Insurance Industry Solutions as SCOR Embraces Blockchain Technology

In September 2016 SCOR started to test blockchain technology and launched a Technical Accounting Blockchain Proof of Concept to assess the feasibility of using Blockchain technology to enhance the Ruschlikon initiative, a global community of insurers, brokers and reinsurers looking to optimize administrative costs and enhance client services.

SCOR reports being very pleased with the results of these tests, which demonstrate that Blockchain technology is agile and quick to implement, simplifies and accelerates interaction, with real-time status simultaneously shared by the business partners involved, and has the potential to efficiently reduce costs.

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