The Institutes RiskStream Collaborative Launches Surety Bonds Power of Attorney Verification Lab Phase II with Surety Industry Leaders and Kaleido

MALVERN, Pa. (PRWEB) October 26, 2021

The Institutes RiskStream Collaborative™, the risk management and insurance industry's largest enterprise-level blockchain consortium announces today that twenty-five companies have agreed to launch and fund the second phase of the Surety Bonds Power of Attorney Lab. Participants represent leading sureties, brokers, agents and solution providers.

In addition, phase II has the continued support from international surety associations, including The International Credit Insurance & Surety Association (ICISA), the Surety & Fidelity Association of America (SFAA), the National Association of Surety Bond Producers (NASBP), the Surety Association of Canada (SAC), and the Pan American Surety Association (PASA).

Participants joining the Surety Bonds Power of Attorney Lab phase II include:

• Alliant Insurance Services
• Aviva Insurance Company
• Berkley Surety
• Chubb
• Liberty Mutual
• Marsh
• Merchants Bonding Company
• M.J. Schuetz Insurance Services
• Nationwide
• Newton Bonding
• Old Republic Surety Company
• Parker, Smith & Feek
• Patriot Growth Insurance Services, LLC dba Turner Insurance & Bonding Co.
• Pitts Birdsong Bonds & Insurance
• RLI
• Scott Insurance
• The Cincinnati Insurance Companies
• The Hartford
• The Surety Place
• Tinubu Square
• Travelers
• Tucker Agency
• Turner Insurance & Bonding
• ZipBonds
• Zurich North America

"We are extremely excited to announce the participants who joined this initiative," said Sandy Hampel, Director of Commercial Lines Product Management (including Surety Bonds) for the RiskStream Collaborative. "We understand how critical industry collaboration is to bring innovative leaders together to solve key industry pain points with new blockchain-based solutions built by RiskStream Collaborative and our technology partner Kaleido, that further RiskStream Collaborative's mission to streamline business processes, lower operating costs, and enhance the customer experience for the risk management and insurance industry."

RiskStream Collaborative harnesses the Kaleido technology stack to provide the insurance industry with Canopy 3.0, the next-generation insurance application marketplace designed to accelerate digital transformation and to simplify the development and adoption of blockchain technology, without the need for specialized blockchain expertise.

"RiskStream Collaborative continually proves itself as a global pioneer in the insurance industry. It is solving decades old problems through digitally transforming legacy back-office processes with the latest advances in decentralized technologies. These new industry ecosystems are targeting 10-100x better business outcomes," said Steve Cerveny, CEO of Kaleido.

RiskStream is actively recruiting and onboarding companies for the Surety Bonds – Power of Attorney Verification working group which is scheduled to kick-off October 21, 2021. To participate or learn more contact [email protected].

About The Institutes RiskStream Collaborative

The Institutes RiskStream Collaborative™ is the risk management and insurance industry's first enterprise-level blockchain consortium that brings together experts and developers to advance insurance-specific use cases via Canopy, a custom blockchain architecture. The RiskStream Collaborative is committed to equipping organizations to work together to inspire product innovation, enable efficiencies, and open new technological frontiers.

About The Institutes | Risk and Insurance Knowledge Group

The Institutes, the leading provider of risk management and insurance knowledge education and solutions, offer professional designations, including the CPCU® program. In addition, The Institutes provide introductory, foundational, and leadership courses and programs; online and continuing education courses; custom solutions; events and conferences; online and print news platforms; assessment tools; and research reports.

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

About Kaleido

Kaleido is dedicated to making blockchain, enterprise data sharing, and digital assets radically simple for organizations to adopt. Its award-winning SaaS platform enables digital transformation on an industry scale, powering next generation decentralized business networks.

Leading global blockchain consortia are in production today on Kaleido, digitizing critical business processes across insurance, healthcare, trade finance, supply chain, payments, banking, media and entertainment, retail, manufacturing, public sector, and governmental organizations.

Kaleido provides security, compliance and scalability for most stringent enterprise requirements within highly regulated industries, offering built-in high availability, disaster recovery, and 99.99% uptime achieved over the last four years, along with ISO27K and SOC 2 Type 2 certifications. Blockchain business network operators rely on Kaleido for continued innovation across the open-source and blockchain communities.

Learn more at http://www.Kaleido.io.

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