CASE STUDY
USING AWS, WE HAVE BEEN ABLE TO
CREATE A SOLUTION THAT ADDRESSES
NOT ONLY THE GREATER SPEEDS AT WHICH
RISKS ARE TRANSACTED BUT ALSO DRIVES
TRANSPARENCY AND SECURITY IN AN
INCREASINGLY INTERCONNECTED MARKET.
recorded and maintained in a permanent
and secure nature over the lifetime of these
contracts, which can span over 50 years.” network up and running, all while taking
advantage of the security and scalability
the service offers.”
Rahul Pathak, General Manager, Amazon
Managed Blockchain at AWS, said: “It’s
exciting to see how customers like Legal &
General Reinsurance are using Amazon
Managed Blockchain to create innovative
products that allow multiple parties to work
together in a trusted way, enabling them to
simplify and speed up their systems
and processes. Intelligent CIO Europe caught up with
Maarten Ectors, Chief Innovation
Officer at Legal & General, who talks us
through the solution implementation
and how it has improved operations for
the insurance company.
“With Amazon Managed Blockchain,
Legal & General Reinsurance can focus on
building new business applications that
enrich the experience for its customers and
transform its business instead of dealing
with the challenges of keeping a Blockchain Legal & General is an FTSE30 insurer and
investment manager. It is a leading provider
of life insurance, pensions and is the largest
institutional investor in the UK, with one
trillion pounds under management. As Chief
Innovation Officer of L&G, I run the Future
60
INTELLIGENTCIO
Can you give us an overview of the
company and its core objectives?
Ventures team, a roving team that serves
L&G businesses that have run out of ways
to solve a problem – they’ve tried all the
obvious and not so obvious solutions and
now they’re stuck. They have, what I like
to call, a ‘Harry Potter problem’. This is an
unsolved critical business problem for which
you need an innovator’s wand.
Our goal as a team is to solve these kinds
of problems. Our core objective is to turn
revenue-draining technology and processes
into revenue-generating technology
solutions. For example, our Blockchain
project, ‘estua-re’, for which we partnered
with the technology consultancy company,
DataArt, to build. DataArt came up with an
idea that enabled a process to be completed
in a matter of minutes which previously took
an entire month.
www.intelligentcio.com