The Institutes RiskBlock Alliance Names Executive Director, Vice President
The Institutes today announced that
Both men aim to strengthen the role of RiskBlock as a driving force behind implementing blockchain across property-casualty insurance, life and health insurance, and annuities sectors, with the ultimate goal of lowering costs, improving the customer experience and driving efficiencies.
McDaniel will lead the effort, working closely with industry executives and other stakeholders to forge key industry partnerships, identifying the best opportunities to leverage blockchain technology across all insurance sectors, and driving the industry-wide buy-in needed to improve processes and reduce costs. Schmid will coordinate the RiskBlock consortium of insurers, brokers, reinsurers and third-party administrators. He will oversee and collaborate with industry working groups to develop and produce blockchain-based proof-of-concept applications.
"We're truly building an industry-wide movement made up of providers, industry groups, educators and others, and we couldn't be happier to expand Pat's role and bring Christopher on board to lead our efforts," said
McDaniel brings more than 25 years of experience in financial services industries to his new role as executive director. He previously led
"Blockchain represents a revolutionary opportunity for the insurance industry," McDaniel said. "I'm eager to speak with future partners and help guide this technology from an abstract concept to an everyday part of our lives."
Schmid previously led The Institutes'
"Blockchain technology has fascinated me since I first learned of cryptocurrencies in the early 2010s--although I didn't immediately see the connection with my career in insurance," Schmid said. "More recent blockchain advances, including smart contracts and permissioned blockchains, helped me to recognize the impact that blockchain technology will have on the insurance world. In the working groups, we're teaming up with first-rate knowledge partners to define what that impact will be. It's an exciting role to play."
For more information about blockchain technology and to receive updates on
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About The Institutes |
As the industry's trusted and respected knowledge leader, 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 by offering innovative educational research, networking and career resources. Our offerings include the Chartered Property Casualty Underwriter (CPCU®) designation program, associate designation programs, introductory and foundation programs, online courses, continuing education courses, leadership education, custom solutions and assessment tools.
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Read the full story at http://www.prweb.com/releases/2017/10/prweb14821514.htm
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