BTP’s blockchain management platform Sextant for DAML selected by climate risk insurtech The Demex Group
By: Duncan Johnston-Watt
Tags: Blockchain, Insurtech, Smart Contracts, Climate Change, Risk Management

BTP’s blockchain management platform Sextant for DAML selected by climate risk insurtech The Demex Group

BTP product underpins Demex platform that shields customers from the financial surprises of volatile weather empowering them to grow their business Duncan Johnston-Watt Follow Nov 19, 2020 · 4 min read

Washington DC — November 19, 2020 — The Demex Group, a leading technology company that has pioneered a new paradigm to customize and deliver climate-resilience through financial risk solutions on a global scale, has selected Sextant for DAML, the blockchain management platform provided by Blockchain Technology Partners (BTP), to deploy and manage the blockchain and smart contract infrastructure that underpins their Demex platform.

The Demex Solutions Center is a robust end-to-end ecosystem that shields customers from the financial surprises of volatile weather, empowering them to grow their businesses. Under the covers, it leverages blockchain and DAML smart contracts to enable the delivery of customized transaction platforms for risk providers and end users to creatively analyze client exposures and develop bespoke financial risk solutions.

“We chose DAML as our smart contract language as it enables us to develop multi-party business processes rapidly. As a result we can develop bespoke financial risk solutions for our clients more efficiently and competitively,” said Ed Byrns, President & CEO of The Demex Group. “We selected Sextant for DAML to allow us to fully realize its benefits by providing us with a stable platform to build upon, accelerating our development and reducing our time to market.”

Sextant for DAML is a software product that radically simplifies the deployment and management of both blockchain networks and smart contracts. Sextant for DAML abstracts the underlying operational complexity, providing an enterprise grade platform that frees up companies to take full advantage of the power of DAML and focus on addressing the needs of their business.

“We are delighted that our product Sextant for DAML was chosen by this leading insurtech company to enable them to mitigate the increasing challenge of climate risk for their customers,” said Duncan Johnston-Watt, CEO & Co-founder of BTP. “This is an excellent case study of the business value of blockchain and smart contracts — by enabling competing risk providers to collaborate and deliver customized solutions to a broader market. The Demex Group is lowering the barrier to entry for businesses to develop climate resiliency.”

DAML applications provide a robust framework to better manage transactional workflows, resulting in improved operational efficiency and risk mitigation capabilities. DAML also preserves privacy, trust and speed across any distributed ledger or database. This is particularly relevant to the capital markets and insurance sectors.

“Demex is at the forefront of innovation in risk management,” said Yuval Rooz, Co-founder & CEO at Digital Asset. “Climate risk is increasingly becoming a major challenge for many organizations. The team at Demex has responded with a solution that precisely calibrates weather-related risks, enabling companies of all sizes to better manage their bottom line. We are excited to see Demex expand its portfolio using Sextant for DAML.”

Sextant for DAML, developed in partnership with Digital Asset, radically simplifies the deployment and management of DAML smart contracts on Hyperledger Sawtooth and Hyperledger Besu as well as Amazon QLDB and Amazon Aurora. It is rapidly emerging as the platform of choice for companies delivering DAML applications in production.