Global insurance provider Old Republic Title Insurance Group is launching a blockchain system to facilitate exchanges of prior insurance policies. First American Financial Corporation will be the first participant. The system will uniquely code each policy to increase the accuracy of searches and streamline the search process. The design adopts blockchain to increase efficiency and lower risk in producing title insurance by increasing capacity to share policy information.
Global insurance provider First American Financial Corporation is launching a blockchain system to facilitate exchanges of prior insurance policies. Old Republic Title Insurance Group will be the first participant. The system will uniquely code each policy to increase the accuracy of searches and streamline the search process. The design adopts blockchain to increase efficiency and lower risk in producing title insurance by increasing capacity to share policy information.