Partners Group and inacta make blockchain very real
There is a lot of hype swirling around blockchain.
And a great deal of excitement mixed with uncertainty about the technology’s true potential and possible use cases. The current craze of Initial Coin Offerings (ICOs) only adds to the fever – and has made Switzerland the subject of great interest and no little controversy.
However, there are some companies which are cutting through the hype and getting down to the business of putting blockchain solutions to work in a very real way.
One of them is Partners Group – a global private markets investment manager, serving over 900 institutional investors worldwide. With the help of inacta, an independent IT consulting company based in Zug, Switzerland, the asset management company has implemented a document-verification solution using smart contracts and based on the Ethereum blockchain.
“Even though blockchain is still in the R&D stage, it’s very clear that it can already start to have a positive influence on businesses here and now,” says inacta's Managing Partner Ralf Glabischnig.
The signing service solution provided by inacta requires timestamp and sender authentication for agreements between two parties, facilitating greater security and process efficiency for Partners Group. It is a first step towards using smart contracts on a larger scale.
“We are looking to the future,” comments Dr. Raymond Schnidrig, Partner and CTO at Partners Group. “And we see the potential to use the blockchain technology in several of our existing operational processes as a means of ensuring counterparty security for the ultimate benefit of our clients.”
It is no wonder that this development comes out of Zug – a hot-bed of blockchain activity and home to the Crypto Valley Association, of which inacta is a founding member.
The company is also one of the initiators of the Blockchain Competition – the startup competition for blockchain companies with the largest cash prize ($100 000) anywhere in the world.
More advancements are on the horizon.
News - 30.08.2017
Etherisc moves to Crypto Valley and brings Lakeside Partners and inacta on board
The prospect of building a decentralized insurance platform is getting closer to becoming a reality thanks to some powerful new partnerships.
Etherisc, an innovative startup, currently based in Germany and building decentralized applications (DApps) for insurance on the Ethereum blockchain, is partnering with Lakeside Partners, and inacta, both Zug-based companies who will support Etherisc as it moves its headquarters to Crypto Valley.
Last year, Etherisc captured the attention of the blockchain developer community when they launched the Flight Delay Dapp to offer flight delay insurance to the more than 1000 attendees traveling to DevCon2 in Shanghai. They later adapted their initial project to demonstrate other parametric insurance solutions, e.g. a crop insurance using the same smart-contract technology and weather data.
The startup's technology, utilising Ethereum-based smart contracts enables the complete automation of insurance processes, risk calculations, and damage assessments based on multiple data sources. Thanks to Etherisc's open platform, there will be a wide range of options for developing insurance applications which are more transparent and offer fair conditions and a better experience to customers.
Lakeside Partners brings a wealth of entrepreneurial experience to the partnership as well as first-hand understanding of the insurance industry. Together with its partner company, inacta, it is the initiator of the Blockchain Competition, Europe’s largest startup contest for blockchain teams building applications for insurance.
And it is here that the partnership will be particularly beneficial for both sides. On the one hand, inacta will continue to expand its position as one of the most innovative consulting partners and build its expertise in new technologies like blockchain as they emerge. On the other hand, Etherisc will be able to take advantage of the extensive network of contacts that inacta has built up in its position as a well-respected partner among the majority of Switzerland's insurers.
On a personal level, inacta and Lakeside Partners will be directly available to support the two legal entities, which Etherisc is in the process of forming: the Decentralized Insurance Foundation and Etherisc Holding. Mathias Ruch, Managing Partner of Lakeside Partners will join the board of the Foundation, while inacta’s Managing Partner Ralf Glabischnig will lend his support and insight as a board member of Etherisc Holding - bringing together the startup's different legal entities from Germany, the US and UK. Lakeside Partners will also provide Etherisc with office space and support based out of the Lakeside Business Center during the startup's expansion in Zug.
The possibility of radically influencing and changing the insurance industry with its decentralized approach makes it perfectly logical for Etherisc to build relationships with experienced partners in the insurance space, starting in Zug, part of what is known as Crypto Valley.
Says Stephan Karpischek, Co-Founder of Etherisc, " Lakeside Partners and inacta are perfect partners for us in Crypto Valley. Their expertise and network are highly valuable for Etherisc. We are looking forward to working with them to develop the decentralized insurance platform."
“It is fantastic to see startups of Etherisc’s calibre doing great things.” adds Ralf Glabischnig of inacta. “We are really excited to see them take off and excel and we’re glad to be onboard, supporting them in this journey.”
Blockchain Competition 2017
inacta is one of the initiators of the Blockchain Competition which 2017 theme is #blockchain4insurance. inacta thus plays a pioneering role exploring new technologies and searches, together with selected partners from the insurance industry and opinion leaders and organizations from the blockchain ecosystem, the most promising startups whose solutions are applicable for the insurance industry.
Therefore, inacta counts on the growing strength of the local blockchain-movement and, being itself a member, involves the partners from the Crypto-Valley-Initiative.
For further information please visit http://www.blockchaincompetition.ch and follow us on twitter @blockchain_comp.
Leading the way in information management
Information management the Swiss way - confidentiality is our bread and butter
We live in a world of information. Information is the basis for every decision and all commercial dealings. Without reliable, ready access to the information that they require, businesses, divisions and employees are simply unable to perform their duties.
Today, dealing with information has become a highly complex task, with growing, constantly changing requirements. This makes targeted navigation through information and information management processes increasingly important, but also increasingly difficult. inacta acts as a guide through this world of information, helping to lead companies towards the best solutions, supporting them every step along the way. At the most critical points along the way, inacta's experience, knowledge and methods guarantee that the client's goals will be achieved as planned. We are always close by, always alert and thinking one step ahead to ensure that we are able to react to unexpected events in the best possible way.
Understanding how our systems and processes work
Discipline in enterprise information management
Input management involves the analysis and processing of incoming information from various channels.
- Receipt of unstructured and structured information
- Extraction and validation of relevant information
- Conversion into internal formats for further processing, or into standard formats for long-term archiving
- Identification and allocation of information for ongoing processing in company processes
Dossiers & workflow
Documents from various sources are sorted by topic and collated into target group-oriented folders. Workflows assign the documents to the correct processes.
- Identification of information in the relevant business context
- Displaying documents in structures such as virtual dossiers, dynamic folders and directories, as well as displaying the relevant content
- Analysis of the data inventory as well as user behaviour and relevant process information
Storage & archiving
Documents which are not (yet) suitable for archiving are temporarily saved (storage) until they are filed for long-term storage (archiving) on read-only storage media.
- Securing compliance with internal guidelines and legal requirements regarding manner and duration of archiving (compliance)
Output management involves the preparation and recipient-oriented distribution of information via various channels.
- Selection and consolidation of information pertaining to a specific business context
- Converting the information to channel specific format
- Transmission via suitable channels, taking security and regulatory requirements into account
Success story - input management
Optimizing paper-based invoicing for a health insurance provider
Our client, a Swiss health insurance and accident cover insurance provider had already an internal scanning center which digitalized all incoming post in place.
The capturing of the invoice details on the TARMED invoices was outsourced to an external service provider, leading to additional costs, processing times and quality problems that the client was not happy with.
The client wished to carry out the text recognition on the TARMED invoices in-house using a flexible OCR platform. In a second phase, in order to achieve greater economies, the client hoped to use the platform to process other invoices which did not share the TARMED format.