‘Big four’ accounting house EY, technology giant Microsoft and the Maersk, the world’s largest shipping company have combined to launch the world’s first marine insurance blockchain platform.
Build using Microsoft’s Azure cloud platform, the blockchain solution is the first of its kind in the marine insurance industry and connects clients, brokers, insurers and third parties on a common ledger. This shared database also collects information about logistics risks and shipments to integrate the data with insurance contracts.
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