Guardtime and EY are providing greater transparency and efficiency through blockchain technology in marine insurance.
Insurwave
blockchain-enabled marine insurance
EY and Guardtime, in collaboration with other insurance industry leaders, present Insurwave, the world's first blockchain-enabled insurance platform in production. Insurwave integrates and secures the streams of disparate data sources involved in insuring shipments around the world.
HOW BLOCKCHAIN HELPS INSURERS MANAGE RISK BETTER
HOW CAN INSURERS USE THEIR CAPITAL MORE EFFECTIVELY?
When risks ebb and flow, how can insurance premiums adjust? Marine insurance has not kept up with the digital era. The industry is asking how modern technology can help manage dynamic risk.
THE ANSWER IS HERE TODAY.
Implementing a sea change in a two hundred year old industry. A new blockchain-enabled platform is automating the insurance process to meet the needs of all stakeholders.
AND THE FUTURE IS NEARER THAN YOU THINK.
Taking blockchain beyond marine insurance. This new platform will transform specialty insurance by enabling trust, transparency and automation between all companies in the value chain.
WHAT WE CAN DO FOR YOU
A distributed database based on immutable data offers secure access to a single version of the truth and enables automation to replace many manual processes. The first phase of the blockchain platform rollout supports the creation of insurance contracts.
Insurwave enables:
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
LEARN HOW INSURWAVE IS TRANSFORMING THE MARINE INSURANCE INDUSTRY
Directors
Shaun Crawford
Global Vice Chair of Industry at EY
Shaun has been in the financial services industry for over 30 years having worked both in consulting and line management with the majority of European insurers as well as UK retail banks. For the past 6 years he has led Ernst & Young’s Global Insurance business with an emphasis on the Emerging Markets.
Ian Meadows
Director for Insurance at EY
Ian has over 20 years of experience in the insurance markets of UK, France, Germany and China. For 10 years, he was an Executive Board Member and CSO of an insurance market trading platform with 400 corporate clients. Ian specialises in e-commerce strategy for market modernisation and change.
Mike Gault
CEO and Founder of Guardtime
Mike is the CEO and Founder of Guardtime, a company he has led for the last 10 years. He started his career on a post-doctoral fellowship conducting research at the Tokyo Institute of Technology on the numerical analysis of quantum devices. He then spent 10 years as a quant and derivatives trader before starting Guardtime.
Whitepapers
News
World’s first blockchain platform for marine insurance now in commercial use
Willis praises revolutionary Insurwave blockchain platform
EY teams with Microsoft, Maersk to use blockchain for marine insurance
EY and Guardtime launch blockchain platform for marine insurance
Blockchain Platform For Marine Insurance Launched By EY, Guardtime
First Blockchain for Marine Insurance Now Running
Investors
Guardtime
The World’s leading enterprise blockchain company.
Guardtime's clients are companies that want to win in the digital domain. We partner together, building new digital products and services using our KSI technology stack, take them to market and share in the economic upside.
The company was founded in 2007 with a goal of eliminating the need for trusted authorities within Estonian Government networks. The company is now global with a portfolio of businesses across defense, telecom, life sciences, financial services, energy, government and others.
EY
At EY, our purpose is Building a better working world. The insights and quality services we provide help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
In a world that’s changing faster than ever, our purpose acts as our ‘North Star’ guiding our more than 260,000 people – providing the context and meaning for the work we do every day. We help digital pioneers fight data piracy; guide governments through cash-flow crises; unlock new medical treatments with data analytics; and pursue high quality audits to build trust in financial markets and business. In other words, partnering with entrepreneurs, companies, and entire countries to solve their most pressing challenges.