrupt Insurance
by Kunal Sawhney

While digitization and technology have always existed in insurance, blockchain has emerged as rocket fuel for transformation.

Read More

MORE FROM ITL

AUGUST FOCUS: Cognitive Technologies
This month sponsored by Intellect SEEC

Cognitive computing is a funny beast. Every time you hit your target, you find that another pops up off in the distance.

When I first saw a demonstration of speech recognition, some 30 years ago, I was mightily impressed that the computer understood a few words. If I had seen what would be possible today, I’d have been stunned. But now? Oh, that’s just Siri or Alexa. And why didn’t auto-correct guess exactly what I wanted to say?

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Insurance Thought Leadership

Insurance Thought Leadership (ITL) delivers engaging, informative articles from our global network of thought leaders and decision makers. Their insights are transforming the insurance and risk management marketplace through knowledge sharing, big ideas on a wide variety of topics, and lessons learned through real-life applications of innovative technology.

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