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November 11, 2020

The Future of Blockchain Series

Summary:

Episode 1: Usage in Personal Lines

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Blockchain has incredible potential to impact traditional business functions and inspire new innovative opportunities

A key benefit of the technology, providing a single source of truth kept up to date in real time and accessible through permissions by all stakeholders, has huge implications for the insurance and risk management industries. This webinar begins by exploring blockchain’s promise, then dives into the technology’s use in personal lines, highlighting two production-ready use cases. The adoption of this technology could save the industry $1 billion a year.

Watch to learn:

  • Where blockchain is about to make a big impact  
  • The road map for the future of blockchain
  • The status of active use cases and their testing schedule
  • How to start preparing to reap the benefits

Don’t miss this free on demand panel discussion.


Presenters:

Christopher McDaniel 

President
The Institutes’ RiskStream Collaborative

Christopher McDaniel is President of The Institutes’ RiskStream Collaborative, an unprecedented, industry-led consortium collaborating to unlock the business potential of blockchain and other insurtech technologies across the insurance industry. 

He has 30-plus years experience in the financial services industry, including in organizational transformation, process improvement, roadmap development, project management and all facets of operations and technology. He has extensive experience in Property and Casualty, Reinsurance and Life and Annuity.

Most recently, before joining The Institutes, McDaniel was a Specialist Leader in Deloitte Consulting Insurance Practices, specializing in Strategy and Operations. Before Deloitte, he was the SVP of Operations & Technology for the Insured Retirement Institute.

Patrick G. Schmid, PhD

Vice President
The Institutes’ RiskStream Collaborative

Patrick G. Schmid, PhD, is the Vice President of The Institutes’ RiskStream Collaborative, a risk management and insurance blockchain consortium. Dr. Schmid coordinates RiskStream’s consortium of insurers, brokers and reinsurers and collaborates with industry participants and technical partners. Together, the consortium develops production-ready applications that can lower costs, improve the customer experience and drive efficiency across the insurance industry. 

Dr. Schmid formerly served as the head of The Institutes’ Enterprise Research department, where he led a team of data scientists and researchers in developing analytical solutions and market insights. Prior to working in the insurance industry, he worked as an economist for Moody’s Analytics.

He was the 2018 recipient of the International Insurance Society’s Leaders of Tomorrow award.

Paul Carroll

Editor-in-Chief
Insurance Thought Leadership

Paul is the co-author of The New Killer Apps: How Large Companies Can Out-Innovate Start-Ups and Billion Dollar Lessons: What You Can Learn From the Most Inexcusable Business Failures of the Last 25 Years and the author of Big Blues: The Unmaking of IBM, a major best-seller published in 1993. Paul spent 17 years at the Wall Street Journal as an editor and reporter. The paper nominated him twice for Pulitzer Prizes. In 1996, he founded Context, a thought-leadership magazine on the strategic importance of information technology that was a finalist for the National Magazine Award for General Excellence. He is a co-founder of the Devil’s Advocate Group consulting firm.


Additional Information

Blockchain has long been seen as having great promise, but somehow just over the horizon. The benefits have now become tangible and are about to start rolling out across the insurance industry. This webinar lays out the broad promise, then dives into personal lines, where blockchain will soon go into production — and where just the two use cases covered here could save the industry as much as $1 billion a year.

Who should watch:

  • Executives at P&C companies, especially in personal lines, or any executive involved in innovation
  • Technologists
  • Operations executives focused on driving down costs
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