ChainThat announces the appointment of Kathleen Faries as Bermuda Advisor
Bermuda 15th May 2019: ChainThat, a specialist provider of blockchain solutions serving the insurance and reinsurance industry and, who in March 2019 launched the Bermuda Digital (re)Insurance Market initiative, a fully decentralised digital platform to support the Bermuda (re)insurance Marketplace, has announced the appointment of Kathleen Faries as their Bermuda Advisor.
Kathleen will be working closely with the ChainThat team as their Bermuda Representative and Advisor to support and further drive the adoption of the Bermuda Platform and wider Bermuda Vision.
Kathleen, former Head of Tokio Millennium Re AG (TMR), Bermuda, has over 30 years of experience in the insurance and reinsurance market including property and casualty broking into the U.S., London and Bermuda markets as well as developing and managing captive insurance companies. Kathleen served as Chief Executive Officer of Tokio Solution Management Ltd. (TSM), where she spearheaded the expansion of TMR’s capital markets strategy with the start-up of TSM and Shima Re in 2012 and was instrumental in building TMR’s reputation as a leader and innovator in the ILS arena.
Since its formation in 2015, ChainThat has become a leading provider of InsurTech solutions that enable insurance business leaders to bring about the changes they want to see. In Utilising Distributed Ledger Technology and smart contracts, ChainThat solutions are able to deliver transformational business efficiency and cut frictional costs, boosting combined operating ratios. In March 2019, ChainThat provided a live demonstration of their digital decentralised (re)insurance platform in Bermuda to an audience of over 60 industry practitioners. At the launch it was announced there would be a production trial for interested participants to use and test the platform commencing in July 2019.
“I am delighted that Kathleen has joined the ChainThat team as our Bermuda Advisor”, said David Edwards, Chief Executive Officer of ChainThat. “Since the Bermuda launch in March, we have seen a significant uptake and interest to participate in the trial by the (re)insurance and wider community, Kathleen brings extensive market experience and is highly respected by her peers and will make a significant contribution to help drive the trial forward and promote wider adoption”.
Kathleen Faries added: “I am keenly interested in seeing the Bermuda market lead the way on a digital marketplace especially given how uniquely positioned we are to execute on this initiative.I am excited to be a part of exploring how we can apply the technology and expertise that ChainThat offers to future-proof and grow the Bermuda (re)insurance market.”