Our decentralised solutions streamline and coordinate all the business you conduct with your insurance network on a policy. From Placing, to Accounting, Settlement and Claims Agreement, to Facilities Schemes and Contract Management, they easily integrate with existing systems, ensuring you get the most out of the technology you’ve already invested in.
This application allows brokers and re/insurers to negotiate, create and manage placement terms when a new risk contract is being placed in a market. The data from the each blockchain node is easily integrated with the existing policy admin systems via interfaces that support ACORD data standards.
- Reduces processing time and cost
- Near real-time availability of data
- Digital signatures and legal certainty
Accounting, Settlement and Claims Agreement
Utilising the Corda DLT platform the application allows for the management of (re)insurance Technical & Financial Accounting, Net or Direct Settlement and Claims Agreement.
- Backward compatible with ACORD data standards and processes
- Supports EBOT and ECOT
- Links accounting to payments
- Streamlines processes and removes the need for reconciliation
This blockchain powered application allows brokers to create and manage scheme policies via pre-defined facilities (e.g. Excess of Loss) that are setup with the re/insurers.
- Improved data discoverability
- Standardise communication framework
- Data consistency
- Avoids data duplication
- SmartContract led quote engine
- Digital contracts
- Complete audit and enhanced transparency
CTContract allows multi-parties to create, negotiate and manage a digital contract. Users can view the difference with previous versions of the contract terms and ensures all participants in the contract have signed the same version of the contract.
- Contract integrity
- Immutable history with time-stamping
- Digital signatures removes the need for manual overheads
- Version history ability to compare and view updates on the contract terms
- Delivers efficiencies across the contract process
- Data quality and consistency enforced