LONDON and NEW YORK, Aug. 29, 2017 /PRNewswire/ -- 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 billion in 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.
Ross Campbell Chief Underwriter Life/Health Research & Development Gen Re, UK
About iXledger iXledger powers next generation insurance solutions through blockchain with a token enabled economic layer to support efficient data driven business models and marketplaces. To learn more visit: www.iXledger.com
About Gen Re Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. General Reinsurance, London Branch is a branch of General Reinsurance AG. General Reinsurance AG is a subsidiary of Berkshire Hathaway Inc. We work closely with our clients to understand their strategic and operational goals, offering a wide range of products, tools and resources that aim to promote our clients' ongoing growth and success. As a direct reinsurer, we are in the risk assumption business, just like our clients. Our shared perspective helps us understand and evaluate even the toughest risks – and propose the right solutions. Gen Re is a member of the Berkshire Hathaway family of companies, and has earned superior financial strength ratings from each of the major rating agencies. To learn more visit: www.genre.com