Yesterday the RiskBlock Alliance
announced a name change to The Institutes RiskStream Collaborative. The update to the insurance consortium’s name indicates an expansion of technologies beyond blockchain to include other InsurTech solutions. Additionally, RiskStream’s chosen blockchain technology, R3’s Corda, technically is not a blockchain but a distributed ledger technology (DLT). The “stream” terminology is an abbreviation streamlining processes.
For most financial services organizations, including the insurance sector, new technologies such as A.I., the Internet of Things (IoT) and blockchain represent a trifecta of enormous technological upheaval.
“Our new name – RiskStream Collaborative – allows us to emphasize our consortium’s objective around creating solutions to remove barriers and make the risk management and insurance industries run more smoothly,” said Christopher McDaniel, president of the RiskStream Collaborative.
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