"Providing decentralised services that are re-shaping the future of global (re)insurance markets…"

 
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There is an ever increasing need to do more for less and do it more quickly within the Insurance markets.  M&As and Globalisation are driving the need for erver more efficient operating models

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Insurance processes and solutions have evolved over decades if not centuries to keep pace with changing demands. However, unfortunate side effects are systemic data duplication, inconsistency & data quality issues that continue to drive disproportionately high TCO

~$800 Billion GWP in commercial, specialty and reinsurance globally.  70% of the leading insurance organisations already have plans in place to reduce operational overheads by embracing digital and disruptive technologies.

Our mission is to provide services and solutions that leverage new decentralised technologies to enable a step-change in peer-to-peer processing; to realise the benefits of centralised processing but with game-changing improvements to costs, speed and data quality.

PoCs & Pilots

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PoC enables the customer to prove the insurance business concept and value with rapid prototyping and delivery of targeted business solutions in a controlled and risk free environment.  The next stage is to carry out a Pilot which enhances the PoC to handle real business business data between parties, ensure compliance and provide integration as required

 

Partnerships

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We understand the value of the consortium operating models & relationships that run across our customers. To maximise the value of our decentralise solutions we work in partnership to establish practically operable models that support all consortium members, including governance & compliance regimes. We are able to provide appropriate technical services and ongoing support to suit the individual needs of each consortium member

 

Solutions

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Using our Insurance Blockchain Framework we have created solutions focused on (re)insurance covering Placing, Contract Management and Facility Schemes.  Our framework has been designed to be expanded to cover all areas of the insurance value chain including Accounting & Settlement, Claims, Billing & Collections and Credit Control. It is underpinned by an integrated business intelligence and reporting foundation to provide real-time management & operational information

 

"...using technology solutions that complements and innovates the (Re)Insurance business model"

 

Peer 2 Peer Consortiums

 

  • Mutually beneficial trust

  • Wider market choice and opportunities

  • Reduced intermediation between consortium members (direct collaboration)

Blockchain & Smart Contracts

  • Data consistency

  • Immutable audit history

  • Secure data storage and protection

  • Improves data discoverability

Enhanced Business Processes

  • Improve process speed and quality

  • Process transparency and common understanding 

  • End-End digital processes support

Customers & Projects

Technical Accounting Proof of Concept with SCOR SE

 
In September 2016 SCOR started to test Blockchain technology. SCOR is very pleased with the results of these tests, which demonstrate that Blockchain technology (i) is agile and quick to implement, (ii) simplifies and accelerates interaction, with real-time status simultaneously shared by the business partners involved, and (iii) has the potential to efficiently reduce costs.
— SCOR SE press release