“Reinsurance specialists need a practical system that works for them and deals with the reality of workflow and data management”
eReinsure.com, a division of AmWINS Group, one of the largest independent wholesale distributors of specialty insurance products in the United States, announced that the company would be offering a blockchain service linked to its proven reinsurance platform.
“eReinsure is uniquely positioned to partner with Blockchain technology providers to offer this new service to insurers, reinsurers and brokers who use eReinsure’s system,” said Igor Best-Devereux, CEO of eReinsure.
“Distributed Ledger capabilities can potentially create a new paradigm for the way information is shared between the parties to reinsurance contracts, so Blockchain fits nicely with our efforts to streamline the reinsurance market with cost effective services.”
Adding a cautionary note regarding Blockchain, Best-Devereux explained: “As and when clients want to move in this direction, there are still many questions to address, including data privacy, identity resolution, immutability, and the legal and regulatory compliance framework. We expect the early implementations to be a collaboration with clients as they and the industry consider the value proposition and relative merits of Blockchain. However, we want to offer the deep experience of the eReinsure team to further the cost-effective and low-risk implementation of this emerging technology.”