Everledger announced the collaborative launch of the Diamond Risk Platform with the Diamond Durability Laboratory (DDL) which dramatically shifts the risk assessment reporting of diamond damage into an innovative realm.
An industry-first, with development commencing in 2016 and completed in Q1 2018, the
Diamond Risk Platform performs the creation, management and storage of DDL's leading
comprehensive risk assessment reports through Everledger's blockchain-based
solution. This directly benefits diamond manufacturers as well as diamond
underwriting services that major insurers provide for the industry.
Everledger Founder & CEO Leanne Kemp said, "We are proud to be able to extend our
innovative solution to further facilitate risk mitigation in the diamond industry
through another stakeholder channel. Working with key industry leaders like DDL is
vital for the collective innovation shift of the industry and we are pleased to
consistently play a role in driving this progression for the diamond industry.
The convergence of our technology platform with DDL's proprietary advanced
technology in achieving interoperability is a massive step in the service
enhancement for the industry, in particular the high-end diamond insurers."
DDL Co-Founder & Chief Scientist Dr. Daniel Howell said, "DDL are the only
processing risk assessors that are pushing forward the professionalism and integrity
of this business. Offering our services in both New York and Antwerp, it is vital
for us to ensure the integrity of the risk evaluation pipeline, from our lab to the
manufacturers, through to the insurance brokers and underwriters. We are proud to be
partnering with Everledger, as they are leading the diamond industry towards
transparent and secure business practices."
At present DDL's Diamond Risk Evaluations, reports used for obtaining processing
insurance, are being issued and managed through Everledger's Diamond Risk platform.
A new to the industry Consignment Report, which documents the condition of a diamond
prior to being released on consignment, is in development and will be hosted on the
platform by the end of the year. The reports encrypted on the platform are issued
and then accessible to be viewed by relevant parties through an application as well
as a website.
Securing the reports on the blockchain ensures a single source of verified reports
for the relevant stakeholders, developed in a time-efficient and authenticated
manner.
The platform is now available with the issuance of new reports already commenced.