Wakam Case Study

Wakam (Ex-La Parisienne Assurances) creates tailor-made, white-label solutions for its distributor partners and clients based across 13 European countries. With a €382 million turnover in 2019, Wakam is one of the top 20 P&C insurers in France.

In 2020, the company was included on the Financial Times “FT 1000: Europe's Fastest Growing Companies” ranking No.1 in the Top 50 largest turnovers—topping all European insurers. Strongly committed to its social engagements, Wakam is evolving into a Mission-driven company at the end of 2020.

Henri Lieutaud, Lead Blockchain Developer at Wakam (Ex-La Parisienne Assurances), has played a pivotal role in building their IPaaS platform. The company uses blockchain alongside other technologies like an operational SQL database that stores a normalised copy of the blockchain data and the data that they do not want to store on the blockchain. Their blockchain is considered the main source of truth. The issue Wakam (Ex-La Parisienne Assurances) faced was how to make sure that the data stored in the SQL database was correctly synced with their blockchain and that there were no discrepancies.

Lieutaud and the team, despite having anticipated potential problems, became frustrated with how the data was organised. For many months, several solutions were tested in preparation for the launch on Ethereum based Quorum in December 2019. With over 60,000 contracts to move, they had to ensure that they could query the data in a business centric rather than blockchain centric way.

Wakam (Ex-La Parisienne Assurances) first began to use the Chainlens Blockchain Explorer in October 2019 when they identified the need for a quick and easy way to query the data on their blockchain.

They were not disappointed! By using Chainlens they could not only save time, but also had a much more efficient way of organising their data.

Lieutaud quickly noticed that it was easier to query Chainlens Blockchain Explorer than to make a query against a blockchain node directly. When organising the data, he no longer needed to organise by blocks and transaction and then run a query on all of these, he could simply query a contract in Chainlens Blockchain Explorer’s UI or API backend and get information on all of the events and transactions that had happened. This is a process that is not available in blockchain nodes.

Wakam (Ex-La Parisienne Assurances) are on a perpetual quest to find the added value of using blockchain technology, for themselves, their partners and their customers. The Chainlens Blockchain Explorer continues to prove it is an essential asset, assisting them to fulfil their quest.

Speaking frankly, Lieutaud reiterates that they use the Chainlens Blockchain Explorer to extract all of the data they need from the blockchain.

After switching to Quorum in December, Wakam (Ex-La Parisienne Assurances) has scaled rapidly. Just two months after importing the initial 60,000 contracts to Quorum, they went to over 100,000 contracts. Now, the company is now seeing growth of 30,000 new contracts every month. Lieutaud has been amazed with this result and regards the Chainlens Blockchain Explorer as an integral factor that has enabled the company to successfully meet the demands presented by such rapid growth.

The Chainlens Blockchain Explorer is the market-leading blockchain analytics platform for organisations. It provides you with transparency of your blockchain assets and smart contract applications. It also provides advanced searching, filtering and sorting capabilities, with a directly accessible API for reporting.