Chinese insurance giant Minsheng Life Insurance is working with Ethereum developers from BlockApps and ConsenSys, to develop an employee appreciation pilot program for Minsheng Insurance to initially support their sales force.
Cheng Dong, General Manager of Data Technology Services (DTS) Department in Minsheng Insurance, indicated that "blockchain is the future technological innovation infrastructure for modern financial services.
Moving forward, blockchain will provide the foundational layer for Minsheng Insurance to become the leading technology-based insurance provider in China. We look forward to this partnership with BlockApps and ConsenSys."
"Minsheng understands the power of blockchain technology and have identified many use cases that BlockApps and ConsenSys can help implement and improve our business. Creating a blockchain based employee appreciation and loyalty program for Minsheng is just the beginning."
Eventually the platform will include the ability for Minsheng's salesforce to continue their high touch interactions with clients thereby increasing loyalty and customer support.
Victor Wong, CEO of BlockApps, said: "We've seen huge demand in China for blockchain applications, and Minsheng is leading the way with the country's first pilot-production deployment. They are setting an example for the entire Chinese financial industry on how to implement blockchain technology by working with partners."
"Blockchain development within China and the rest of Asia has been growing rapidly." Said James Slazas, Director of China Enterprise ConsenSys. "We are excited to collaborate on Minsheng's initial steps on a long blockchain journey.
"This next generation system will help organizations with a large salesforce to motivate their employees. In turn, their salesforce will be able to provide exceptional customer support. We believe this collaboration on Ethereum will lead to fundamental changes within the insurance industry and beyond."