Two weeks ago
Accenture announced the blockchain integration of an existing Zurich back-end system for surety bonds. Ledger Insights approached Accenture for more detail.
Surety bonds are used to guarantee performance, for example, in construction contracts. In this sort of project, an insurer will provide a surety or guarantee to the client or building owner in case the construction company fails to meet their obligations.
The project started in November 2017 and Accenture spent four months producing a minimum viable product. After that
Accenture refined the product for production, and it went live two months ago. The only parties that have access are the commercial partners and customers that are registered to use the platform in Benelux.
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