NEM Europe was hosted by Insurlab-Germany for a workshop on NEM use cases for Insurance.
Insurlab Germany organized an innovation workshop on blockchain as part of an event series about Blockchain Technology for the insurance industry. Insurlab Germany is part of the DE: Hub Initiative and boasts most of the largest insurance corporations among its members alongside many insurtech-startups. They‘ll be connected which will result in digitization of the industry, and ultimately, innovative insurance products, projects and businesses.

NEM Europe Head of Partnerships, Julian Richter introducing NEM Blockchain at Insurlab Germany

NEM Europe was invited to pitch the NEM Blockchain and introduce potential use cases for the insurance corporations. Following the pitches of NEM, Gnosis, uBirch and NOS, insurers, consultants and bankers signed up for workshops to discuss and work on different use cases.

In order to identify good use cases, Julian Richter — Head of Partnerships, Europe — introduced a decision tree created by ETH Zürich named „Do you need a Blockchain?“ to the workshop participants. Using this as a tool, the following existing problems in the insurance industry were identified: inefficiencies and lack of trust between the insurer, insured person and third parties, and potential improvements through Blockchain Technology. The group worked on existing use case ideas such as claim management improvement, and brainstormed potential new use cases during the afternoon like Atomic Swaps with multiple untrusted parties, then pitched the resulting ideas to all participants. The Insurlab workshop was organized with the goal of coming up with real projects and PoCs. The use case discussions were very productive, and we are very much looking forward to future collaborations.

NEM is committed to working on real-world use cases, to solve real-world problems for real businesses. In close conjunction with industry leaders in their own fields of expertise, NEM can achieve this. After all, who knows their business and the issues facing them than those with the experience and know-how to back it up? Be it med-tech, supply chain, track and trace, financial, insurance, e-identity, or whatever — NEM’s focus is on tangible outputs for actual business to gain an advantage through the use of our blockchain technology. Workshops such as this will expedite NEM blockchain adoption, and we would be happy to be involved with events such as these in the future. Do you have a suggestion for us? Please get in touch and let us know!
['Nem Europe']
['Blockchain Development', 'Nem Blockchain', 'Blockchain', 'Nem', 'Blockchain Technology']