Mission and Goals
The platform enables enterprises to customize the configuration of insurance products and manage the end-to-end digital policy lifecycle more efficiently and quickly.
The use case was developed through the design approach of Insurance Blockchain Sandbox .
AON, Banca Popolare di Sondrio, Banca Mediolanum, Mediolanum Assicurazioni, NOBIS, Reale Group and UBI participated in the initiative promoted by Cetif Advisory and Reply, with the collaboration of IVASS.
All players played an active role during all the different phases of the initiative: from the concept design of the platform to the placement of the policies on a restricted market for the three-month period.
Within Sandbox was the blockchain based platform that enabled participating banks and insurance companies to be able to place three parametric, pre-determined indemnity, self-liquidating guarantees: weather, flight delay, and baggage delay.