Big spending but savings never realised

Insurance giant AXA surprisingly cancelled their long running (and expensive) Ethereum smart contract based flight delay and cancellation insurance project. Like Fintech, it appears Insurtech has its share of hype and overselling. About a two-minute read.

Comment: I know people at AXA, who confide to me almost $300M was spent on this project over two years. This suggests although the technology largely worked, realised savings weren’t enough to deploy.