Damco's B-Life is a blockchain-powered solution designed to address the challenges faced by life settlement companies. It leverages decentralized, distributed ledger technology (DLT) to create a trusted, immutable, auditable, and transparent environment for frictionless life settlements. The solution streamlines various processes, reduces operational costs, and enhances security in policy management and transactions.

Key Features

Blockchain-based Policy Management Secure and auditable system for managing life settlement policies

• Improved efficiency in policy updates, issuance, and verification
• Smart contracts for signing immutable contracts online, minimizing delays

Enhanced Security and Fraud Prevention Leveraging blockchain technology to improve security measures

• Automated customer verification using DLT
• Instant fraud detection capabilities
• Blockchain-powered customer KYC (Know Your Customer)

Transparent Payment System Secure and traceable payment transfers on the blockchain

• Expedited transaction execution
• Risk-free and accelerated claim settlement process

Decentralized Escrow System DLT-based escrow for secure and authorized exchanges

• Regulates policy sale, purchase, and payments
• Ensures risk-free litigation

Benefits

Increased Transparency and Trust Blockchain technology enhances overall process transparency

• Immutable and auditable records of all transactions
• Elimination of intermediaries, reducing potential manipulation

Operational Efficiency Streamlined processes for improved productivity

• Faster life settlement transactions
• Reduced operational costs
• Automated value transfer without third-party intervention

Enhanced Risk Management Improved assessment and mitigation of risks

• Effective evaluation of risks associated with life settlement applications
• Redressal of life expectancy risks linked to fraudulent LE reports