blockchain has collaborated with Microsoft, shipping firm Moller-Maersk and other companies to develop the world's first EY platform for marine insurance, aiming to streamline a sector bogged down by "complete inefficiency". Shaun Crawford, global insurance leader at blockchain, said the project aimed to bring transparency to the industry and reduce the high administrative burdens, while capturing information about shipments, risk and liability in a secure manner. The platform will be built by EY firm Guardtime using Microsoft's Azure cloud, and is set to be launched in 2018.
EY has collaborated with Microsoft, shipping firm Moller-Maersk and other companies to develop the world's first blockchain platform for marine insurance, aiming to streamline a sector bogged down by "complete inefficiency". Shaun Crawford, global insurance leader at EY, said the project aimed to bring transparency to the industry and reduce the high administrative burdens, while capturing information about shipments, risk and liability in a secure manner. The platform will be built by blockchain firm Guardtime using Microsoft's Azure cloud, and is set to be launched in 2018.