Lloyd's Sees Blockchain's Potential For Insurance Markets

Lloyd's Sees Blockchain's Potential For Insurance Markets

A plan to modernise the London Market - the major international insurance market based in the United Kingdom's capital - may include recommendations to use blockchain technology to improve data access and reduce costs associated with administrative paperwork. Lloyd's, one of the London Market's key participants, held a seminar in London last week to highlight blockchains, among other technologies, to insurance market participants as part of their modernisation plan, called the Target Operating Model, or TOM. Blockchains could bring increased risk-recording abilities, transparency, accuracy....


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