German financial services giant Allianz (DE:ALVG) Global Corporate & Specialty SE (AGCS) is developing a blockchain-based ecosystem to facilitate cross-border insurance payments for its corporate customers.
Allianz is working on a token-based blockchain system, expecting it to streamline international insurance payments for its corporate customers, Forbes reported on Aug. 8. An Allianz spokesperson told Forbes that the company is still in the experimentation phase, although the basic core infrastructure of the ecosystem has already been built and tested.