iXLedger is the technology development arm of iX Technology Group and was founded in London in 2017, with the encouragement of clients interested in innovation and new business models.
Technology driven innovation is an increasing focus for the insurance industry which faces challenges on many fronts. A core issue is that the insurance product is often handled by several layers of intermediaries using manual, highly inefficient processes.
Customers require suitable coverage at a fair price, from trusted insurers delivering good service and fast claims settlement. Insurers and intermediaries need access to quality business and to manage their operational and distribution costs across the insurance value chain.
Blockchain technology – a distributed, decentralised ledger that is immutable, secure, fast and transparent – has huge potential to enable the industry to face these challenges.
This peer-to-peer ecosystem facilitates increased trust, efficiency, and transparency – resulting in improved customer service, cost-efficient business models, faster transactions, and reduced risk through data access and collaboration
We work with a strong team of technologists and experienced insurance professionals to create innovative solutions for our clients by developing a range of emerging technology solutions across the insurance life cycle.
Live use cases include:
- Re-engineering professional service networks to enable improved collaboration and information sharing
- Use of blockchain to improve customer claims experience and operational efficiency
- The creation of an alternative insurance marketplace, connecting customers, brokers, and insurance carriers through blockchain and other advanced technologies
Our Technology Stack
In many instances, we leverage blockchain technology to offer participants fast, transparent and secure processes. The shared nature of the decentralised blockchain allows a completely trusted interaction between parties, which removes third-party costs and commissions.
The architecture utilises a cutting edge stack consisting of React, NodeJS, Ethereum and OrientDB.