Gen Re, a Berkshire Hathaway company, has entered a strategic partnership with London-based insurtech firm iXledger (formerly InsureXTechnologies) to develop solutions for life and health insurance utilising blockchain technology. According to the company, the project will initially focus on the UK, with the potential to expand to other geographies, including Europe, Asia and the US. "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 and development, GenRe. Ingemar Svensson, CEO of 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." iXledger is a blockchain-based insurance marketplace, currently headquartered in London and looking to expand into the US, Europe and Asia. Join us in London on October 3rd for Intelligent InsurTECH Europe 2017 Today’s stories Hurricane Harvey loss estimates vary but could reach $20bn Insurers will bear brunt of Harvey losses; downgrades possible Auto and business interruption could dominate Harvey losses NFIP could need emergency funds to cope with flood losses Western World appoints Endurance exec as vice president Loss-hit insurers shares plummet but brokers should benefit Harvey may stabilize pricing but no hard market predicted Cat bonds have likely escaped Harvey's wrath White Mountains expands board of directors Don't miss our insurtech email newsletter - sign up today Gen Re, iXledger, Insurtech, Technology, Berkshire Hathaway company, Blockchain, Life, Health, North America
Berkshire Hathaway firm Gen Re is partnering with insurtech company iXledger to boost life and health insurance solutions via blockchain technology. The focus will at first be on the UK, potentially expanding to Europe, the US and Asia later on.