Galileo lining up pilots to sell life insurance over Quorum blockchain

Mark Wales, demoing Galileo Platforms

Hong Kong-based fintech startup Galileo Platforms is in talks with an insurance company and with a distributor of insurance products to pilot the sales of life-insurance products over a blockchain, says co-founder Mark Wales.

“We are using blockchain to transform insurance,” he told DigFin while showing a demo of the platform. “Legacies [systems and business models] are so ingrained, and the products are so complex, that the industry needs out-of-the-box thinking.”

Galileo’s service is meant to enable insurers, reinsurers and distributors…

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