Everledger Joined Allianz Accelerator to Help Find New Application of the Blockchain

December 23, 2015         By: Asif Imtiaz

Recently, Everledger joined the Allianz owned startup accelerator, where they are planning to expand the use of blockchain technology to combat insurance fraud.

Based in Germany, Allianz is one of the world’s leading providers of insurance and asset management services.

Everledger acts as a permanent ledger for diamond certification and provides verification for insurance companies, owners of diamonds, and works closely with law enforcement agencies to help combat sales of stolen diamonds and insurance fraud.

However, Everledger claims that their blockchain technology can be used to track any assets and diamonds are just a stepping stone for their business model.

This is where Allianz can utilize the technology developed by Everledger as the use of blockchain to keep a database of luxury goods can expand into other areas. For example, Everledger’s technology can be used to keep track of fine art pieces or even expensive luxury watches!

According to Sylvain Theveniaud, the Managing Director of Allianz Accelerator, they are want to work with Everledger in order to develop proof-of-concept for applying blockchain technology to solve a number of real world business problems.

Although Mr. Theveniaud said that his company sees a lot of potential in the blockchain technology that Everledger is developing, they are not clear about specific cases where it can come handy.

“We think that it’s a good time to start working with Everledger and see what kind of use cases we can develop with them,” Commenting on welcoming Everledger to the Allianz Accelerator he said.

Allianz Accelerator has recently included six new companies in order to “explore” a number of new financial technologies.

On the other hand, Leanne Kemp, the founder and Chief Executive Officer of Everledger, said that her company has already “accumulated knowledge” to help insurers reduce the core risks by providing a trusted ledger of ownership.