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IBM, Standard Chartered, AIG pilot first multinational, blockchain-powered insurance policy
Posted On 20 Jun 2017
International Business Machines Corporation (IBM) announced in a press release CoinReport received that it, along with American International Group Inc. (AIG) and Standard Chartered Bank plc, has successfully delivered the first multinational, “smart contract”-based insurance policy using blockchain, a distributed ledger technology.
The blockchain solution creates a new level of transparency and trust in the underwriting process, allowing Standard Chartered and AIG to accomplish multinational coverage more expeditiously. Coordinating placement and management of various insurance policies across multiple countries is highly complex. Created by IBM, the pilot solution is based on Hyperledger Fabric – a blockchain framework and one of the Hyperledger projects hosted by The Linux Foundation.
The three corporate giants collectively transformed a multinational, controlled master policy written in the UK, and three local policies in Kenya, Singapore and the US, into a “smart contract” that offers a joint view of policy documentation and data in real-time. It also enables visibility into coverage and premium payment at the master and local levels and automated notifications to network partakers after payment events. The solution also demonstrates the capability to add third parties in the network, such as auditors, brokers and other stakeholders, providing them with a customized view of policy and payment documentation and data.
These three jurisdictions were selected because the US is a large and complex market, Singapore is a growth market for Standard Chartered and Kenya has a particular regulatory requirement, called “cash before cover,” which means that cover must be paid for before it is valid.
“We chose these three territories because of their importance to Standard Chartered and also because of their regulatory complexity, so that we could fully test how blockchain technology might make these contracts work more efficiently,” said Emily Jenner, head of Insurable Operational Risk at Standard Chartered.
Rob Schimek, CEO of Commercial, AIG, stated, “Our pilot proves blockchain has a powerful role to play in the future of insurance. Any technology, including blockchain, that can increase trust and transparency for an industry whose pillars are built on that, should be fully explored. We’re excited to be delivering innovation that matters to our clients – and co-developing key components of this new technology together.”
To better comprehend the potential of blockchain to reduce friction and increase trust in the other areas of the insurance value chain, the three corporations selected to carry out this enterprise in one of the most complicated areas of Commercial Insurance – multinational risk transfer.
According to the press release we received, this is how it works:
- Blockchain, a transparent, immutable and security rich joint digital ledger offers a single view of truth across all participants while delivers selective visibility to players based on their credentials.
- It allows recording and tracking of events and associated payments in each country associated with the insurance policy.
- Without the agreement of others on the network, no one party can modify, delete or even append any record.
- This degree of transparency assists in reducing errors and fraud, in addition to the necessity for the parties to contact each other to view policy and payment data and the status of policies.
“As a global bank we have to ensure consistent, trustworthy and secure financial transactions, be that as part of our business or as customers ourselves,” said Standard Chartered’s Jenner. “By creating a process by which we can arrange multinational insurance contracts through blockchain we not only have transaction security but contract certainty across multiple business locations.”
IBM Blockchain general manager Marie Wieck commented, “There is tremendous opportunity to apply advancements in blockchain technology to transform the insurance industry. By creatively leveraging smart contracts to help address tough regulatory requirements across different markets, we are seeing the enormous impact blockchain can have to improve efficiency and open up new business models.”
Images courtesies of respective corporations via PR firm Ketchum
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Über die Saga welcher britischen Plastischen
Chirurgie ferner des Verbandes welcher „BAPS British
Association of Plastic Surgeons“ gleichwohl solcher
beiden Weltkriege u. a. welcher Zwischenzeit wird
in der von Wallace, „Honorary Archivist to the
Association“ herausgegebenen Vierzigjahresfestschrift
mit vielen Einzelheiten berichtet (Wallace
1987).
Zur gleichen Zeitraum wie Ganzer (1879–1960)
in Berlin erbrachte Kazanjian in Etaples nahe
Boulogne darüber hinaus den Frontlinien den wichtigen
Mitwirkung dieser prothetischen Zahnheilkunde zu Händen
Chip Erstbehandlung jener Schusswunden des Gesichtes.
Kazanjian war als Zahnchirurg Mitglied
welcher „First Harvard Unit Attached to the British
Expeditionary Force“ (Kazanjian and Converse
1949).1920 kehrte er in die Amerika zurück, trat in
Chip „Harvard Medical School“ ein nebst wurde
„einer der führenden Plastischen Chirurgen solcher
Welt“ (Converse 1977).
Dasjenige plastisch-chirurgische Konzept
in Zeitdifferenz der „Adoleszenz
obendrein des Wachstums“ 1918–1939
Zusätzliche wichtige Details dieser Entwicklung
des Konzeptes solcher Plastischen Chirurgie in den
Amerika darüber hinaus hinauf internationaler Fläche bis zum
Unglück
145 4
4.1 • Die neue Episteme – Mann, Gillies, Converse
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Bei Obhut des „Emergency Medical Service“
wurden spezielle Zentren bei Chip Darlegung
von Seiten Verletzten mit die „Bombardements“ eingerichtet.
Gillies (. Abb. 4.3) setzte einander zu Gunsten von das
Schaffen von Seiten geeigneten Einrichtungen zu Gunsten von Chip
Medizinische Versorgung aller Patienten, des Militärs, der zivilen
Bevölkerung ansonsten welcher bleischwer Brandverletzten
die eine plastisch-chirurgische Überlegung benötigten.
Die plastisch-chirurgischen obendrein maxillofacialen/
kieferchirurgischen Zentren wurden zu
Ausbildungsstätten bei Chirurgen solcher westlichen
Alliierten inbegriffen beachtlichen Fortschritten hinaus diesen
Gebieten.
Ähnliche Einheiten sind in den Army and
Navy General Hospitals in den USA eingerichtet
worden. Handchirurgische Zentren, allg.
verbunden inbegriffen plastisch-chirurgischen Zentren,
standen zusammen mit welcher Stab von Bunnell. In den
Jahren des 2. Weltkrieges erreichten in welcher Öffentlichkeit
unterschiedliche Plastische Chirurgen ebenso wie Wallace,
Clarkson, Mathews, Gibson, Mowlem ebenso wie
eine große Anzahl zusätzliche Beachtung obendrein Bekanntschaft.
Chip Ziffer von 25 britischen Fachärzten zu Händen Plastische
Chirurgie wurde erreicht.
Dies größte britische Angelpunkt entstand in East
Grinstead für die „Royal Air Force inbegriffen McIndoe
als Kommandeur“. In dem Angelpunkt konnten bis
zu 200 Patienten aufgenommen darüber hinaus „zahlreiche
britische Plastische Chirurgen durchtrainiert werden“.
Aufgrund ihre Aktion hatte dieses Fachgebiet in der
britischen Öffentlichkeit großes Wertschätzung erreicht.
McIndoe wurde auch pro seine Leistungen
in den Geschlecht erhoben (McDowell 1978).
Gleichzeitig inkl. Deutsche Mark nächtlichen Einsatz welcher
V1 weiterhin V2 über London im Anno 1943 darüber hinaus der
folglich enorm gesteigerten Nr. der Verletzten
wurde dies „Wundermittel“ Penicillin in den plastisch-
chirurgischen Einheiten eingeführt. Im Februar
1944 wurde auf solcher Lager einer von Mowlem
geleiteten Trockentest restlich die einbegriffen dem „Antibioticum“
erreichten Resultate (jemandem) Rat geben. Chip 24 beteiligten
Chirurgen hatten nach jener Anwendung vonseiten Penizillin
eine beachtliche Verbesserungen dieser Ergebnisse
(sich) blicken lassen Kennerschaft. Indem einer Pause
rief „Sir Harold“, solcher zum Schweigen aufgerufen
hatte, „was denkt ihr ‚chaps‘ über welches Aufkommen eines
‚Plastic Club‘?“ Chip Erwiderung war unmittelbar nebst
enthusiastisch. Qua Erarbeitung jener notwendigen
Finessen wurde bei der Beisammensein
am 20.5.1944 in London Chip Satzung der British
Association of Plastic Surgeons beschlossen. Zu Händen
die Abstimmung dieser Gründungsmitglieder für den Fall, dass eine
„Association“ gebildet Werden. Im Folgenden mussten
Chip Vorbereitungen unterbrochen Zustandekommen. Selbige
konnten eingangs im Sommer 1946 wiederkehrend aufgenommen
Anfang (Barron 1987).
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Welches hätte vonseiten Lexer (1931) erkannt Anfang
Trainiertheit. Es kann, schon hier, angenommen
werden, dass er dieses Anerkennen vermeiden
wollte. Bei DEM Beurteilen jener Plastischen Chirurgie
als Wiederherstellungs-Chirurgie/-Art und Weise hat
er die bei DEM Vorstellung der Plastischen Chirurgie
übergeordnet notwendige „Kunst des Heilens“
(Porter 2000) un… berücksichtigt.
Hinsichtlich das Nichtbeachten jener in Deutsche Mark Satzteil
„plastisch“ immanenten ästhetischen Einfluss
konnte er Chip wesentlichen, differenzierenden
neben speziellen Eigenschaften solcher Plastischen
Chirurgie manipulieren. Auf diese Weise blieb seitens ihm
das Lebensregel der Einheit dieser Chirurgie qua allgemeines
Umfeld unübertroffen. Dies abstrakte
Satzteil „Kunst“ (Kluge 1989) blieb indem jener allgemeinen
Chirurgie zurückhalten.
Inbegriffen Panorama hinaus Chip dargestellte Sage erweist
sich, dass ein Gutteil dieser vonseiten Lexer (1931)
definierten „Wiederherstellungschirurgie“ vorweg
DEM Wissenszweig der Plastischen Chirurgie angegliedert
worden war. Dieffenbach, ordentlicher Hochschulprofessor
pro Chirurgie an welcher Königlichen Universität in
Berlin, hatte Chip „Plastische Chirurgie“ (1845–
1848) (▶ Abschn. 2.3) charakterisiert
» … qua den Wiederersatz (Chip Wiederherstellung)
eines unrettbar gegangenen oder Chip
Fabrikation welcher Qualität eines verstümmelten
Theils des menschlichen Körpers (angeborene
Oder erlittene Deformität) nennen unsereiner
Plastische Chirurgie. Ein großes, wichtiges,
künstlerisches Gebiet, auf Deutsche Mark Chip
Physiologie
solcher Chirurgie Chip Hand reicht Dieffenbach
1845/48, S. 14).
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