Yesterday the Institutes RiskStream Collaborative announced that Bill Keogh will join the blockchain alliance as Non-Executive Chair. He replaces Christopher McDaniel, who led the initiative since its inception and will now spearhead another Institutes initiative for natural catastrophe resilience, Helix.
Keogh is an industry veteran who previously was Chairman and CEO of insurtech solutions provider Avisen.
“My entire career has been spent intermingling the insurance market with emerging technology. So, this is a logical next step,” said Keogh. “I am excited about the potential for enterprise blockchain in this space and feel RiskStream is well positioned to be a key catalyst in streamlining shared business processes and improving operational efficiency across the industry.”
In the third quarter, RiskStream is planning to launch into shadow production its first application, First Notice of Loss for auto claims. It has numerous other applications on the go such as proof of insurance and Surety Bonds in Property and Casualty, and Mortality Monitor in Life and Annuities.
In the absence of a major funding round, RiskStream has been pragmatically operating on a project by project basis, with insurers financing projects as they progress. What wasn’t mentioned in yesterday’s announcement is that Bill Keogh is also an operating partner at insurtech venture capital firm Eos Venture Partners. And most venture capital partners have great networks of other potential funders.