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Maersk began to use the blockchain for insurance
Danish shipping company used Microsoft cloud technology

The Danish shipping company Maersk, the world’s largest container carrier, officially began using the Insurwave blockchain platform for insurance in the field of maritime transport, writes the online magazine ForkLog. It is assumed that in the first year Maersk will insure with the help of the platform a thousand sea vessels, while performing more than 500 thousand digital transactions.

Maersk – the world’s largest container carrier

The Insurwave platform, developed jointly by consulting firm EY and Guardtime, uses Microsoft Azure cloud technology. Maersk Head of Risk and Insurance, Lars Henneberg, said that switching to the Microsoft Azure platform will help the company automate manual processes, improve overall business performance and reduce operating costs in the field of marine insurance. It should be noted that currently the Insurwave platform is also used by such companies as Willis Towers Watson, XL Catlin and MS Amlin. In the future, the platform developers are planning to expand its functionality, in particular, to add to it the possibility of insurance in the field of air transportation and energy.

Recall that earlier this year, Maersk announced the creation in partnership with IBM of a new company that will develop a blockchain trading platform for the global logistics industry.