Xceedance Invests in Blockchain Startup ChainThat

Global provider of insurance consulting, managed services, technology and data sciences, Xceedance, has announced a Series A investment in London-based blockchain startup ChainThat . “This is a strategic alliance of two progressive companies that believe specialized services and new technologies can transform the re/insurance industry” – Xceedance CEO Arun Balakrishnan. In addition to the investment by Xceedance, ChainThat will have access to Xceedance global resources, including insurance-expert business and technology consultants, industry-knowledgeable IT professionals, business development and support services.

Using a proprietary insurance blockchain framework (CT-IBF), ChainThat supports reinsurance contract management and transactional processes in key areas of the insurance lifecycle including claims, accounting and settlement, billing and collections, and credit control. The ChainThat framework includes integrated business intelligence and reporting for real-time management and operational information.

Same ChainThat that helped French reinsurance giant SCOR test a blockchain based proof-of-concept for accounts exchanged between brokers and reinsurers earlier this year.

Makes one wonder whether SCOR passed on ChainThat.

PS. This, too, is Xceedance: