AP Moller-Maersk is working with EY and Microsoft on a new marine insurance platform using blockchain technology.

Data security firm Guardtime is also part of a group that aims to launch the first real-world use of blockchain in shipping, Reuters reported.

EY and Guardtime said the platform had already been built and would be operational in January.

Maersk has been part of a 20-week trial and will use the platform for some of its business areas, together with insurers MS Amlin and XL Catlin.