IMA Financial Group Issues First Insurance Certificate on the Blockchain
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Founded in 2018, Engiven is the first B2B cryptocurrency donation software servicing nonprofit organizations.
“As a company on the forefront of blockchain technology, we have often blazed our own trail,” said Lawrence. “With IMA as a partner, we can double our impact and advance the adoption of blockchain technology in insurance and across many industries.”
Certificates of insurance (COIs) are documents containing essential details of an insurance policy in an easily digestible, standardized format. Despite contractual requirements to maintain the documents, particularly in the construction and oil and gas industries, COIs are rarely updated or reviewed, leaving companies at risk. The delivery of certificates as NFTs solves these maintenance issues by providing an updated, accessible, verifiable record.
“The issuance of certificates is a key tactical procedure for all brokers, with hundreds of millions issued nationwide each year,” said IMA Senior Vice President and Director of Innovation and Strategy
“Web3Labs allows us to research opportunities to support our clients and lead the industry in the adoption of Web 3.0 technologies,” added IMA Senior Vice President and Web3Labs Director
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Engiven is a leading cryptocurrency donation management platform providing an end to end giving solution benefiting nonprofits and their donors. Engiven’s nonprofit clients include some of the most respected charities and ministries in
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View source version on newsdirect.com: https://newsdirect.com/news/ima-financial-group-issues-first-insurance-certificate-on-the-blockchain-685737986
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