Blockchain is changing the way we do business. Distributed ledger technology is still currently under-applied in insurance and so AIA is looking for working examples of how blockchain can be used in our industry.
The AIA Blockchain Challenge is the first global blockchain challenge focused around InsurTech, inviting start-up teams to make their mark through the development of blockchain technology on one of the world’s most progressive industries.
The virtual challenge will begin in late September 2016.Teams will have until 20 November 2016 to complete the submissions. Applicable top entries will be selected to take part in a unique integration with AIA, one of the largest insurers in the world.
All registered participants will have the chance to meet other developers, insurance practitioners and executives as well as blockchain specialists who can help mentor you during the virtual challenge via the AIA — Blockchain Challenge Network.
AIA will provide ‘front door access’ to senior leaders and decision makers for 5 winners to pitch for future business with AIA as a client. These winners will receive:
- US$5, 000 cash prize rewarding the efforts put into conceptualising their solution
- Exposure to the R3CEV consortium
- A trip (flights & accommodation covered) to Hong Kong to present to investors & senior C-Suite AIA leaders
- AIA will offer a US$30, 000-US$50, 000 grant to develop and deploy an integrated version of the solution with as many of the winning teams as found relevant.
In addition to this, students who apply will be judged separately, and awarded:
- US$3, 000 cash prize (1 x winner)
- US$500 cash prize (4 x runner ups)