Mutual of Omaha and RGA Test Blockchain Re Concept

October 16, 2019 by Allison Bell

An insurer and reinsurer recently tested whether a blockchain technology-based system could help with a simulated reinsurance administration job.

RGAX, a subsidiary of Reinsurance Group of America Inc., worked with Mutual of Omaha to have a distributed ledger system process the flow of monthly premium payments associated with a reinsurance treaty.

The distribution of the payments depended on the policy effective date.

Lines of software code inside the distributed ledger system were supposed to automatically make sure that RGA and Mutual of Omaha each received the right percentage of each premium payment.

Click HERE to read the full story via ThinkAdvisor.

Originally Posted at ThinkAdvisor on October 15, 2019 by Allison Bell.