Collaboration On Blockchain Prepares To Make Insurance Use Cases A Reality

Titans of industry, such as global insurance brokerage Marsh and Aon, have already recognized the potential in blockchain and now, more companies are jumping on board to push the application of the technology in insurance even further. EY recently announced that it will act as the primary service provider in blockchain-related cybersecurity and risk management guidance for the Institutes RiskBlock Alliance, which is the first blockchain consortium for the risk management and insurance industry. The collaboration will assist RiskBlock Alliance in pinpointing the risks unique to its blockchain as well as identifying practice controls and providing blockchain-specific cybersecurity assessments and testing, according to EY.