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Global insurance players launch reinsurance blockchain prototype

Posted On: Sep. 11, 2017 4:00 AM CST

The group of global insurers and reinsurers have launched a working prototype of a blockchain-powered reinsurance transaction platform, reports. The prototype features a property catastrophe excess-of-loss reinsurance transaction stored as a smart contract on a private, cryptographically secure blockchain. The group of fifteen global insurers and reinsurers aims to launch a market beta-testing program for the prototype in October.

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