Red Chalk Group, a trusted strategic advisor to leading organizations, announced the first blockchain event in North America dedicated exclusively to the insurance industry – Blockchain Insurance Summit.

According to the announcement, the event will be held in Chicago, Illinois on November 8, 2016, that will bring together insurance industry leaders and technology experts in the blockchain industry. The event will highlight the latest thinking in applying blockchain technology to the insurance industry.

“We are very excited to be hosting a dedicated Blockchain event for the insurance industry. This program is the only US program to be 100% focused on insurance with topics covering new blockchain enabled products, consortiums such as R3, regulatory challenges, and emerging identity standards. This new and exciting event brings together industry leaders and technology experts in blockchain to highlight the latest thinking in applying this ground-breaking technology to the insurance industry,” Raymond Zenkich, Managing Partner of Red Chalk Group said.

The Blockchain Insurance Summit will see key highlights including Richard Magrann-Wells, executive vice president with Willis Towers Watson, who will provide unique and pragmatic insight into blockchain’s potential through distributed ledgers, smart contracts, and big data. Ryan Rugg, director of R3CEV will emphasize on how insurance companies can work together through consortiums to accelerate blockchain adoption and Caitlin Long, Chairman of the Board & President of Symbiont, will discuss on lessons learned from banks and their blockchain initiatives and its applications in insurance, among others.

"We have just started to uncover innovative cases in blockchain usage by the insurance industry, relating to peer-to-peer products, new business models, and efficiency-related initiatives. Some of the areas targeted include fraud detection, claims processing, record keeping, and new identity-driven applications, where the blockchain is seen as this once-in-a-lifetime catalyst to re-engineer, re-invent and re-imagine existing practices with new ones," William Mougayar, speaker/moderator at the Blockchain Insurance Summit said.

Chicago was chosen to host the event as it plays a central role in for many insurance carriers and brokers around the world and its global importance as a financial services center. Red Chalk Group is a boutique strategic advisor to senior executives at leading, global financial organizations and it is routinely engaged to help companies understand and navigate disruptive technologies.