How ChainThat and R3’s Corda Are Shaping the Future of Insurtech

In the world of insurance technology (insurtech), innovation isn’t just a buzzword—it’s a necessity for survival. Founded in 2015 by insurance technology veterans, ChainThat is driven by a clear mission: to empower insurers, brokers, MGAs, and other intermediaries to maximize their data and technology. What sets ChainThat apart? Its strategic partnerships and expertise in cutting-edge technology, particularly distributed ledger technology (DLT). 

ChainThat’s journey began with a deep understanding of the industry’s pain points, from cumbersome processes to transparency and compliance issues. Recognizing the potential of DLT, ChainThat developed intuitive SaaS-based insurance technology products to streamline operations and foster innovation. 

At the heart of ChainThat’s offerings is the Beyond Multinational Programs® (BMNP) solution, powered by Corda, R3’s enterprise DLT platform. BMNP isn’t just software; it’s a next-generation platform designed to simplify manual processes, manage data proliferation, and tackle regulatory challenges with unprecedented efficiency. 

Praveen Nagpal, CTO at ChainThat commented:

“ChainThat was one of the earliest adopters of R3’s Corda framework in the insurance market. With the BMNP solution, it brings to fruition the strategic vision of distributed ledger technology as a great enabler in writing insurance contracts across countries. The multinational programs platform provides a comprehensive insurance solution that allows insurance companies to manage cross-border exposures through a master contract and local policies, working with their partners. The cornerstone of ChainThat’s BMNP platform lies in its capability to seamlessly oversee these programs, leveraging an extensive and meticulously managed network on Corda in an increasingly interconnected world.”

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