Accenture, Generali Launch Blockchain Solution for Employee Benefits
Marie Huillet's original article for cointelegraph.com reduced by 49%
Ireland-based global consulting firm Accenture and Italy-based insurance giant Generali Group's employee benefits unit have debuted a blockchain solution for employee benefits. Generali Employee Benefits is an employee benefit solutions provider and global business line of Italy's largest insurance firm - and 8th largest globally. The press release states that GEB operates the largest employee benefits solutions network worldwide.
The blockchain tool is designed to innovate and simplify GEB's existing employee benefits operating model for captive services, which spans policies such as life, disability, accident and healthcare insurance. The solution is reportedly supported by Generali and inspired by the work of the insurance industry collaborative blockchain initiative B3i. The prototype was found to provide significant benefits for the employee benefits sector by establishing effective integration of systems, data and processes for all stakeholders, improving data quality and saving time and costs.
GEB's CEO stated in the press release that in its provision of a seamless ecosystem, "Blockchain will change not only our Network but the employee benefits industry as we know it..
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