Insight and Intelligence on the London & International Insurance Markets

25 February 2018

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Blockchain ‘viable’: LMG

Bernard Goyder 23 January 2017

Blockchain technology should be at the heart of ongoing reforms in the London insurance market, a report commissioned by the London Market Group (LMG) has found.

The study found that blockchain - a secure digital logbook of transactions - "is indeed a viable option" for the insurance industry.

The paper noted that costs associated with harmonising different versions of the same document could be "significantly reduced" by using the technology.

Blockchain represents "an opportunity to radically rationalise and reshape inefficient...

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