Insurance giant Allianz is developing a token-based payment ecosystem

According to Forbes, Allianz Global Corporate Specialty AG (AGCS) is currently developing a “token-based” ecosystem designed to use the blockchain for global insurance payments. An Allian spokesperson said in an email to Forbes: "AGCS is further exploring blockchain technology to simplify and accelerate cross-border insurance payments for corporate customers. Currently, a project team is developing based on The advanced stage of the electronic payment system for tokens, which provides frictionless, transparent and instant transfer of funds for a range of different types of payments."