Insurwave: blockchain-enabled marine insurance
EY and Guardtime, as well as other insurance industry leaders, present Insurwave, the world's first blockchain-enabled platform. This platform integrates and secures the streams of disparate data sources involved in insuring shipments around the world.
What EY can do for you
The distributed database offers secure access to a single version of the truth to all participants in specialty insurance. The first phase of Insurwave supports the creation of insurance contracts. To read more about the evolution of Insurwave, see our POV (pdf).
Key benefits include:
- Claims to be paid in hours, not years
- Premiums to be agreed and settled in seconds
- Shippers to track assets and share data with brokers and insurers
- Brokers to focus more on servicing clients and less on administration
- Insurers to track their exposures in near real-time