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Best’s Commentary: Blockchain an Enabler for Title Insurance, Not a Replacement

OLDWICK, N.J.--(BUSINESS WIRE)--A blockchain initiative in the title insurance industry is an example of how early adoption of emerging technologies or a proactive insurtech partnership potentially may help insurance companies get ahead of or avert market disruption, according to an AM Best commentary. First American Financial Corporation in late 2018 launched a shared blockchain system to be used in the title insurance process. Blockchain technology is a distributed digital ledger that promises…