Selling lawyers on the value of a new technology, blockchain, can be a challenge anywhere, especially at an insurance company whose very business is measuring risk.
“Lawyers by their very nature need to raise concern about just about everything,” Jeff Marple, the director of innovation for corporate legal at the Liberty Mutual told Bloomberg Law at the ACC Legal Operations conference in Chicago. “At a 100-year-old insurance company, in the legal department, it tends to be risk averse place. But my job is to help folks understand what the opportunities are as well and how we can best protect our clients and ourselves if there are risks.”
Marple said people inside the company are “excited” about the possible applications of distributed ledgers.
“It’s definitely a hyped-up technology right now,” Marple said. “Internally, folks are very curious about it. What does it mean? What does it mean to me? What does it mean to the company? We’re trying to help folks understand all those questions.”