Aon Announces Successful Completion of Innovative Pilot Placing Insurance Using Blockchain Technology
Aon Announces Successful Completion of Innovative Pilot Placing Insurance Using Blockchain Technology
DUBLIN, April 11, 2024 – Aon plc (NYSE: AON), a leading global professional services firm, announced the successful completion of an innovative pilot for placing insurance using blockchain and smart contract technology. The pilot was conducted with Nayms SAC Ltd., a crypto-compatible insurance marketplace, and Copper.co, a digital assets custodian.
Notable benefits of blockchain and smart contract technology for insurance stakeholders include access to new sources of capital, enhanced transparency, and reduced administrative costs and processes. Nayms’ platform facilitates tokenization of risk-bearing capital and can provide investors in this asset class with liquidity through secondary trading of their positions.
“Aon is committed to investing in new solutions to better serve our financial institution and commercial clients who are testing and developing innovative products underpinned by blockchain technology,” said Jillian Slyfield, chief innovation officer at Aon. “The potential benefits
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