(Image source: iXledger.)
Gen Re (Stamford, Conn.) has entered into a collaboration with iXledger, a London based provider of blockchain-based solutions. The companies say they will develop solutions for life and health insurance utilizing blockchain and other advanced technologies, in the initial phase of the relationship.
The stated objective of the collaboration is to develop what the companies call compelling use cases for iXledger technology for the life and health insurance company clients of Gen Re, and to deliver transformative processes to them. The companies say the project will initially focus on the U.K., with the potential to expand to other geographies, including Europe, Asia and the U.S.
As an early adopter of the iXledger blockchain solution, Gen Re will benefit from the company’s expertise in building financial software and the use of advanced technologies to create next generation marketplaces, according to an iXledger statement.
“We are very pleased to have established this strategic collaboration with iXledger to create transformative solutions that better serve the needs of our clients,” comments Ross Campbell, Chief Underwriter, Life/Health Research & Development, Gen Re.
Blockchain Offers Transparency and Trust
“We are in an era where technology can harness the power of data and connectivity to better serve communities,” Ingemar Svensson, CEO, iXledger. “In a regulated industry that is information rich, blockchain can offer transparency and trust.”