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

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<dc:creator>Sawla, Srishti</dc:creator>
<dc:creator>A Medium Corporation</dc:creator>
<dc:description xml:lang="es">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

<dc:publisher>A Medium Corporation</dc:publisher>
<dc:rights xml:lang="es">InC -</dc:rights>
<dc:subject xml:lang="es">Seguros paramétricos</dc:subject>
<dc:subject xml:lang="es">Blockchain</dc:subject>
<dc:subject xml:lang="es">Smart contracts </dc:subject>
<dc:subject xml:lang="es">Suscripción de riesgos</dc:subject>
<dc:type xml:lang="es">Books</dc:type>
<dc:title xml:lang="es">Parametric insurance & Blockchain : a new dimension to the ever young Insurance Industry</dc:title>