The Institutes RiskBlock Alliance, a blockchain consortium of 30 insurance companies, has selected Deloitte to help it expand its operations into Canada.
Ted Epps, a principal with Deloitte Consulting, has stated that the partners, Deloitte, and The Institutes, have always been associating with regulators. Also, in November 2018, RiskBlock had organized a workshop with state regulators that Deloitte is helping to expand. He further stated that Deloitte has already associated with regulators in Canada to get support for the consortium formation.
Also, Deloitte has announced that it is developing two more blockchain-based insurance applications that will help to streamline the process of filing a claim. The first application gives a type of proof that lists customers who have already paid their premiums and are eligible for insurance benefits. While, the second application is a subrogation tool that helps in the collection of payments and enhance the processing of claims