Enabling the insurance ecosystem to engage digital citizens.

Using blockchain technology we connect participants in the insurance ecosystem enabling them to deliver a straight through, digital client experience.

Enabling the insurance ecosystem
to engage digital citizens.

Using blockchain technology we connect participants in the insurance ecosystem
enabling them to deliver a straight through, digital client experience.

Enabling the insurance ecosystem to engage digital citizens.

Using blockchain technology we connect participants in the insurance ecosystem enabling them to deliver a straight through, digital client experience.

introduction

An Introduction

Disrupting Insurance with Blockchain

Galileo Platforms is a platform technology company serving the insurance sector. Using blockchain technology we connect participants in the insurance ecosystem enabling them to deliver a straight through, digital client experience.

New channels and segments

Reduce errors and costs

Efficient product innovation

Accurate data and analytics

Direct, digital sales channel

Engagement with startups

introduction
features

Key Features

Insurance Platform on a Blockchain

Our platform drives efficiency through the entire value chain by having a central source of encrypted client and contract data that the distributor, insurer and reinsurer all use with permissioned access.

Permissioned

  • Permissioned private blockchain for all participants including brokers, banks, insurers, reinsurers and other parties
  • Participants operate nodes on the network and can only see their transactions
  • Regional platform with registration on a country by country basis

Platform Components

  • Structure of over 90 smart contracts interoperating on the blockchain
  • APIs to abstract users from the blockchain
  • Oracles to deliver services and automate status changes
  • Reflector: Database and user interface for insurers and distributors

Ethereum

  • Smart contracts on an Ethereum blockchain
  • Encryption using the Quorum fork
  • Sub-second blockbuilding using rafting for consenus

Fees

  • Set up and subscription fees
  • Transaction fees
features
Use Cases

How it Works

Sample use cases

Bank Distribution of Insurance Products

Traditionally, banks and insurers have a complicated relationship with the distribution of insurance products. Our blockchain solution provides a platform for real-time transactions and transparency in data exchange.

Insurance Aggregators

Insurance brokerage companies have been facing difficulty in managing multiple insurers in terms of underwriting and commission settlement. Our platform creates an ideal environment for a standardised process and a single source of truth for all parties in the ecosystem.

Simplified Medical Claims Processing

We provide a platform for multiple insurers and health service provider to perform health claim processing. The automatic policy search and treatment triaging capabilities allow efficient and effective claim handling, creating faster claim settlement.

Reinsurers

Reinsurer and insurer rely heavily on periodic reconciliation of records with lack of real time information of the transactions. Reinsurers are able to make use of our platform to retrieve data at any point of time for risk management analysis and tracking of claims processing.

Insurers and Reinsurers

Scalable and economical revenue growth with lower distribution & transaction costs.

Distributors

New types of distributors to offer a full digital experience and attract new clients.

Use Cases
history

Our History

Milestones

May 2016

Establishment of Galileo Platforms Limited

June 2017

New Business Functionality Completed

September 2017

Payments Functionality Completed

November 2017

Riders Functionality Completed

July 2018

Claims Functionality Completed

September 2018

USD2M raised in Series A funding

December 2018

Medical Claims Functionality Completed

history
team

The Team

Experience covering 5 continents

The co-founders of Galileo have decades of insurance experience specialising in Asia.

Mark Wales

Mark Wales

Co-Founder and CEO

Annette King

Annette King

Co-Founder and Chair

Matthew Crooks

Matthew Crooks

Chief Technology Officer

Danny Wan

Danny Wan

Business Development Director

John Yu

John Yu

Senior Software Engineer

Siu On Dennis Pang

Siu On Dennis Pang

Solution Delivery Manager

Eric Shu

Eric Shu

Software Engineer

Tim Man

Tim Man

Software Engineer

team
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Get in touch

Contact us

We welcome you to contact us for more information
about our services.

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