Insureblocks Blockchain & Smart Contracts In Insurance

On the 12th of June 2019, Legal & General launched its Pension Risk Transfer blockchain reinsurance platform called “Estua-re”. Thomas Olunloyo, CEO at the Legal & General Reinsurance Company, based out of Bermuda, joined us in this podcast to share “Estua-re’s background and why blockchain was the best solution to answer his pension reinsurance challenge. His company is the global reinsurance hub of the Legal & General Group. It writes pension  risk transfer for reinsurance in multiple countries around the world. But focus primarily on the UK, the Netherlands, Ireland and Canada.   What is blockchain? Thomas thinks of blockchain in terms of the context in which they’re applying it with estua-re. Blockchain is a network with a number of participants that are here to sell risk and some who are here to take on risk. It allows these participants to have a single version of the truth built on consensus that exists at all times. For a business, like the Legal & General Reinsurance Company, that trades with contr