A world leader in the field of container transport, the Danish company Maersk has officially launched a blockchain platform Insurwave intended for insurance in the field of Maritime transport. This writes Seatrade Maritime News.
The platform developed jointly by consulting firm EY and the company Guardtime and uses cloud technology Microsoft Azure.
It is expected that in the first year of operation with Insurwave Maersk will insure one thousand shipping vessels, and the total number of digital transactions will exceed 500 thousand.
“The transition to the Microsoft Azure platform will help us automate manual processes, increase overall efficiency and reduce operational expenses in marine insurance,” said Lars Henneberg, head of risk and insurance Maersk.
At the moment the platform is also used by companies such as Willis Towers Watson, MS XL Catlin and Amlin.
It is reported that in the future, developers Insurwave plan to expand its functionality by adding possibility of insurance in the field of air and energy.
Earlier this year Maersk, in partnership with IBM announced the creation of a new company which will focus on creating a trading blockchain-based platform for the global logistics industry.