The Institutes Launch Online Course on Blockchain in the Insurance Industry

MALVERN, Pa. (PRWEB) November 01, 2018

The Institutes, the leading education provider for the risk management and property-casualty insurance industry, have introduced a new online certification in blockchain technology. Blockchain and the Insurance Industry is designed to educate insurance and risk management professionals at all levels about the projected industry-wide impact of blockchain applications and initiatives.

The four-hour video course explores the basics of blockchain, existing and theoretical use cases, and ways professionals can apply blockchain concepts to real-world situations. It is specifically intended for a nontechnical audience with limited knowledge of blockchain and distributed ledger technology.

"The blockchain revolution is here, and insurance professionals need to take a closer look into how this groundbreaking technology will affect their jobs and businesses," said Adam Carmichael, vice president of Assessments at The Institutes. "To date, most blockchain exploration has been done in the C-suite and technology departments, and more education and training to ready the entire insurance industry's workforce is needed. This course will arm blockchain beginners with a better understanding of how this game-changing technology will affect day-to-day business operations."

The curriculum was developed with the expertise of leadership and staff from The Institutes RiskBlock™ Alliance, the insurance industry's largest blockchain consortium.

"Blockchain is poised to have a significant impact on the insurance industry," said Pat Schmid, Vice President of The Institutes RiskBlock Alliance. "By using blockchain or Distributed Ledger Technology and integrating smart contracts, untrusting competitors within the industry can securely share data with one another on a permissioned basis, abating duplicative efforts, minimizing reconciliation issues and reducing costs. The ability to use smart contracts extends potential applications and makes automating large chunks of insurance-related processes more practical. With this course, we can educate a wide audience of insurance professionals and help facilitate the adoption of blockchain across the industry."

Early course completers have remarked that the course's structure, concise videos and nontechnical subject matter made learning easier and helped them view the insurance industry differently:

• Matt Whisenant, CPCU, vice president of Insurance Services and director of Underwriting at FHM Insurance Company: "From node to nonce, the Blockchain in the Insurance Industry course provides a solid foundation from which to build an understanding of blockchain technology, the transformative power that resides within and the potential impact it may have upon each stakeholder associated with the insurance product."
• Vijay Appaswami, lead business analyst, ValueMomentum: "I appreciate that this course gets to the point and stresses the relevance and practical use of blockchain, specifically for insurance. The course details insurance use cases and intended benefits to insurers and is structured so that anybody can easily and quickly gain deep insights on the blockchain's past, present and prospective future."
• Andrea Frantzen, graduate student studying the impact of blockchain on the insurance industry: "Taking the course helped me understand that blockchain has a great potential to make the industry more effective, lower costs and increase customer lifetime value. It was a great way to learn how blockchain can be used in the real world."

Enrollment details and more information about the course, which retails for $149, can be found at https://www.theinstitutes.org/blockchaincourse.

About The Institutes | Risk and Insurance Knowledge Group
The Institutes are committed to meeting the evolving professional development needs of the risk management and insurance industry. We prepare people to fulfill their professional and ethical responsibilities via innovative education, research, networking and career resources. We offer 28 designation programs, including the Chartered Property Casualty Underwriter (CPCU®) program, along with introductory, foundation, and leadership programs; online and continuing education courses; custom solutions; assessment tools and industry consortiums.

CPCU is a registered trademark of The Institutes. All rights reserved.

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