9 January 2018Insurance

IT specialist Mphasis launches blockchain offering for insurers

Mphasis, an IT solutions provider specializing in cloud and cognitive services, has launched a series of  blockchain-enabled solutions for insurance and financial services markets.

Wealthchain and Chainsure can be used, the company said, to enhance security, efficiency and governance through which these firms and their partners jointly create and deliver value and experiences to their customers.

Mphasis has partnered with Loyakk, a provider of blockchain-based business relationship platform, to build and deliver the solutions.

The insurance solution, Chainsure, has been designed to help insurers combine blockchain technology with enterprise capabilities to impact multiple areas of an insurance business. It includes client onboarding, underwriting, policy administration, claims administration, claims fraud management, product innovation, regulatory audit and more.

"Financial services and insurance industries deal with enormous quantities of sensitive data. Adopting blockchain solutions that will address privacy concerns, improve security measures and deliver valuable experiences to customers is vital," said Dinesh Venugopal, president, Mphasis Direct and Digital.

"Blockchain is a critical technology that all enterprises should strategically leverage; Mphasis continues to bring innovative solutions to customers from both within the organization as well as from the partner and start-up ecosystem."

Join us at Intelligent Automation in Insurance - London 2018.  Book by Jan 31st and you could save £400.

More of today's news

US tax cuts hit insurers in Q4 but offer long-term gains

AXIS receives Lloyd's approval to manage Novae and SPS syndicates

RGA's innovation unit acquires LOGiQ3 Group

Fidelis promotes to appoint CUO of Fidelis Underwriting

XL Catlin boosts EMEA M&A unit with two hires

Ethos hires head of property from Liberty International

Willis Re attempts to add ‘silent cyber’ to risk model

Coverys Managing Agency poaches Argo Global CRO

CNA hires Chubb exec to lead financial institutions practice

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

Alternative Risk Transfer
8 January 2018   The Insurance Linked Strategies (ILS) team at Lombard Odier Investment Managers has completed its first bond transaction using blockchain, the immutable ledger for recording transactions.
8 January 2018   eReinsure.com, now part of AmWINS Group, will now offer blockchain service linked to its proven reinsurance platform.