The insurance industry, always looking for ways to protect customers and keep losses to a minimum, is learning that blockchain can be a useful tool.

Case in point: The Financial Times reports insurers of the Maersk shipping line will be using a blockchain-based system to track and insure the hulls of its container ships traveling the world, including possibly in war zones.

The shipping company has teamed with consultancy EY, insurers XL Catlin and MS Amlin and broker Willis Towers Watson to create a system that could lead to more efficient insurance policies tailored to the needs of clients like Maersk.

A number of major insurance companies, including Axa, Allianz and AIG, have been working on incorporating blockchain into their policies, according to the FT. Read more here.

ThirtyK Staff
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