LEGAL & GENERAL FUTURE VENTURES
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Blockchain platform Estua ( re ), the first pension risk transfer execution platform driven by blockchain technology . Developed through the use of Amazon Web Services and recognised as a single ecosystem , Estua ( re ) is capable of driving each stage of the pension risk transfer reinsurance value chain , including pricing , claims handling , financial reporting and collateral using data that is stored on the blockchain . It will , says Matt Bannock , who is leading the blockchain delivery , “ greatly reduce the workload of operating contracts and the use of smart contracts , will mitigate the need for reconciliation between insurer and re-insurer , and make it easier for L & G and its customers to interact securely . The system is built on the Hyperledger fabric , which is being supplied by Data Art .”
Similarly , the team is in the process of rolling out a new mobile app , first to L & G employees but with the intention of distributing to its customers . The Harry Potter problem in this instance ? “ Our workplace pension team needed to enhance their mobile proposition to remain competitive in their tendering process ,” says Ectors .
DECEMBER 2019