Appleby sponsors Canadian technology conference in Bermuda

Appleby is sponsoring a Canadian Technology Summit in Bermuda this week, with the keynote event being given today at the Hamilton Princess.

The summit is intended to align technology initiatives between the governments of Bermuda and Canada, and strengthen business ties between the two countries. It showcases leading Canadian blockchain firms that are interested in participating in the growing technology sector in Bermuda.

There is a growing insutech sector in Bermuda, as the island’s insurance companies and independent technology players alike experiment with ways to streamline the insurance business, and improve the user experience. RiCap, for example, is a digital re/insurance platform bringing together brokers, re/insurance buyers, re/insurers and other service providers. It uses blockchain technology to reduce the frictional costs of coordination and reconciliation between insurance market participants.

Another initiative is AkiNova, a blockchain-compatible electronic marketplace to transfer and trade insurance risks.

Visiting Canadian technology companies are spending the week engaging with local businesses that are interested in, or advisors to, such blockchain technology projects. They will consider how the Digital Asset Business Act and Bermuda’s Initial Coin Offering regime can help develop and facilitate these opportunities in Bermuda.

Steven Rees Davies, joint global head of technology and innovation at Appleby, is participating in a panel discussion on regulation and governance of digital assets.