1.0 Introduction

Globally Insurance and Reinsurance markets play a crucial role in transferring risk. They provide safety and security through financial support against particular events where there is a fear of loss. Orchestration of business in Insurance markets is complex, highly collaborative  and competitive in nature. High administrative costs, treat threat of disruption from tech giants and the need to upgrade an aging operating model, has urged the industry to think strategically about collaborative technologies and standards.

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