AXA starts new blockchain scheme in Sweden

AXA Partners, which is a part of the same group as AXA XL, has started a blockchain payment protection experiment to support people who are involuntary unemployed in Sweden.

The scheme, which will be of interest to those involved in blockchain issues in Bermuda, is being run in co-operation with the Swedish Public Employment Service (Arbetsförmedlingen) and the startup Stratumn.

The idea is that customer compensation will be fast-tracked by using blockchain. AXA said as well as accelerating the process, blockchain will “remove administrative pain for customers and reduce the risk of errors,” and “maximise the chance to recover a job”.

“We are delighted to cooperate with Stratumn and the Swedish Public Employment Service to experiment with this new innovative solution,” said Gilbert Chahine, CEO at AXA Partners. “Using advanced technology like blockchain to offer our customers a seamless and unique experience is part of our mission and fully aligned with AXA’s payer-to-partner strategy.”

Richard Caetano, CEO at Stratumn, added: “We believe in the importance of trust in the enterprise. We are proud to be working hand in hand with AXA Partners and the Swedish Public Employment Service on this showcase project. Built on our Proof of Process technology, we aim to help AXA Partners deliver a next level customer journey through provable traceability and privacy.”

The experiment is expected to be deployed by AXA Partners and Stratumn over the next few months in other locations.