Editor's Note: The original title was "The Official Launch of the Development of Blockchain Application Technology Standards for the Insurance Industry"
Source: Shanghai Securities Journal
Shanghai Securities News (Reporter Huang Lei) On December 27, "the launch of the insurance industry's blockchain application technology standard establishment work and the blockchain insurance application white paper release ceremony" was held at the Shanghai Stock Exchange and officially released the The "White Paper on Blockchain Insurance Application" started the construction of the insurance risk control blockchain platform and the formulation of "technical standards for the application of the insurance industry's blockchain", marking the official opening of the standardized construction of blockchain technology in the insurance industry. The follow-up work of standard development will rely on the "Trusted Blockchain Promotion Plan" of the Ministry of Industry and Information Technology of the Ministry of Industry and Information Technology, and work with industry experts to advance the development of "standards for insurance industry blockchain application technology groups" and actively apply for industry standards.
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The formulation of this standard complies with the development trend of blockchain application in the financial industry, and strengthens the supply of blockchain application technology standards in the insurance field. It is the Shanghai Stock Exchange's gathering of industry forces and the implementation of the Central and Banking Regulatory Commission on accelerating the promotion of blockchain. The specific measures of chain technology and industrial innovation development are not only conducive to deepening the reform of the supply side of financial standards, helping to modernize financial governance capabilities, but also helping to establish a standardized on-the-spot open trading market, improving the overall operating efficiency and innovation capabilities of the industry, and serving the insurance industry. The healthy and orderly development is also of certain significance to improving China's right to speak internationally and formulate rules.
Strengthen standard leadership and cultivate new impetus for large-scale use of blockchain technology
The integrated application of blockchain technology is playing an increasingly important role in new technological innovations and industrial changes, and standardization is the basic prerequisite and important driving force for leading the application and innovation of blockchain technology. Aiming at problems such as the lack of standards and application specifications, and scattered application models in the current large-scale use of the blockchain, the Shanghai Insurance Exchange, under the guidance of the China Banking Regulatory Commission, actively leverages the strength of the credibility platform and cooperates with the "Trusted Blockchain" The “Promotion Plan” and the insurance industry institutions jointly work on the formulation of the “Insurance Blockchain Application Technology Community Standards” to enhance the industry ’s ability to integrate research, development, and application of blockchain technology, and step out of a “financial standard for the benefit of private enterprises”. The path has received the active support of all parties. At present, more than a hundred industry organizations such as China Life Insurance, China Life Insurance, China Taiping, China Re Group, CPIC Group, Taikang Insurance Group have signed up to participate in the development of standards.
The formulation of this standard will continue to empower the insurance industry from multiple aspects: First, unify industry application standards, reduce technical friction between different companies and different application scenarios, promote cooperation and consensus among insurance companies, and improve the overall operation of the insurance industry effectiveness. The second is to accelerate the identification of the main application direction of the industry, promote the breakthrough of blockchain technology, promote the innovation and development of the industry, and effectively solve problems such as repeated construction and non-uniform standards. The third is to consolidate the foundation of blockchain innovation, and to combine industry efforts to promote breakthroughs in blockchain application technology standards, which can create an open, fair, secure, and efficient innovation environment for the integrated development of insurance and blockchain technology, and scale the application of the scene. Expansion into new kinetic energy.
Adhere to technology attributes, multiple blockchain business scenarios landing applications
Technology attributes are important attributes of financial infrastructure. Fintech has broad application prospects in financial infrastructure. As a national financial infrastructure, the Shanghai Insurance Exchange always adheres to the establishment of science and technology, firmly grasps the trend of the development of the integration of fintech and the insurance production organization, and actively uses the blockchain and other fintech to build an on-site insurance trading market and promote the development of the zone. Exploration of application of block chain technology in insurance industry.
In terms of the underlying technology research and development, the official low-level technology platform and white paper of Baojiao Chain was officially released in 2017. In 2018, the second-generation low-tech platform of Baojiao Chain was iteratively completed and passed the evaluation and certification of the Ministry of Industry and Information Technology of the Information and Communication Technology Institute. 33 items, can provide the industry with high stability, high security, autonomous and controllable industrial commercial blockchain underlying infrastructure platform, help build a stable, efficient, and secure insurance ecological environment, and lead the industry's scientific and technological progress and innovative development. In terms of industry application scenarios, actively cooperate with institutions to explore and launch 10 insurance application scenarios, and multiple application scenarios have won gold and first prizes in major events, serving dozens of insurance companies and their upstream and downstream institutions in the industry chain. Form the atmosphere and concept of insurance blockchain applications.
The conference also formally released the "White Paper on Blockchain Insurance Application", which was jointly prepared by 10 China and foreign institutions, led by China Communications and Shanghai Securities Exchange. The "White Paper" focuses on 11 application scenarios, including reinsurance, health care, insurance risk control, insurance asset management, and cross-border trade insurance. It focuses on the application of blockchain technology in the insurance industry around the four dimensions of risk control, talent, supervision, and cooperation. In order to guide the integration and development of the blockchain and insurance industry, it laid the foundation for industry blockchain application standards.
At the meeting on the same day, the construction of the insurance risk control blockchain platform was officially launched. PICC P & C, CPIC Ping An, Ping An Ping An, Dadi P & C, China United Insurance, Anda P & C, Sumitomo Mitsui, Shidai P & C, Ansheng 14 insurance institutions including Insurance, Sunshine Property & Casualty Insurance, Huatai Property & Casualty Insurance, Yongcheng Property & Casualty Insurance, Dubang Property & Casualty Insurance, and Huaan Property & Casualty Insurance officially announced their joining the alliance chain platform. The insurance risk control blockchain platform takes insurance fraud in the field of travel insurance as the starting point, and aims to find duplicate insurance behaviors during the insurance underwriting phase through data sharing, providing organizations with more dimensions of insurance risk control information and improving The level of institutional anti-fraud reflects the market value attributes of insurance risk control information.
It is reported that in the next step, under the guidance of the China Banking and Insurance Regulatory Commission, the Shanghai Insurance Exchange will give full play to the role of factor aggregation, and take the application of the on-site insurance trading market business as a breakthrough to continue to create a smart platform for cross-chain security and enrich the cross-chain ecosystem. , Do a thorough study of the existing multiple application scenarios, promote the implementation of multiple application scenarios and the development of insurance blockchain application standards, establish a good cooperative relationship with industry institutions through open output, promote the insurance industry to reduce costs and increase efficiency, and restructure insurance The industry credit formation mechanism promotes the deep integration of blockchain technology and the real economy.