A trial of blockchain technology to improve marine insurance processes is fully operational and already being expanded just months after its launch.
Insurwave, involving AP Moller-Maersk, accountancy firm EY and industry participants, was launched in May in an attempt to apply blockchain ledger technology to the Danish shipping giant’s hull and machinery insurance.
Maersk Insurance chief executive Lars Henneberg tells TradeWinds that Insurwave is now fully operational and that different functions are being added.
