TigerRisk Joins R3’s Blockchain Center

Announcements, Blockchain, FinTech, Group, Innovation | July 11, 2017 By:

Risk management and capital solutions company TigerRisk has joined R3’s Center of Excellence for Distributed Ledger Technology (DLT), becoming the first broker/advisor to join the center.

Last April, R3 partnered with Association for Cooperative Operations Research and Development (ACORD) to create the Center of Excellence. The center aims to facilitate the creation of DLT applications that improve the efficiency of such processes as claims handling and data management. The center also provides a dedicated environment for both R3’s members and ACORD’s members to research, experiment, and design DLT applications.

TigerRisk will gain access to the R3 Wiki, a vast online knowledge library that contains a collection of research and resources created and compiled by R3 and its members. A dedicated portal has been built on the Wiki specifically for insurance projects, enabling members to engage in discussion on DLT and insurance-related topics.

“We are pleased to welcome TigerRisk to our growing network of insurance members,” said R3 CEO David Rutter. “The discussions and collaborative work taking place in the Center of Excellence inform the continued development of our Corda distributed ledger platform, enabling us to build functionality and features that address the specific challenges facing companies in the insurance and reinsurance industries.”

“We are excited to be part of R3’s Center of Excellence. We believe that DLT/blockchain technology will bring significant efficiencies to our industry,” said TigerRisk Global Head of Analytics and Technology Jayant Khadilar. “This technology has already introduced frictionless processing to the banking industry and we are confident that we will be able to bring similar benefits to the insurance and reinsurance industries.”