Great space with untapped opportunities and massive financial benefits for all parties to gain: "Blockchain has the potential to improve the way insurers record risk, increasing the speed, accuracy and transparency of our processes. As part of the TOM consultation we will be interested to see how blockchain could help us resolve some of the challenges facing our industry.”
A plan to modernise the London Market – the major international insurance market based in the United Kingdom's capital – may include recommendations to use blockchain technology to improve data access and reduce costs associated with administrative paperwork. Lloyd's, one of the London Market's key participants, held a seminar in London last week to highlight blockchains, among other technologies, to insurance market participants as part of their modernisation plan, called the Target Operating Model, or TOM.
http://www.coindesk.com/lloyds-sees-blockchains-potential-insurance-markets/
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