Abacus Life Settlements, an American buyer of life insurance policies, has joined hands with BlockCerts in order to offer blockchain-enabled longevity-related assets and insurance.
Jay Jackson is the CEO of Abacus. pointed out:
“Abacus Life and Longevity Market Assets are excited to partner with BlockCerts Web 4.0 to lead the next generation of life insurance and annuity purchases using blockchain. We are changing the way people buy annuities and life insurance. Acquisition and investment in longevity-related assets.”
Abacus life, which uses blockchain technology, will gain next-generation data safety, cost reductions and a competitive edge in the market. This will help it to grow, according to a press release.
BlockCerts, a Web 4.0 renaissance, provides a secure platform that allows for the development of new applications to manage your life and scale businesses.
BlockCerts’ founder Tim Vasko was open to the idea and said:
“BlockCerts is enthused to collaborate with the Abacus Life team to bring the full power of Web 4.0 to life within the insurance industry, to redefine what is possible.”
In the coming future, Abacus Life plans to transact policies entirely on the blockchain using SignCERTin – a Blockcerts’ authenticated cloud and a secure virtual space platform.
“This is a great example of how our authentication blockchain and our full suite of decentralized applications are able to streamline past processes and provide new solutions to yield many new benefits for a growing company like Abacus Life and Longevity Market Assets.”
Blockchain technology continues its transformation of the insurance sector. Lemonade is an American top-rated insurance company. Partner Working with different companies to offer blockchain-enabled insurance for climate change to support vulnerable farmers worldwide.
Image source: Shutterstock