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SE2 and Digital Asset Partner to Innovate Across the Insurance and Annuity Product Lifecycle
By Digital Asset. Dec 8, 2021 7:30:00 AM
Strategic alliance leverages distributed ledger and smart contracts to create better data access, standardization, and low-cost product liquidity
December 8, 2021
SE2, a leading life and annuities insurance technology and services firm, and Digital Asset, a software and services provider, today announced their strategic collaboration to create products supporting the sales and servicing of life and annuity products, leveraging distributed ledger technology. The two companies are building applications that tackle workflow and data inefficiencies, creating better outcomes for carriers, distributors, re-insurers, and consumers.
Initial implementations include a single source of truth ‘system of record’, a standardized data framework and an effective risk transfer mechanism. One clear use case will address inefficiencies in the conversion process that will dramatically reduce costs and cycle times. This is the first of many use cases that will be supported through the platform.
Continuously changing market dynamics, the need to rapidly develop and iterate products and the lingering low interest rate environment are driving SE2 and Digital Asset to develop this industry changing technology.
The announcement coincides with this week’s Digital Insurance DigIn Conference where Digital Asset and SE2 are co-hosting a fireside chat on “Innovation in Insurance.”
Click here to read the full press release