LLOYD ’ S OF LONDON MEETS CRYPTO :
Lloyd ’ s of London , the historic insurance marketplace established over three centuries ago , is supporting digital asset protection policies facilitated through the public Ethereum blockchain . These policies , which can be paid for directly using cryptocurrency , are made possible by Lloyd ’ s coverholder Evertas and smart contract insurance provider Nayms .
• Evertas and Nayms use a public
London Lloyd ’ s Building
blockchain to help coordinate between brokers , insurers and the insured .
• The partnership allows customers to pay in USDC or native crypto , or to place policies completely on-chain . techniques to bolster privacy and ensure user data remains secure . Regulatory compliance poses a challenge , particularly in heavily regulated sectors like finance and insurance . Integrating blockchain solutions in these industries requires careful alignment with existing regulations and standards to ensure legal and operational viability .
“ Having adopted the fundamental technologies of the digital era – social , mobile , analytics , and cloud ( SMAC ) – most organisations are now witnessing the emergence of a new wave of digital innovations . This upcoming wave now encompasses Distributed Ledger Technology ( DLT ), Artificial Intelligence ( AI ), Extended Reality ( XR ), and Quantum Computing , collectively known as DARQ . Although these technologies are at different stages of development , they are set to become the primary drivers of what Accenture refers to as the post-digital age ,” says Jim .
“ Just as SMAC facilitated new levels of collaboration and connectivity between insurance companies , individuals , and organisations , DARQ technologies — particularly Distributed Ledger Technology ( DLT )— are poised to revolutionise entire ecosystems , markets , and value chains . DLT will enhance business networks by securely connecting industry participants with greater ease and on an unprecedented scale .”
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