Global insurance provider First American Financial Insurance is launching a blockchain system to facilitate exchanges of prior insurance policies . Old Republic Title Insurance provider will be the first participant . The system will uniquely code each policy to increase the accuracy of searches and streamline the reporting process . The system adopts blockchain to increase efficiency and lower risk in obtaining credit insurance by increasing ability 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.