Accenture Releases New Blockchain Platform For Workforces with Generali Employee Benefits (GEB)
The globally recognized firm Accenture has decided to sign a partnership with Generali Employee Benefits (GEB) in order to create a blockchain solution for employee benefits. Through the use of distributed ledger technology (DLT), participants can access the same data, reduce processing errors and more.
According to a recent report released by Forbes, Daniele Presutti, in charge of Accenture’s Insurance Practice in Europe, mentioned that it is currently possible to see data but blockchain allows the firm to see the data. Users can see the data that is relevant to them.
At the same time, GEB is an employee benefits solution provider that has a presence in 100 countries and works with 1,500 companies around the world. The prototype created by GEB was unveiled in 2018 and used by the agriculture company Syngenta. The prototype was implemented in Spain, Serbia and Switzerland and the results are very promising. The service allows firms to reduce costs and times.
Sergio Di Caro, GEB’s CEO, explained to Forbes:
“This prototype represents a step forward for GEB and for the insurance industry. The use of blockchain technology allows for a truly connected ecosystem and a seamless partnership between clients, advisers, local insurers and Generali. Blockchain will change not only our Network but the employee benefits industry as we know it.”
As GEB informed, there are several benefits that include greater transparency, reduces human errors, increases efficiency and speed, and more. It is worth mentioning that in 2016, 15 different global insurers decided to create The Blockchain insurance Industry Initiative B3i which aims at exploring the potential use-cases for blockchain technology in the insurance industry.
According to Di Caro, this is the direction that the company should take and in which the whole industry should move forward. The intention is to enlarge the scope of the prototype as well in order to onboard other companies.