iXledger and Gen Re Announce Strategic Collaboration
iXledger (formerly InsureX Technologies), the London-based technology company developing first of its kind, transformative insurance solutions utilizing blockchain, today announced a collaboration with Gen Re, one of the world’s leading reinsurance companies.
Together iXledger and Gen Re will develop solutions for life and health insurance utilizing blockchain and other advanced technologies, in the initial phase. As an early adopter of the iXledger blockchain solution, Gen Re will benefit from their expertise in building financial software and the use of advanced technologies to create next generation marketplaces.
iXledger is currently headquartered in London and quickly expanding into the US, Europe and Asia.
“We are very pleased to have established this strategic collaboration with iXledger to create transformative solutions that better serve the needs of our clients,” said Ross Campbell, Chief Underwriter, Life/Health Research & Development, Gen Re.
Ingemar Svensson, CEO, iXledger commented, “We are in an era where technology can harness the power of data and connectivity to better serve communities. In a regulated industry that is information rich, blockchain can offer transparency and trust.”
The objective is to develop compelling use cases for iXledger technology amongst life and health insurance company clients of Gen Re, and to deliver transformative processes to them. This project will initially focus on the UK, with the potential to expand to other geographies, including Europe, Asia and the US.
iXledger provides innovative insurance solutions, based on blockchain technology, which have the potential to improve efficiency and provide data privacy.
Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. With $13 billionin capital and approx. $5.6 billion in premiums, it is one of the leading reinsurers in the world with a global network of offices in key reinsurance markets.