# Processing Marine Insurance in Real Time

> Insurwave (a 2018 joint venture between EY and Guardtime) is the world's first blockchain platform for marine insurance. Built on Microsoft Azure and the Corda blockchain, it connects shipowners, brokers, insurers and reinsurers in a shared digital ledger. In the pilot with Maersk, more than 1,000 container ships were insured and over 500,000 automated ledger transactions processed per year. Real-time vessel data (position, cargo, weather) enables dynamic premium adjustment instead of static annual contracts.

**Sector:** Tertiary sector · **Industry:** Shipping and maritime transport · **Organisation:** Insurwave (EY + Guardtime), A.P. Møller-Maersk, Willis Towers Watson, XL Catlin, MS Amlin · **Maturity level:** Production

Canonical URL: https://www.sapientblock.com/en/use-cases/insurwave-seeversicherung-echtzeit-abwickeln

## Documentation status

- **Project status:** Production
- **Evidence:** Evidence high
- **Editorial review:** Ufuk Avci, 26 April 2026

## Description

Insurwave (a joint venture between EY and Guardtime, since 2018) is the world’s first production blockchain platform for marine insurance. Based on R3 Corda and Microsoft Azure, it connects shipowners (Maersk, 350 container ships), brokers (Willis Towers Watson), insurers (XL Catlin, MS Amlin) and the industry standard ACORD in a shared digital ledger. In its first year, over 1,000 ships were insured and more than 500,000 automated transactions processed. The platform replaces paper-based processes: policies, premiums, claims and payments run automatically via smart contracts. Thanks to real-time ship data — position, cargo, weather conditions, engine parameters — insurers can dynamically assess risks instead of waiting for annual declarations.

Lars Henneberg, Head of Risk and Insurance at Maersk, describes the transformation: Maersk knows in real time the location, cargo and condition of every ship. The question was whether insurance could be based on the actual behaviour of ships rather than paper declarations. Insurwave answers this question with yes. The platform manages up to 27 data points per ship (instead of 7 in the old system), enabling much more precise underwriting decisions. In 2019, Insurwave expanded to China (Zhuhai port). EY and Guardtime plan to extend to cargo insurance, aviation and energy.

## Benefits

- Companies can protect their brand reputation and strengthen customer trust through verifiable proof of authenticity.
- Customers gain confidence when purchasing expensive luxury goods through certificates of authenticity that can be checked at any time.
- The platform reduces counterfeiting and fraud in the luxury goods industry through immutable digital identities for each product.
- Consumers and companies receive full transparency about the origin and supply route of luxury goods.
- The system strengthens trust among all participants in the supply chain and enables new business models in the second-hand market.
- Employees receive digital tools for better customer advice and can quickly access verified product data in case of problems.

## Challenges

- Companies need to train their employees in the new technology and may need to adapt existing business processes.
- Integrating blockchain technology with existing systems and processes in the supply chain requires technical expertise and investments in new infrastructure.
- All participants in the supply chain must be encouraged to join the system to ensure seamless traceability.
- Employees must learn new digital skills and become familiar with blockchain-based systems.

## Technology foundation

Everledger uses its own private blockchain platform, specially developed for tracking luxury goods and complemented by state-of-the-art technologies such as NFC chips, IoT sensors and artificial intelligence. This combination enables the creation of a digital twin for each luxury item, which immutably stores all relevant information about origin, authenticity and supply route and makes it transparent for all participants in the supply chain.

## Sources

- [Blockchain Luxury Goods: Helping to Improve Trust and Sustainability](https://everledger.io/blockchain-luxury-goods-helping-to-improve-trust-and-sustainability/)
- [Blockchain Asset Tracking](https://everledger.io/blockchain-asset-tracking/)
- [Industry Solutions: Luxury Goods](https://everledger.io/industry-solutions/luxury-goods/)
- [Blockchain Edelsteine](https://www.steine-und-minerale.de/magazin/wirtschaft/blockchain-edelsteine-669.html)
- [Insurance Business: Marine insurance platform launches (Insurwave, Pilotkunde Maersk)](https://www.insurancebusinessmag.com/uk/news/breaking-news/marine-insurance-platform-launches-101618.aspx)
- [SAFETY4SEA: Marine insurance blockchain tech sees another participant (Insurwave Ltd. als Joint Venture)](https://safety4sea.com/marine-insurance-blockchain-tech-sees-another-participant/)