Maersk Launches the First-Ever Blockchain Marine Insurance Platform

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AP Moller-Maersk, the Danish shipping conglomerate, has launched the first-ever blockchain platform for marine insurance. Known as Insurwave, the platform aims to leverage the blockchain to revolutionize the management of risk in the industry as well as interactions between stakeholders. The platform was built on R3’s Corda blockchain and, as reported by Seatrade Maritime News, it is in commercial operation at consulting firm Willis Towers Watson, insurance companies XL Catlin and MS Amlin, and Maersk itself. Alleviating Inefficiencies Maersk has been trialing the platform and will continue to use it for marine hull insurance after a successful pilot. Insurwave is expected

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