The Need of Blockchain Applications in Insurance
Insurance(blockchain in insurance company in India) companies have to store, verify and process huge volumes of customer data and
release payments against claims. An absence of an automates solution has left behind a
complicated ecosystem inviting inaccurate claims handling and policy manipulation.
Not to miss a helpless customer who has no choice but to avail the services of an
underperforming sector.
For the insurance(blockchain in insurance company in India) sector, blockchain cryptographically links together claims data,
transaction data and other valuable data sets from all stakeholders. The data
stored in a ledger is copied to all thereby assuring complete transparency.