The Institutes RiskStream Collaborative, the industry’s largest enterprise-level blockchain consortium, has created a new hub designed to accelerate innovation.
‘RiskStream Labs’ will serve as a resource for both member and nonmember organisations and will be dedicated to quickly vetting and advancing blockchain initiatives, specifically at the proof-of-concept phase.
Headed by RiskStream Collaborative leaders Christopher G. McDaniel and Patrick Schmid, RiskStream Labs will work with insurers as well as the risk management departments of non-insurance organisations and governmental agencies looking to explore targeted blockchain applications.
In addition, its hoped that RiskStream Labs will enable participants to concentrate on a variety of areas not currently in development by the RiskStream Collaborative, such as surety and workers compensation, as well such future-looking areas as IoT and analytics.
Members can also use RiskStream Labs to create proofs of concept with the long-term goal of transferring concepts onto RiskStream Collaborative’s Canopy framework.
“Our industry continues to innovate across multiple sectors, with the collective goal of bringing new ideas to fruition and ultimately to production,” said McDaniel, president of The Institutes RiskStream Collaborative.
“We’re excited to work with some of the smartest minds in our profession and provide a central point to collectively collaborate and advance the industry.”
