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Insurance on the Blockchain

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EY

200 George Street

Sydney, NSW 2000

Australia

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Distributed Ledger Technology is revolutionising the financial services industry, from payments, to asset management, trading and smart contracts for insurance. This event will showcase how Blockchain is solving actual pain points and delivering value in the insurance sector through some real examples, and the role of standards in the support of this.

Do not miss out on this great opportunity! This is your chance to see, experience and engage with the future of Insurance.

This event is sponsored by EY.

** Attendees should go to the reception in the lobby of the EY Centre, on 200 George St, where they wil be escorted to the conference room.

Event Agenda

12:00 - 12:30 PM Lunch will be available before our prompt start at 12:30 pm



12:30 – 12:40 PM Welcome
Steven Tuften, ACORD



12:40 – 12:55 PM R3, DLT and Blockchain
Niki Ariyasinghe, R3
The R3 consortium is the world’s largest alliance committed to delivering the next generation of financial infrastructure based on distributed ledger technology (DLT). R3 has worked closely with over 100 financial institutions, regulators and technology companies to develop Corda, its distributed ledger platform designed specifically for businesses. This session will focus on the unique value creation opportunity offered by this technology.



12:55 – 1:10 PM ACORD Global Insurance Standards
Steven Tuften, ACORD
ACORD was formed in 1970 to help the insurance industry solve a common problem. How do we make commercial transactions more efficient.

Over the last 47 years, ACORD has taken that principle and through industry collaboration, developed standards that help insurers around the globe realise efficiencies across the entire insurance value chain.

This session will provide a brief introduction to ACORD, its mission and ongoing work across the globe to move the insurance industry forward.



01:10 – 1:25 PM Introduction to R3’s Center of Excellence for Insurers and Reinsurers
Steven Tuften, Acord and Niki Ariyasinghe, R3
In 2016, ACORD and R3 began a partnership to foster innovation within the insurance industry around the application of Blockchain/DLT technology. ACORD and R3 formed the Center of Excellence for Insurers and Reinsurers to bring blockchain/DLT experts together with insurance industry experts to identify and solve pain points applicable to Blockchain/DLT. unique technology value.

This session will share some of the goals and vision for this forum as well as real use cases being explored through industry projects.



01:25 – 2:10 PM Practical Applications of Blockchain in General Insurance
John Blicq, Strategic Innovation, Suncorp



02:10 – 2:40 PM Afternoon Tea



02:40 – 3:25 PM Better-working insurance: moving blockchain from concept to reality: Blockchain in marine insurance
Andrew Parton, Ernst & Young
Marine shipping and insurance is facing a number of significant issues today across the value chain that are readily addressed by distributed ledger technology. Hear about how EY, in a consortium of key players has built a platform that addresses these issues and re-invents the business model, and the lessons learned along the way.



03:25 – 3:55 PM Insurance Blockchain Use Cases & R3 Demo
Niki Ariyasinghe, R3
R3 has spent the past 2 years actively exploring how blockchain technology can be uniquely useful to the Insurance industry. This has included a range of projects focusing on key business problems across the general, life and re insurance sectors. This session will provide R3’s perspective on the most promising use cases in the industry and will include an Insurance demo on the Corda platform.



03:55 – 4:10 PM Accelerating blockchain/DLT development with Standards
Steven Tuften, ACORD
Speed to market is key to gaining a competitive lead with new disruptive technologies such as blockchain. How can industry standards help insurtech innovators implement blockchain/DLT solutions with greater agility? Standards can help acelerate design effort on new solutions by contributing many person years worth of intellectual capital gained through industry collaboration. Standards can mean less time designing and more time innovating. In this session, ACORD will demonstrate some of their industry owned assets and how they can help blockchain implementers accelerate the time to market for their solutions.



04:10 – 4:55 PM Panel Discussion “What does the future hold for Insurance on Blockchain and DLT?”
Kate Jackson-Maynes, King Wood & Mallesons
John Blicq, Suncorp;
Andrew Parton, Ernst & Young
Niki Ariyasingh, R3
Dietmar Meyer, Munich Re

Moderator: Steven Tuften, ACORD

Predicting the future is often fraught with peril but boundless opportunities do exist for those who can channel their organisations talent down the right technology path. Determing the Probable from the Possible is the goal of all strategists for only then can one maximise your investment in emerging technology.

In this session we tap into the minds of our panel of experts and discuss not just where the industry is focused at present but where it could take us with distributed ledger tecchnology.



04:55 – 5:00 PM Closing Statements



05:00 – 6:00 PM Cocktail Networking Reception



ANZIIF CIP Points: 4
Dress code: Business Casual

Speaker Bios

Niki Ariyasinghe

Niki is a global strategist passionate about the frontier of blockchain technology and its potential to spur the development of innovative business models in insurance.

He currently heads up partnership development in Asia for R3, a network of over 150 financial institutions, regulators and partners developing blockchain for use in financial markets. R3 created and open-sourced “Corda”, a world-first blockchain platform designed specifically for enterprise-grade companies.
Through his career Niki has worked across a range of sectors including fintech startups, financial services and management consulting.He completed his MBA at Berkeley and was previously the head of Strategy at ING in Australia.

Kate Jackson-Maynes

Kate has over 15 years' experience advising on the full range of financial services regulation including anti-money laundering and counter-terrorism financing, sanctions, privacy, responsible lending, banking and financial services regulation and payments laws and the ground-breaking areas of blockchain and regtech. Kate applies this expertise in a range of different contexts including in developing new products and business structures.

Kate also has expertise in conduct risk management, conducting independent reviews and dealing with regulators. Kate has conducted internal investigations into a number of financial businesses and advised boards, legal counsel the business on practical steps to increase compliance and enhance corporate culture. These investigations are a crucial part of demonstrating to regulators that a business is embracing a strong compliance culture.

Andy Parton

Andy Parton is a Sydney based Partner at EY. Andy has worked in financial services for the past 24 years across capital markets, wealth management, life and general insurance. During this time he has shaped and led complex business and IT transformation engagements for clients in the UK, mainland Europe, Asia, and Australia spanning business strategy, IT strategy, offshoring, outsourcing, and large scale software implementation and business transformations. In particular, Andy led the shaping and implementation of a $100m business transformation for a UK General Insurance client redesigning their operating model, implementing new systems and processes, and offshoring business and IT roles to reduce cost and position for growth. Andy now specializes in business transformation in the general insurance sector.

Within EY, Andy is Global Client Service Partner for a large global commercial and specialty insurer and is responsible for all of the services that EY provides to them. Andy also leads the Insurance IT strategy, delivery practice and InsurTech practice in EY Oceania and sits on EY’s Global Insurance Executive Committee. Andy is a regular industry commentator having spoken several times in Australia on the topics of digital insurance, disruption, and innovation. He is also a board member of a peak body charity in Australia.
Prior to joining EY, Andy originally trained as a mechanical engineer and then worked at Accenture for 22 years where most recently he ran the insurance business in Australia and New Zealand. Andy has a BSc. (Hons) in Information Technology from the University of Salford.

Steven Tuften

Steven Tuften is the Australia - New Zealand Representative for ACORD and manages both the Asia-Pacific General Insurance and Australia-New Zealand Life programs.

His current role is to lead the regional programs to drive greater industry efficiency through the creation of industry-wide standards supporting the General Insurance (GI) and Life Insurance and related industries.
Steven actively provide supports to ACORD's regional members implementing industry standards as well as providing local advocacy and education about ACORDs Reference Architecture assets, Life insurance and GI B2B messaging standards.
He is passionate about all aspects of information and data management and in particular data standards, governance and frameworks.
With over 14 years in the insurance industry and 28 years experience in IT, more than half of those focused on data and information management, he possesses a broad and proven knowledge of both data and information management and its application to improving the efficiency of insurance organisations.

Dietmar Meyer

Dietmar Meyer has over 25 years experience in the insurance and reinsurance industry, initially as a consultant for Mummert + Partner; and later as a Partner in the same company. His main focus were the fields of strategy, organization, process (re)engineering and IT consulting. In 2004 he joined Munich Re as Head of Technical Accounting. In this position he also represents Munich Re in the Ruschlikon Steering Committee aiming to develop e-processing in reinsurance administration through the implementation of the ACORD standard messages.



  • Niki Ariyasinghe

    Niki Ariyasinghe

    R3

    Director of Partnerships

  • Kate Jackson-Maynes

    Kate Jackson-Maynes

    King & Wood Mallesons

    Partner

  • Dietmar Meyer

    Dietmar Meyer

    Munich Re

    Head of Technical Accounting

  • Andrew Parton

    Andrew Parton

    Ernst & Young

    Partner, Global Lient Service Partner - Insurance

  • Steven Tuften

    Steven Tuften

    ACORD

    Representative for Australia & New Zealand


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EY

200 George Street

Sydney, NSW 2000

Australia

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