Allianz Pioneers Blockchain Prototype for Captive Insurance Market

Allianz Global Corporate & Specialty SE (AGCS) has successfully trialled blockchain technology for a global ‘captive’ insurance programme including cash transfer between countries. AGCS's Allianz Risk Transfer (ART) line of business has teamed up with EY (Ernst & Young) as blockchain advisory service provider and digital agency Ginetta to create a blockchain prototype solution for the existing captive insurance programme of a long-standing ART customer with global reach. In connection with this prototype, ART also joined forces with Citi Treasury and Trade Solutions that provided the payment processing services related to Allianz’s blockchain prototype. The results prove that blockchain technology can improve the efficiency of corporate insurance transactions internationally.

 

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