ChainThat provides insurance process automation using Distributed Ledger Technologies DLT. Standard startup advice is to focus at the outset, to target niches rather than broad sectors. Think Facebook and Harvard. In the London market, there are a lot of ‘Facilities’ which are mini consortia, which tilt the power towards brokers. Facilities are ChainThat’s current niche.
ChainThat’s team has a background in Commercial and Specialty, so they have a deep understanding of the processes in their target sector. While they’re mainly working in the London market, they also have clients across Europe and the US.
Surprisingly for a tech-led team, their focus is not on blockchain. CEO David Edwards said: “We try to focus on the business value that the solutions can bring. We are trying to move away from the actual underlying technology. It’s more about the distributed nature of the applications allowing them to make sure what I see, you see, and we don’t have a centralized service provider holding all your data and potentially trying to monetize that data, it’s your data, you own it.”
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