WNS reveals Blockchain-powered VeriChain solution for Insurance Syndication

WNS reveals blockchain solution for insurance syndication

WNS has now launched a Blockchain-powered Risk Syndication solution WNS VeriChain.

The blockchain solution will help to address the challenges in the insurance market.  It will enable specialty insurers to execute transactions in a multi-party ecosystem in a secure manner.

Mumbai based WNS is the provider of business process management solutions.

Executive Opinion

Group CEO, WNS, Keshav R. Murugesh, said, "At WNS, we are focused on leveraging emerging technologies like Blockchain to offer state-of-the-art digital solutions that address critical business challenges faced by our clients. WNS will continue to make strategic investments in new-age technologies with a goal of “co-creating” solutions designed to help our clients transform their businesses and create competitive advantage in their respective markets."

Blockchain-powered WNS VeriChain

WNS has more than 30 insurance and reinsurance clients. The company provides solutions to the entire insurance value chain, notes the announcement.

WNS revealed that the solution would provide a single view of truth for all stakeholders in the syndicate – carriers, brokers, and customers,. Thus driving increased transparency and cooperation. WNS VeriChain leverages IBM Hyperledger as an underlying blockchain eco-system.

Backed by the deep expertise in the insurance and reinsurance domain, WNS developed VeritChain will also help to overcome disputes and eliminates the need for post facto reconciliations, notes the announcement.

PC: Pablo, Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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