Spot On Insurance Welcomes William Herkelrath
Ted Taveras
I have spent the last 20 years helping insurance professionals navigate the complexities of regulatory compliance
When it first developed, many advocates heralded blockchain as the means to facilitate secure, real-time sharing of data within many industries.?Yet beyond the cryptocurrency market, few companies seem to have realized the technology’s early promise.?William Herkelrath joins us for a deep dive into how blockchain can help the insurance industry.
William is the Managing Director of Business Development for Chainlink Labs, the leading provider of secure and reliable open source blockchain oracle solutions.?Since 2017, William has focused exclusively on helping blockchain firms recognize and capitalize on mainstream uses for this emerging technology.?With more than 20 years in both product development and sales roles within the fintech industry, he helped lead three separate start-ups that were eventually acquired by Fortune 500 firms.?Prior to joining Chainlink Labs, for example, he was the Chief Revenue Officer for Curv, which PayPal acquired in early 2021.
Chainlink’s goal is to create a “centralized repository of truth,” freeing participants in the insurance ecosystem from over-reliance on single sources of data.?Their network of nodes, each run by validators, offers a consensus determination of whether specified conditions are met.?The information generated not only provides a more detailed foundation of accurate risk assessment, but also real-time monitoring of actual risk conditions to determine whether a payout is justified.?All this reduces the operating costs for insurance providers, allowing them to provide coverages that would have been unprofitable under conventional service delivery structures.?This, in turn, allows many more people – especially those in developing economies – to benefit from the protections and incentives that insurance offers.
To connect with William Herkelrath directly:
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→ LinkedIn: William Herkelrath, Chainlink Labs
→ Website: chainlinklabs.com
For more great insights from William listen to his Spot On Insurance podcast, How Blockchain Is Transforming Insurance, which debuts on Tuesday, July 26.