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Insurance verified Verified Outcome TRL 9

Blockchain Marine Hull Insurance Platform

domain Client: Global Shipping Giant handshake Provider: Insurwave schedule Deploy: 2018-Present
88 Impact
Enterprise Ready
Evidence Score: 5/10
Strength: High

Executive Summary

ANALYST: COI RESEARCH

The first commercial-grade blockchain platform for marine hull insurance, enabling real-time asset tracking and automated premium adjustments based on ship location.

rate_review Analyst Verdict

"A rare blockchain success story. It moves beyond 'pilot' purgatory by solving a massive coordination problem: keeping brokers, insurers, and fleet owners aligned on dynamic asset values in real-time."

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Full Audit Report Available Includes Risk Register, Technical Specs & Compliance Data.

warning The Challenge

Marine hull insurance involves insuring hundreds of ships that move between safe and high-risk zones (war zones). Managing this required brokers to manually update spreadsheets and send emails to dozens of underwriters. This latency meant ships were often under-insured or over-charged, and claims reconciliation was a nightmare of conflicting records.

psychology The Solution

Built a distributed ledger platform (Corda) where the ship's location (via API) automatically updates the risk profile on the shared ledger. If a ship enters a war zone, the 'War Breach' premium is calculated automatically and agreed upon by all nodes (insurer, broker, client). This creates a single, immutable record of coverage and pricing.

settings_suggest Technical & Deployment Specs

Integrations
Vessel Tracking APIs
Deployment Model
Private Blockchain
Data Classification
Asset / Location Data
Estimated TCO / ROI
Platform Fees
POC Summary (2017 to 2018)

"Pilot with Maersk in 2017."

shield Risk Register & Mitigation

Risk Factor Severity Mitigation Strategy
Platform Adoption Medium Onboarding major brokers.
Tech Complexity Medium SaaS frontend hiding blockchain backend.

trending_up Impact Trajectory

Audited value realization curve

Management of >1,000 vessels Verified Outcome
Primary KPIReduction in admin friction by ~40%
Audit CycleElimination of data reconciliation errors

policy Compliance & Gov

  • Standards: Global Marine Standards
  • Maturity (TRL): 9
  • Evidence Score: 5/10
  • Data Class: Asset / Location Data

folder_shared Verified Assets

description
Verified Case Study
PDF • Version 1
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Technical Audit
PDF • Audited
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Security Architecture

The "Blind Verification" Protocol

How we verified these outcomes for Global Shipping Giant without exposing sensitive IP or identities.

Private
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1. Raw Evidence

Audit ID: #PRIV-555
Evidence: Direct SQL Logs
Public
public

2. Verified Asset

Outcome: Verified
Ref ID: #COI-555

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