Blem Reinsurance System Solutions Implements Z/Yen’s Distributed Ledger

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London, England’s Z/Yen Group has recently announced that Blem Information Management Ltd’s XLRAS reinsurance administration system now uses Z/Yen’s MetroGnomo timestamping and document retrieval system to increase trust in reinsurance records.

“The ChainZy offering is elegant and simpler to implement than many of the other technologies we are working with in this space. I am sure our clients will find this seamless adoption of distributed ledger capabilComments 0ity to be comforting and useful early steps into the blockchain era,” said Gavin Blem, Managing Director of Blem Information Management. 

With MetroGnomo XLRAS timestamps and hashes information supporting reinsurers’ debt calculation onto a transparent authoritative immutable ledger. This generates proof that given pieces of information existed at a given time.

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Professor Michael Mainelli, Executive Chairman of Z/Yen, added:

“2016 has been the year we’ve moved from proof-of-concept projects for mutual distributed ledgers to working systems. XLRAS is the second insurance offering to use Z/Yen’s ChainZy technology. We look forward to several more announcements of applications for blockchain technology in wholesale insurance.” 

This XLRAS development enhances contract and transactional certainty across XLRAS’s scope of reinsurance recovery administration. XLRAS clients will henceforth be able to provide permanent blockchain evidence for any XLRAS data or output they choose.

One of several use cases is the automatic time stamping of each reinsurance collection produced by XLRAS, evidencing them in an encrypted form in perpetuity. Blem’s R&D with blockchain is ongoing with other solutions in the pipeline.

MetroGnomo uses Z/Yen’s ChainZy woven broadcast technology to cast the ledger in multiple locations. The States of Alderney believes its support for MetroGnomo lends assurance to this initiative, while enabling an evaluation of the potential in the technology and possible future common standards of service. Alderney is overseeing MetroGnomo’s integrity until 2021.

Z/Yen is the City of London’s leading commercial think-tank. Z/Yen was founded in 1994 to promote societal advance through better finance and technology. Z/Yen has built its practice around a core of high-powered project managers, supported by experienced technical specialists so that clients get expertise they need, rather than just resources available. The firm is headquartered in London, but Z/Yen is committed to the ‘virtual office’ concept and is an intense user of technology in order to improve flexibility and benefit staff. Z/Yen has 25 full-time-equivalent staff and over 300 associate experts. Z/Yen people share significantly in the benefits of success and Z/Yen seeks to develop a supportive environment in which professionals from a variety of disciplines can flourish.

 

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST
2015), a partner at ICO services collective Token.Agency
($750m+ and 90+ ICOs and STOs), director of education company
Blockchain Partners
(Oracle Partner) and ICO event organiser
at leading industry event CryptoFinancing (Europe's first ICO event now
branded Tokenomicon)
– Vancouver native Richard Kastelein is an award-winning publisher,
innovation executive and entrepreneur. He sits on the advisory boards
of some two dozen Blockchain startups and has written over 1500
articles on Blockchain technology and startups at Blockchain News and
has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.  Irish Tech News put him in the top
10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of
Blockchain
at China's first Blockchain University in Nanchang
at the Jiangxi Ahead Institute of Software and Technology. In 2018 he
was invited to and attended University of Oxford's Saïd Business School
for Business Automation 4.0 programme. Chevalier (Knight) - Ordre des
Arts et des Technologies at Crypto Chain University and an Advisory
Board Member of International Decentralized Association Of
Cryptocurrency And Blockchain (IDABC) as well as Advisory Board Member
at U.S. Blockchain Association. Over a half a decade experience judging
and rewarding some 1000+ innovation projects as an EU expert for the
European Commission's SME Instrument programme as a startup assessor
and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain
technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels,
Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki,
London (5x), Manchester, Minsk, Nairobi, Nanchang, San Mateo, San
Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel
Aviv,  Utrecht, Venice,  Visakhapatnam, Zwolle and
Zurich.  His network is global and extensive.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has
ranged from the Canadian Native Press (Arctic) to the Caribbean
& Europe. He's written occasionally for Harvard Business
Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work
and ideas have been translated into Dutch, Greek, Polish, German and
French. A journalist by trade, an entrepreneur and adventurer at heart,
Kastelein's professional career has ranged from political publishing to
TV technology, boatbuilding to judging startups, skippering yachts to
marketing and more as he's travelled for nearly 30 years as a Canadian
expatriate living around the world. In his 20s, he sailed around the
world on small yachts and wrote a series of travel articles called,
"The Hitchhiker's Guide to the Seas' travelling by hitching rides on
yachts (1989) in major travel and yachting publications. He currently
lives in Groningen, Netherlands where he's raising three teenage
daughters with his wife and sailing partner, Wieke Beenen.

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