Accenture: Global Insurers Will Embrace the Blockchain
A managing director for Accenture has published a new blog post detailing why he believes the insurance industry will move to embrace the blockchain within the "next few years". Abizer Rangwala, who focuses on insurance IT strategy for the professional services firm, wrote on 4th January that he expects the technology to "have a profound effect on business", adding that, in his opinion, this impact is already underway. Rangwala wrote: "Insurance is gaining momentum in the use of blockchain and slowly figuring out the true business use or to some degree what the use case should be. I have....
Related News
A blockchain technology consortium spearheaded by a global group of insurers has added several new members. The B3i project – short for the Blockchain Insurance Industry Initiative – was launched in October, an effort aimed at providing a way for insurers like Allianz and Swiss Re, among others, to swap information and collaboratively test prototypes and use cases. While some insurers have been testing blockchain independently, B3i offered the chance to conduct those experiments under one roof. Since launch, other insurers, including Liberty Mutual, Sompo Japan Nipponkoa and the....
Accenture has launched a specialized practice within its financial services group to help institutions implement blockchain technology in order to improve operational efficiency, security and client service, as well as to capture new revenue opportunities. Accenture will provide a range of consulting and technology services, from feasibility studies, business case assessments and operating model design, to advisory services on systems architecture, cybersecurity and cloud consulting, through to full-scale systems integration. Accenture, a Fortune Global 500 company, is the world's largest....
Global professional services group Accenture has announced a prototype that they call an “editable blockchain.” The firm says the concept addresses immutability concerns and the right to be forgotten laws. Accenture Editable Blockchains Preferred By Banks. Last week, an executive from Accenture described Bitcoin’s immutability as a weakness. Now, the....
Writing on CIO Journal, a Wall Street Journalblog for corporate technology executives, Owen Jelf and Sigrid Seibold, respectively global managing director of Accenture's capital markets practice and managing director of Accenture's digital capital markets efforts, weigh in on the fashionable debate about the blockchain as a system vs. bitcoin as a currency. Not surprisingly, the two Accenture writers propose to do without bitcoin as a currency, but they are bullish about the potential of the blockchain in financial markets. "Blockchains present an enormous opportunity for the world's banks....
A financial innovation lab operated by management consulting firm Accenture has added a blockchain startup to its latest class. Accenture's 2016 FinTech Innovation Lab London, the company announced yesterday, will include 15 startups. Crowdaura, which uses blockchain technology as a mechanism for issuing securities via crowdfunding, is the sole blockchain startup to be included in the class. The selected startups will spend 12 weeks working with Accenture staff and executives from a variety of major financial institutions including Bank of America, Deutsche Bank, HSBC and Société Générale.....