The Institutes has changed the name of its global blockchain consortium, which represents more than 50 risk management and insurance companies, from the RiskBlock Alliance to The Institutes RiskStream Collaborative.

In a statement, The Institutes explained that the name change reflected its commitment to streamlining, simplifying, and bringing efficiencies to all areas of risk management and insurance through both blockchain/distributed ledger technology (“DLT”) and other insurtech solutions.

“Our new name – RiskStream Collaborative – allows us to emphasize our consortium's objective around creating solutions to remove barriers and make the risk management and insurance industries run more smoothly,” said Christopher McDaniel, president of the RiskStream Collaborative. “Ultimately, the work we're doing with our member organizations will not only add efficiencies for both risk management organizations and the risk management practices of companies everywhere, but it will also improve the lives of their customers.”