UK Broker Summit 2017: Brokers encouraged to understand blockchain
Brokers told that blockchain technology is set to save money on claims process.
Chris Burniske, blockchain products lead at Ark Invest, has encouraged brokers to understand how blockchain can help reduce costs in the insurance industry in the future.
Speaking at the UK Broker Summit 2017, hosted by Insurance Age, Burniske said the technology of smart contracts, where blockchain can save time and money for insurers by automating the claims process, would not reach the UK market this year or the next.
However, he stated: "These things evolve over time. The incumbent has
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