Insurance Blockchain Consortium RBA Alliance Sets Up Tech Platform

The Institutes’ RBA Alliance, an insurance-focused blockchain consortium, has made two key technology-partnership selections that will help its carrier and broker members leverage the emerging technology. Corda technology from R3 will provide the distributed-ledger technology, while Accenture has joined with the companies to create integration and control layers that will allow carriers to use blockchain services with their existing core systems. RBA Alliance has 30 industry members including Nationwide, Farmers and USAA.

"Corda gives the ability to not fully distribute data -- you don’t always want your private information to be available to your competitors," says Jamie Solomon, managing director for Accenture. "There’s only a couple platforms in the industry that do that."