Blockchain: What Is It, And How Does It Impact You And The Surety Industry
Recorded On: 10/30/2019
What is blockchain? We hear the term more and more, but there are many myths and misconceptions about what blockchain means. During this thought-provoking session on blockchain technology, Patrick Schmid of The Institutes RiskStream Collaborative will begin with a short overview of the basic elements of blockchain technology and its usage in broader financial services. Then the majority of the session will be spent in a discussion with industry experts Jenni Waggoner of M.J. Schuetz Insurance Services and Greg Davenport of Liberty Mutual on use cases for blockchain in the surety bond industry. Through the course of this session we will break down blockchain in order to easily understand what it is and how it can affect you, your work, and the surety industry as a whole.
Patrick G. Schmid, PhD
Patrick G. Schmid is an economist with a passion for blockchain. He oversees The Institutes RiskStream Collaborative™ products, operations and technology departments. Dr. Schmid also coordinates the The Institutes RiskStream Collaborative of insurers, brokers and reinsurers and provides thought leadership for The Institutes. He has worked in the risk management and insurance industry for over a decade, researching trends on important market issues.
Jenni Waggoner, AFSB
Vice President and Bond Manager
Jenni Waggoner is Vice President and Bond Manager and principle for M.J. Schuetz in Indianapolis, Indiana. Jenni began working with M.J. Schuetz in 2001, and she has 23 years of insurance industry experience. She is a 3-time Gold Award of Excellence recipient from the Surety Information Office for Surety Bond Promotion, and she holds her Associate in Fidelity & Surety Bonding Designation from the AICPCU, in addition to being a Notary Public.
Jenni is the current Vice-Chair of the Automation & Technology Committee for the National Association of Surety Bond Producers (NASBP). She is also the leader of the surety forms working group, comprised of surety professionals throughout the nation working to advance technology for the industry. Jenni served for five years as an officer of the Surety Association of Indiana. She is also the Treasurer and a volunteer for the Indiana Dream Team, a not-for-profit association.
Senior Vice President, Surety Global Risks
Greg Davenport is a Senior Vice President in Liberty Mutual Surety’s Global Risk department. Over his 38-year surety career, Greg has had responsibilities ranging from underwriting to finance to operations and strategy. Greg is presently responsible for surety systems supporting Liberty Mutual Surety’s global operations.
Greg is past Chair of the Surety and Fidelity Association of America's e-Business Advisory Committee and has been an active participant with NASBP’s technology committee. He chaired ACORD's surety standards subcommittee and is a past member of ACORD's global Standards Committee. Greg is presently chair of the International Credit Insurance and Surety Association’s Blockchain working group for Surety.
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