Blockchain Gives Life to a 300-Year-Old Idea

Blockchain technology is actually a new way to pursue an insurance distribution system that existed 300 years ago, an expert at Willis Towers Watson said.

“This works like the way we used to do insurance 300 years ago,” said Magdalena Ramada Sarasola, a senior economist with Willis Towers Watson.

Ramada Sarasola made the argument during her talk: “Blockchain: Finding Real Opportunities Behind the Hype,” at the Casualty Actuarial Society’s 2018 Ratemaking and Product Management seminar, March 19-21 in Chicago.

She said that developing a better understanding on how blockchain (distributed ledger technology) will transform insurance in the future calls for thinking about how insurance was developed 300 years ago.

Sourced through Scoop.it from: www.carriermanagement.com

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