Canadian Insurance Giant Manulife to Test Ethereum Blockchain

Canadian Insurance Giant Manulife to Test Ethereum Blockchain

Manulife announces its plan to implement blockchain technology at its US arm for wealth management operations. Manulife, a Canadian insurance service provider, has recently announced that it will be exploring the blockchain technology for its wealth management services. The company will be implementing the blockchain technology into its US business arm. In order to do that, Manulife Financial has struck a deal with ConsenSys, the Ethereum blockchain tools, and Dapps studio and BlockApps to implement the blockchain technology for its operations. The collaboration was announced to the press....


Related News

Insurance Giant Allianz to Tame ‘Cat’ Swaps With Blockchain

German-based insurance giant Allianz has announced it has been successfully testing Blockchain technology and smart contracts for the processing of default swaps and bonds. The company is feeling positive about the potential of technology to increase the competition among financial institutions. Allianz Risk Transfer, founded in 1997, has been operating as the center of competence for alternative risk transfer business within the Allianz Group offering tailor-made insurance, reinsurance and other non-traditional risk management solutions to industrial and financial clients worldwide.....

Insurance Giant John Hancock Begins Blockchain Tech Tests

Life insurance and financial services giant John Hancock has begun work on multiple blockchain proofs-of-concept designed to show how distributed ledger technology could reinvent established insurance industry processes. But, as yet, the proofs-of-concept aren’t actually related to insurance. Instead, the company that last year doled out $24.6bn in customer claims is exploring blockchain in a wide-range of areas of the business, with actual insurance applications only to come in the future. John Hancock’s head of innovation, Ace Moghimi, said his team was working on several blockchain....

PwC to Study Blockchain Technology for Wholesale Insurance

PricewaterhouseCoopers (PwC), the largest professional services firm in the world, is set to initiate research into blockchain tech by focusing on its potential uses in wholesale insurance. PwC to Test Insurance on the Blockchain. The research will be a collaborative project between PwC and Z/Yen, a consultancy think-tank located in the City of London.....

It Is Time for the English Insurance Sector to Adopt Blockchain Tech

The blockchain technology has now entered the insurance sector, making it possible for the insurance companies to offer policies to suit the customers' needs. The use of blockchain technology in insurance sector is something relatively new. London, the fintech destination of Europe is the first one to explore the potential uses of distributed technology in the insurance industry. The Capital of England already has a couple of companies who have already implemented it into their offerings. The blockchain is known for its transparency, security, immutability and reliability. All the....

R3 Blockchain Consortium Sees American Insurance Giant MetLife Join Ranks

MetLife Inc., one of the largest insurers in the world has joined the R3-led blockchain consortium that now counts 60 of the world’s largest financial institutions. Insurance giant MetLife is the latest financial institution to join the financial private blockchain consortium led by New York-based startup R3. MetLife will partner and interact with other R3 members in an effort to explore the potential application of blockchain technology in the insurance industry. Specifically, how distributed ledgers can streamline activities such as business processing, policy administration, customer....