Documentation Center - Parametric insurance & Blockchain : a new dimension to the ever young Insurance Industry

Publication: San Francisco : A Medium Corporation, 2018

Notes: Sumario: Parametric insurance and smart contracts seem made for each other. It's not the only type of insurance that will benefit from blockchain technology, but it probably represents the lowest-hanging fruit. It uses data sources and algorithms for underwriting and claims, and it's initiated by and paid to the policyholder based upon a set of specific parameters hence, parametric along with a predetermined sum that forgoes the traditional claims process.Off-chain data sources (such as IoT device events) capture data on usage related to shared automobiles, homes, commercial spaces, etc. and offer on-demand utilization related policies. This gives rise to a whole new class of ondemand insurance products. Creating a no-touch, frictionless procedure can eliminate human error in the claims process and could
potentially save insurers millions every year and produce a better customer experience. Blockchain and parametric insurance have limitless possibilities

Materia / lugar / evento: Seguros paramétricos Blockchain Smart contracts Suscripción de riesgos

Other authors: A Medium Corporation

Other categories: 216.1

Rights: In Copyright (InC): http://rightsstatements.org/vocab/InC/1.0/