9th March — Weekly Update!

International Women’s Day / Smart Contract & Payment Integration / Regional Expansion

Cristina Dolan, Co-Founder & President US of iXledger

International Women’s Day!

It’s that time of year when we just celebrated international women’s day. Every day we are starting to see more and more women integrating into the workplace and taking lead roles, which is great news! But, it goes so much deeper, in that as the saying goes, behind every successful man, there is a strong woman.

Let’s think Musk! — To be specific, Maye Musk.

Who is she? — She is the mother of invention that raised a family of entrepreneurs, one of them being the famous Elon Musk.

The Economist has produced a special write up on Maye Musk and what lengths she went through to support and raise her family that we know of today: http://discovery.economist.com/iwd/mother-of-invention-165185412?kw=all&csid=ppcw&ref=iwd

The team at iXledger wishes to congratulate women for their continued support in the workforce and everyday life and would like to announce that our doors are always open for more women to come onboard to help contribute to our success going forward.

Development Progress

After last weeks completion of the professional networking features, UAT is in progress — we are working with our insurer and broker network to test and validate our professional networking features and feedback, so far all is encouraging.

In addition, we finished building and testing our backend service for creating and managing insurance contract drafts. After integrating transaction signing with the insurance contract blockchain module, we have then integrated the module into the backend service. This means that now, after creating and managing an insurance contract draft, the broker and insurer can accept this draft and once both have accepted, an insurance contract is automatically created and deployed to the blockchain with access rights for both the broker and insurer.

Making this process work is trickier than one might think, as several steps are required: Creating an Ethereum address with an encrypted private key for every new user, then retrieving and decrypting this pair for the transaction that is sent to the blockchain when creating a new contract, and finally signing and sending that raw transaction to an Ethereum client.

Furthermore, authentication checks have to be performed along the way, both on the server and the blockchain.

Another point re UAT. Our testing sandbox for marketplace/insurance contract functionality is undergoing internal demo and testing — this is a key milestone towards UAT of our blockchain services.

Finally, we have made progress with IXT payment integration into the platform — designing secure and robust mechanisms for depositing IXT into the platform, and paying/charging IXT for insurance transactions. This is clearly a key step towards the utility of our token.

Commercial Traction / Regional Expansion

Dick Stuip, our newly appointed Regional Director Strategic Partnerships Asia, iXledger PTE LTD. in Singapore, is expanding our operations and partnerships in the Asian region.

He is an experienced insurance professional with specialist knowledge of a broad range of insurance products and extensive experience in managing the risk management and insurance needs of national and international companies. Working in various positions for international brokering companies such as Marsh and Howden, with assignments in The Netherlands, USA, Indonesia, and Singapore.

Before joining iXledger he was involved in an Insurtech startup in Singapore where he was responsible for product development, liaison with the insurance markets and technical input with regard to policy analysis.

His time in Asia spans more than 15 years during which time he gained knowledge and understanding of the particulars of the Asian insurance market and has built a large network of business contacts across the region.

We believe that Dick is fundamental to our global growth and we are very fortunate to have him with us on our journey.

Team News

This week, we also have another addition. We welcome onboard Andrew Hodgett, a certified insurance broker as our new Product Director.

Born in the UK, Andrew spent his early years in Indonesia and The Netherlands, where he obtained his Bachelor’s Degree in International Business and Marketing.

After completion of his study, he was involved in several sales projects for consumer products, including the online sales promotion of Mentos Rainbow, before he joined an international Lloyds Insurance Broker, based in London. After learning the basics of insurance as a marine technician, he quickly moved on to become a broker, where he was responsible for the placement in the Lloyds Insurance Market of various classes of business including marine cargo, specie, personal accident, terrorism and political risk/violence, both as direct and reinsurance placements. In this position he serviced the insurance requirements of clients and brokers from across the World and his passion for learning different languages appeared to be a great asset.

His invaluable insight of the insurance market, matched with local and international commercial connections, will help us in delivering the blockchain solution that the market is keenly searching. He will be a vital member in working closely with our partners as well as our design and development team in our London office.

See you all next week!