Artificial Intelligence, Blockchain and Deep Learning

According to, Gary Nuttall MD of The Fintech Times, "The insurance sector is embracing both the InsurTech sector in general, and blockchain in particular, with alliances such as B3I (Blockchain Insurance Industry Initiative – with 15 insurance/reinsurance members) and R3 (which includes insurance companies from Asia and the USA). The establishment of consortia, along with industry standards bodies such as ACORD (a Global Insurance Standards organisation), will enable interoperability between blockchains. Customers experience in the insurance sector still lags way behind. Blockchain allows insurers to start developing models that reduce the burden on customers such as less data re-entry, one touch buying. This can be supported with greater control over digital identity using hash functions and will allow multiple platforms to be developed that can interact with each other. The FinTech community seems to be filled with challenger banks and alternative payment providers, all of whom are competing against existing banks and service providers. The InsurTech community seems to be more collaborative with startups working with existing insurers and we're likely to see this trend grow as blockchain startups aligns with organisations that already have a major foothold in insurance."