ACORD Solutions Group, accounting giant 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. EY said that the distributed ledger will be used to capture information about shipments, risk and liability, and to help firms comply with insurance regulations. It will also ensure transparency across an interconnected network of clients, brokers, insurers and other third parties. “The reason we chose marine (insurance) as the starting point for this sort of market is mainly because of its complete inefficiency,” Shaun Crawford, global insurance leader at EY, told for CNBC. He added that
