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.
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