SlideShare a Scribd company logo
Copyright © Blockchain Council www.blockchain-council.org 1
Copyright © Blockchain Council www.blockchain-council.org
5 Companies Using Blockchain To
Revolutionize Insurance
Blockchain is one of the most groundbreaking innovations, paving the way for
transformational changes in a number of industries. The emphasis of this blog will be on
the insurance industry, which is one of the many industries that can benefit from
Blockchain. Time and resources are spent on lawsuit settlement, KYCs, paperwork, and
other problems. We would expect the insurance industry to become more competitive as
a result of Blockchain.
2
Copyright © Blockchain Council www.blockchain-council.org
Different areas which need attention:
Before we look at how Blockchain can benefit the insurance industry and the companies
that are currently operating in this field, let's look at some of the issues:
1. Claim management- Claims management is the first field that requires focus. We can
automate claim submission processes with the aid of Blockchain, enabling claim
management to move at a faster rate.
2. Peer-to-peer insurance- We all know that Blockchain works on peer-to-peer
networking. And this feature of Blockchain can prove useful in the insurance segment as
well. With the help of Blockchain, one gets instant payment in case of the insurance
demand event surges.
3
Copyright © Blockchain Council www.blockchain-council.org
3. Reinsurance – Insurance firms can directly obtain real-time data from insurers using
Blockchain. As a result, the operating costs are reduced.
4. Fraud Detection & Risk Reduction – Fraud and risk detection are two important fields
that must be tackled. With the support of Blockchain, arguments can be made that are
far more trustworthy. It also gives the policyholder the option of paying a higher
premium.
4
Copyright © Blockchain Council www.blockchain-council.org
Companies that are actively leveraging Blockchain
technology in the insurance sector:
● Black – This organisation is trying to create a decentralised crowdfunding market.
Black is a digital insurance firm that specialises in Blockchain-based insurance
solutions.
● B3i – Companies like B3i are using the Blockchain platform to provide insurance
solutions.
● Immediate – One of the most important aspects of Blockchain technology is smart
contracts. It enables the automatic execution of contracts, allowing for faster
payment. Immediate is a blockchain-based business that uses the Zilliqa platform. It
is attempting to make policies more transparent through the use of smart contracts.
5
Copyright © Blockchain Council www.blockchain-council.org
● Lemonade – This is yet another startup that provides homeowners and landlords
with AI and Blockchain-based insurance solutions.
● Tierion – When it comes to Blockchain, the aim is to make things simpler and
quicker, and Tierion operates in the same direction. It double-checks the
information, files, and processes.
The industry is being transformed by blockchain-based solutions. Whether it's the
insurance industry or another, every industry requires technical assistance to speed up
and develop its processes.
6
Copyright © Blockchain Council www.blockchain-council.org
Blockchain developers are moving in the same direction. They are working to develop
the most reliable blockchain-based solutions possible. We will see an increase in the
market for Blockchain professionals in the coming years. If you want to advance your
career, becoming familiar with the Blockchain technology is important. To learn more
about the different Blockchain certification programmes and Blockchain training, contact
the Blockchain Council.
7
Copyright © Blockchain Council www.blockchain-council.org
Conclusion-
The insurance industry's smooth operation is hindered by organisational inefficiencies
such as unnecessary paperwork, lengthy claim payments, and the possibility of becoming
a victim of fraud. All of these complexities can be easily solved with the aid of Blockchain.
It simplifies and expedites claim resolution while also maintaining data protection and
automating the process.
8
Copyright © Blockchain Council www.blockchain-council.org
Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain
space today.
● Certified Blockchain Expert
● Certified Blockchain Developer
● Certified Smart Contract Developer
● Certified Solidity Developer
● Certified Ethereum Developer
9
THANK YOU!
Any questions?
You can mail us at
hello@blockchain-council.org
Copyright © Blockchain Council www.blockchain-council.org 10

More Related Content

What's hot

Blockchain Use Cases: Think of a "Public" Pub/Sub Queue
Blockchain Use Cases: Think of a "Public" Pub/Sub QueueBlockchain Use Cases: Think of a "Public" Pub/Sub Queue
Blockchain Use Cases: Think of a "Public" Pub/Sub Queue
Altoros
 
Blockchain for Marketing & Insights
Blockchain for Marketing & InsightsBlockchain for Marketing & Insights
Blockchain for Marketing & Insights
Rolfe William Swinton
 
Blockchain 101
Blockchain 101Blockchain 101
Blockchain 101
Jithin Babu
 
Blockchain Trends and Applications
Blockchain Trends and ApplicationsBlockchain Trends and Applications
Blockchain Trends and Applications
NICSA
 
Blockchain: Real World Use Cases
Blockchain: Real World Use CasesBlockchain: Real World Use Cases
Blockchain: Real World Use Cases
Capgemini
 
Estate Exchange - Real-Estate Blockchain Slide (git)
Estate Exchange - Real-Estate Blockchain Slide (git)Estate Exchange - Real-Estate Blockchain Slide (git)
Estate Exchange - Real-Estate Blockchain Slide (git)
James Neo
 
Blockchain use cases
Blockchain use casesBlockchain use cases
Blockchain use cases
Software Infrastructure
 
Blockchain Applications in Enterprises
Blockchain Applications in EnterprisesBlockchain Applications in Enterprises
Blockchain Applications in Enterprises
MinHsien Chang
 
Block chain A Paradigm Shift
Block chain A Paradigm ShiftBlock chain A Paradigm Shift
Block chain A Paradigm Shift
Ramanan Jagannathan
 
Enterprise Blockchain: A Short Introduction
Enterprise Blockchain: A Short Introduction Enterprise Blockchain: A Short Introduction
Enterprise Blockchain: A Short Introduction
Rob Bailey
 
Top 7 Trends To Shape Blockchain Follow in 2020
Top 7 Trends To Shape Blockchain Follow in 2020 Top 7 Trends To Shape Blockchain Follow in 2020
Top 7 Trends To Shape Blockchain Follow in 2020
Blockchain Council
 
Blockchain applications 15 killer concepts for you
Blockchain applications  15 killer concepts for you Blockchain applications  15 killer concepts for you
Blockchain applications 15 killer concepts for you
Blockchain Council
 
Blockchain @ Insurance Analytics Summit Canada
Blockchain @ Insurance Analytics Summit CanadaBlockchain @ Insurance Analytics Summit Canada
Blockchain @ Insurance Analytics Summit Canada
Cristina Ignatenco
 
BlockChain Strategists - English presentation
BlockChain Strategists - English presentationBlockChain Strategists - English presentation
BlockChain Strategists - English presentation
BlockChain Strategists
 
Overview of blockchain technology and architecture
Overview of blockchain technology and   architectureOverview of blockchain technology and   architecture
Overview of blockchain technology and architecture
EY
 
Blockchain use cases
Blockchain use casesBlockchain use cases
Blockchain use cases
Manav Gupta
 
Real world
Real worldReal world
Real world
OliviaJune1
 
Blockchain and Smart Contracts (Series: Blockchain Basics)
Blockchain and Smart Contracts (Series: Blockchain Basics)Blockchain and Smart Contracts (Series: Blockchain Basics)
Blockchain and Smart Contracts (Series: Blockchain Basics)
Financial Poise
 
Transaction speed
Transaction speedTransaction speed
Transaction speed
OliviaJune1
 
Gm financial partners with blockchain to prevent identity fraud
Gm financial partners with blockchain to prevent identity fraudGm financial partners with blockchain to prevent identity fraud
Gm financial partners with blockchain to prevent identity fraud
Blockchain Council
 

What's hot (20)

Blockchain Use Cases: Think of a "Public" Pub/Sub Queue
Blockchain Use Cases: Think of a "Public" Pub/Sub QueueBlockchain Use Cases: Think of a "Public" Pub/Sub Queue
Blockchain Use Cases: Think of a "Public" Pub/Sub Queue
 
Blockchain for Marketing & Insights
Blockchain for Marketing & InsightsBlockchain for Marketing & Insights
Blockchain for Marketing & Insights
 
Blockchain 101
Blockchain 101Blockchain 101
Blockchain 101
 
Blockchain Trends and Applications
Blockchain Trends and ApplicationsBlockchain Trends and Applications
Blockchain Trends and Applications
 
Blockchain: Real World Use Cases
Blockchain: Real World Use CasesBlockchain: Real World Use Cases
Blockchain: Real World Use Cases
 
Estate Exchange - Real-Estate Blockchain Slide (git)
Estate Exchange - Real-Estate Blockchain Slide (git)Estate Exchange - Real-Estate Blockchain Slide (git)
Estate Exchange - Real-Estate Blockchain Slide (git)
 
Blockchain use cases
Blockchain use casesBlockchain use cases
Blockchain use cases
 
Blockchain Applications in Enterprises
Blockchain Applications in EnterprisesBlockchain Applications in Enterprises
Blockchain Applications in Enterprises
 
Block chain A Paradigm Shift
Block chain A Paradigm ShiftBlock chain A Paradigm Shift
Block chain A Paradigm Shift
 
Enterprise Blockchain: A Short Introduction
Enterprise Blockchain: A Short Introduction Enterprise Blockchain: A Short Introduction
Enterprise Blockchain: A Short Introduction
 
Top 7 Trends To Shape Blockchain Follow in 2020
Top 7 Trends To Shape Blockchain Follow in 2020 Top 7 Trends To Shape Blockchain Follow in 2020
Top 7 Trends To Shape Blockchain Follow in 2020
 
Blockchain applications 15 killer concepts for you
Blockchain applications  15 killer concepts for you Blockchain applications  15 killer concepts for you
Blockchain applications 15 killer concepts for you
 
Blockchain @ Insurance Analytics Summit Canada
Blockchain @ Insurance Analytics Summit CanadaBlockchain @ Insurance Analytics Summit Canada
Blockchain @ Insurance Analytics Summit Canada
 
BlockChain Strategists - English presentation
BlockChain Strategists - English presentationBlockChain Strategists - English presentation
BlockChain Strategists - English presentation
 
Overview of blockchain technology and architecture
Overview of blockchain technology and   architectureOverview of blockchain technology and   architecture
Overview of blockchain technology and architecture
 
Blockchain use cases
Blockchain use casesBlockchain use cases
Blockchain use cases
 
Real world
Real worldReal world
Real world
 
Blockchain and Smart Contracts (Series: Blockchain Basics)
Blockchain and Smart Contracts (Series: Blockchain Basics)Blockchain and Smart Contracts (Series: Blockchain Basics)
Blockchain and Smart Contracts (Series: Blockchain Basics)
 
Transaction speed
Transaction speedTransaction speed
Transaction speed
 
Gm financial partners with blockchain to prevent identity fraud
Gm financial partners with blockchain to prevent identity fraudGm financial partners with blockchain to prevent identity fraud
Gm financial partners with blockchain to prevent identity fraud
 

Similar to 5 companies using blockchain to revolutionize insurance

Blockchain technology and innovation in the insurance sector
Blockchain technology and innovation in the insurance sectorBlockchain technology and innovation in the insurance sector
Blockchain technology and innovation in the insurance sector
Blockchain Council
 
5 blockchain implementation strategy for business
5 blockchain implementation strategy for business5 blockchain implementation strategy for business
5 blockchain implementation strategy for business
Blockchain Council
 
How Does Blockchain Technology Help In Health Insurance
How Does Blockchain Technology Help In Health Insurance How Does Blockchain Technology Help In Health Insurance
How Does Blockchain Technology Help In Health Insurance
Blockchain Council
 
How does blockchain developer help improving the banking & finance sector
How does blockchain developer help improving the banking & finance sector How does blockchain developer help improving the banking & finance sector
How does blockchain developer help improving the banking & finance sector
Blockchain Council
 
How will the finance industry benefited by blockchain technology in 2020
How will the finance industry benefited by blockchain technology in 2020How will the finance industry benefited by blockchain technology in 2020
How will the finance industry benefited by blockchain technology in 2020
Blockchain Council
 
Incredible role of blockchain in finance sector
Incredible role of blockchain in finance sectorIncredible role of blockchain in finance sector
Incredible role of blockchain in finance sector
Blockchain Council
 
Blockchain technology and innovation in insurance sector
Blockchain technology and innovation in insurance sectorBlockchain technology and innovation in insurance sector
Blockchain technology and innovation in insurance sector
Global Tech Council
 
Blockchain Technology And Innovation In Insurance Sector
Blockchain Technology And Innovation In Insurance SectorBlockchain Technology And Innovation In Insurance Sector
Blockchain Technology And Innovation In Insurance Sector
Blockchain Council
 
Blockchain in insurance
Blockchain in insuranceBlockchain in insurance
Blockchain in insurance
zaarahary
 
Impact on the financial sector of blockchain technology
Impact on the financial sector of blockchain technologyImpact on the financial sector of blockchain technology
Impact on the financial sector of blockchain technology
Blockchain Council
 
How to become a sought after blockchain and finance professional
How to become a sought after blockchain and finance professional How to become a sought after blockchain and finance professional
How to become a sought after blockchain and finance professional
Blockchain Council
 
5 ways blockchain can transform human resource management
5 ways blockchain can transform human resource management5 ways blockchain can transform human resource management
5 ways blockchain can transform human resource management
Blockchain Council
 
Various blockchain specialization domains
Various blockchain specialization domainsVarious blockchain specialization domains
Various blockchain specialization domains
Blockchain Council
 
Blockchain technology's impact on the financial sector
Blockchain technology's impact on the financial sectorBlockchain technology's impact on the financial sector
Blockchain technology's impact on the financial sector
Global Tech Council
 
How blockchain startups make money?
How blockchain startups make money?How blockchain startups make money?
How blockchain startups make money?
Blockchain Council
 
When and why to use blockchain technology
When and why to use blockchain technology When and why to use blockchain technology
When and why to use blockchain technology
Blockchain Council
 
Blockchain and it’s importance on Insurance Industry
Blockchain and it’s importance on Insurance IndustryBlockchain and it’s importance on Insurance Industry
Blockchain and it’s importance on Insurance Industry
Artivatic.ai
 
The implications of blockchain for the insurance industry - Eurapco Peer Semi...
The implications of blockchain for the insurance industry - Eurapco Peer Semi...The implications of blockchain for the insurance industry - Eurapco Peer Semi...
The implications of blockchain for the insurance industry - Eurapco Peer Semi...
Vidal Chriqui
 
Role of Blockchain Technology In Business
Role of Blockchain Technology In BusinessRole of Blockchain Technology In Business
Role of Blockchain Technology In Business
Blockchain Council
 
How Blockchain App Development is Paving the Way for the Future
How Blockchain App Development is Paving the Way for the FutureHow Blockchain App Development is Paving the Way for the Future
How Blockchain App Development is Paving the Way for the Future
Damco Solutions
 

Similar to 5 companies using blockchain to revolutionize insurance (20)

Blockchain technology and innovation in the insurance sector
Blockchain technology and innovation in the insurance sectorBlockchain technology and innovation in the insurance sector
Blockchain technology and innovation in the insurance sector
 
5 blockchain implementation strategy for business
5 blockchain implementation strategy for business5 blockchain implementation strategy for business
5 blockchain implementation strategy for business
 
How Does Blockchain Technology Help In Health Insurance
How Does Blockchain Technology Help In Health Insurance How Does Blockchain Technology Help In Health Insurance
How Does Blockchain Technology Help In Health Insurance
 
How does blockchain developer help improving the banking & finance sector
How does blockchain developer help improving the banking & finance sector How does blockchain developer help improving the banking & finance sector
How does blockchain developer help improving the banking & finance sector
 
How will the finance industry benefited by blockchain technology in 2020
How will the finance industry benefited by blockchain technology in 2020How will the finance industry benefited by blockchain technology in 2020
How will the finance industry benefited by blockchain technology in 2020
 
Incredible role of blockchain in finance sector
Incredible role of blockchain in finance sectorIncredible role of blockchain in finance sector
Incredible role of blockchain in finance sector
 
Blockchain technology and innovation in insurance sector
Blockchain technology and innovation in insurance sectorBlockchain technology and innovation in insurance sector
Blockchain technology and innovation in insurance sector
 
Blockchain Technology And Innovation In Insurance Sector
Blockchain Technology And Innovation In Insurance SectorBlockchain Technology And Innovation In Insurance Sector
Blockchain Technology And Innovation In Insurance Sector
 
Blockchain in insurance
Blockchain in insuranceBlockchain in insurance
Blockchain in insurance
 
Impact on the financial sector of blockchain technology
Impact on the financial sector of blockchain technologyImpact on the financial sector of blockchain technology
Impact on the financial sector of blockchain technology
 
How to become a sought after blockchain and finance professional
How to become a sought after blockchain and finance professional How to become a sought after blockchain and finance professional
How to become a sought after blockchain and finance professional
 
5 ways blockchain can transform human resource management
5 ways blockchain can transform human resource management5 ways blockchain can transform human resource management
5 ways blockchain can transform human resource management
 
Various blockchain specialization domains
Various blockchain specialization domainsVarious blockchain specialization domains
Various blockchain specialization domains
 
Blockchain technology's impact on the financial sector
Blockchain technology's impact on the financial sectorBlockchain technology's impact on the financial sector
Blockchain technology's impact on the financial sector
 
How blockchain startups make money?
How blockchain startups make money?How blockchain startups make money?
How blockchain startups make money?
 
When and why to use blockchain technology
When and why to use blockchain technology When and why to use blockchain technology
When and why to use blockchain technology
 
Blockchain and it’s importance on Insurance Industry
Blockchain and it’s importance on Insurance IndustryBlockchain and it’s importance on Insurance Industry
Blockchain and it’s importance on Insurance Industry
 
The implications of blockchain for the insurance industry - Eurapco Peer Semi...
The implications of blockchain for the insurance industry - Eurapco Peer Semi...The implications of blockchain for the insurance industry - Eurapco Peer Semi...
The implications of blockchain for the insurance industry - Eurapco Peer Semi...
 
Role of Blockchain Technology In Business
Role of Blockchain Technology In BusinessRole of Blockchain Technology In Business
Role of Blockchain Technology In Business
 
How Blockchain App Development is Paving the Way for the Future
How Blockchain App Development is Paving the Way for the FutureHow Blockchain App Development is Paving the Way for the Future
How Blockchain App Development is Paving the Way for the Future
 

More from Blockchain Council

An introduction to the EOS in Blockchain and Crypto
An introduction to the EOS in Blockchain and CryptoAn introduction to the EOS in Blockchain and Crypto
An introduction to the EOS in Blockchain and Crypto
Blockchain Council
 
How will blockchain change the economy
How will blockchain change the economyHow will blockchain change the economy
How will blockchain change the economy
Blockchain Council
 
How will ethereum change the world
How will ethereum change the world How will ethereum change the world
How will ethereum change the world
Blockchain Council
 
How blockchain can fix tax issues
How blockchain can fix tax issuesHow blockchain can fix tax issues
How blockchain can fix tax issues
Blockchain Council
 
How a newbie can start learning cryptocurrency trading
How a newbie can start learning cryptocurrency trading How a newbie can start learning cryptocurrency trading
How a newbie can start learning cryptocurrency trading
Blockchain Council
 
Blockchain will bring a radical rethink of banking
Blockchain will bring a radical rethink of bankingBlockchain will bring a radical rethink of banking
Blockchain will bring a radical rethink of banking
Blockchain Council
 
How does hyperledger fabric blockchain work
How does hyperledger fabric blockchain work How does hyperledger fabric blockchain work
How does hyperledger fabric blockchain work
Blockchain Council
 
Role of hyperledger fabric in blockchain
Role of hyperledger fabric in blockchainRole of hyperledger fabric in blockchain
Role of hyperledger fabric in blockchain
Blockchain Council
 
All You Need To Know About Transactions in Blockchain
All You Need To Know About Transactions in BlockchainAll You Need To Know About Transactions in Blockchain
All You Need To Know About Transactions in Blockchain
Blockchain Council
 
Use of blockchain in telecom and media industry
Use of blockchain in telecom and media industryUse of blockchain in telecom and media industry
Use of blockchain in telecom and media industry
Blockchain Council
 
Top 5 real world applications of blockchain
Top 5 real world applications of blockchain Top 5 real world applications of blockchain
Top 5 real world applications of blockchain
Blockchain Council
 
Top 5 Blockchain Platforms To Watch For In 2021
Top 5 Blockchain Platforms To Watch For In 2021Top 5 Blockchain Platforms To Watch For In 2021
Top 5 Blockchain Platforms To Watch For In 2021
Blockchain Council
 
Blockchain Programming Skills For New Developers
Blockchain Programming Skills For New DevelopersBlockchain Programming Skills For New Developers
Blockchain Programming Skills For New Developers
Blockchain Council
 
How blockchain technology could boost the tax system
How blockchain technology could boost the tax systemHow blockchain technology could boost the tax system
How blockchain technology could boost the tax system
Blockchain Council
 
Fresher Start Learning About Quorum
 Fresher Start Learning About Quorum  Fresher Start Learning About Quorum
Fresher Start Learning About Quorum
Blockchain Council
 
How to become a hyperledger expert
How to become a hyperledger expert  How to become a hyperledger expert
How to become a hyperledger expert
Blockchain Council
 
Blockchain as a service and demand
Blockchain as a service and demandBlockchain as a service and demand
Blockchain as a service and demand
Blockchain Council
 
Who Can Do A Blockchain Course?
Who Can Do A Blockchain Course?Who Can Do A Blockchain Course?
Who Can Do A Blockchain Course?
Blockchain Council
 
Importance of blockchain in the food supply chain and agriculture
Importance of blockchain in the food supply chain and agriculture Importance of blockchain in the food supply chain and agriculture
Importance of blockchain in the food supply chain and agriculture
Blockchain Council
 
What Is A Smart Contract, And How Does It Work
What Is A Smart Contract, And How Does It Work What Is A Smart Contract, And How Does It Work
What Is A Smart Contract, And How Does It Work
Blockchain Council
 

More from Blockchain Council (20)

An introduction to the EOS in Blockchain and Crypto
An introduction to the EOS in Blockchain and CryptoAn introduction to the EOS in Blockchain and Crypto
An introduction to the EOS in Blockchain and Crypto
 
How will blockchain change the economy
How will blockchain change the economyHow will blockchain change the economy
How will blockchain change the economy
 
How will ethereum change the world
How will ethereum change the world How will ethereum change the world
How will ethereum change the world
 
How blockchain can fix tax issues
How blockchain can fix tax issuesHow blockchain can fix tax issues
How blockchain can fix tax issues
 
How a newbie can start learning cryptocurrency trading
How a newbie can start learning cryptocurrency trading How a newbie can start learning cryptocurrency trading
How a newbie can start learning cryptocurrency trading
 
Blockchain will bring a radical rethink of banking
Blockchain will bring a radical rethink of bankingBlockchain will bring a radical rethink of banking
Blockchain will bring a radical rethink of banking
 
How does hyperledger fabric blockchain work
How does hyperledger fabric blockchain work How does hyperledger fabric blockchain work
How does hyperledger fabric blockchain work
 
Role of hyperledger fabric in blockchain
Role of hyperledger fabric in blockchainRole of hyperledger fabric in blockchain
Role of hyperledger fabric in blockchain
 
All You Need To Know About Transactions in Blockchain
All You Need To Know About Transactions in BlockchainAll You Need To Know About Transactions in Blockchain
All You Need To Know About Transactions in Blockchain
 
Use of blockchain in telecom and media industry
Use of blockchain in telecom and media industryUse of blockchain in telecom and media industry
Use of blockchain in telecom and media industry
 
Top 5 real world applications of blockchain
Top 5 real world applications of blockchain Top 5 real world applications of blockchain
Top 5 real world applications of blockchain
 
Top 5 Blockchain Platforms To Watch For In 2021
Top 5 Blockchain Platforms To Watch For In 2021Top 5 Blockchain Platforms To Watch For In 2021
Top 5 Blockchain Platforms To Watch For In 2021
 
Blockchain Programming Skills For New Developers
Blockchain Programming Skills For New DevelopersBlockchain Programming Skills For New Developers
Blockchain Programming Skills For New Developers
 
How blockchain technology could boost the tax system
How blockchain technology could boost the tax systemHow blockchain technology could boost the tax system
How blockchain technology could boost the tax system
 
Fresher Start Learning About Quorum
 Fresher Start Learning About Quorum  Fresher Start Learning About Quorum
Fresher Start Learning About Quorum
 
How to become a hyperledger expert
How to become a hyperledger expert  How to become a hyperledger expert
How to become a hyperledger expert
 
Blockchain as a service and demand
Blockchain as a service and demandBlockchain as a service and demand
Blockchain as a service and demand
 
Who Can Do A Blockchain Course?
Who Can Do A Blockchain Course?Who Can Do A Blockchain Course?
Who Can Do A Blockchain Course?
 
Importance of blockchain in the food supply chain and agriculture
Importance of blockchain in the food supply chain and agriculture Importance of blockchain in the food supply chain and agriculture
Importance of blockchain in the food supply chain and agriculture
 
What Is A Smart Contract, And How Does It Work
What Is A Smart Contract, And How Does It Work What Is A Smart Contract, And How Does It Work
What Is A Smart Contract, And How Does It Work
 

Recently uploaded

From Daily Decisions to Bottom Line: Connecting Product Work to Revenue by VP...
From Daily Decisions to Bottom Line: Connecting Product Work to Revenue by VP...From Daily Decisions to Bottom Line: Connecting Product Work to Revenue by VP...
From Daily Decisions to Bottom Line: Connecting Product Work to Revenue by VP...
Product School
 
FIDO Alliance Osaka Seminar: Passkeys and the Road Ahead.pdf
FIDO Alliance Osaka Seminar: Passkeys and the Road Ahead.pdfFIDO Alliance Osaka Seminar: Passkeys and the Road Ahead.pdf
FIDO Alliance Osaka Seminar: Passkeys and the Road Ahead.pdf
FIDO Alliance
 
FIDO Alliance Osaka Seminar: The WebAuthn API and Discoverable Credentials.pdf
FIDO Alliance Osaka Seminar: The WebAuthn API and Discoverable Credentials.pdfFIDO Alliance Osaka Seminar: The WebAuthn API and Discoverable Credentials.pdf
FIDO Alliance Osaka Seminar: The WebAuthn API and Discoverable Credentials.pdf
FIDO Alliance
 
Essentials of Automations: Optimizing FME Workflows with Parameters
Essentials of Automations: Optimizing FME Workflows with ParametersEssentials of Automations: Optimizing FME Workflows with Parameters
Essentials of Automations: Optimizing FME Workflows with Parameters
Safe Software
 
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...
Jeffrey Haguewood
 
Designing Great Products: The Power of Design and Leadership by Chief Designe...
Designing Great Products: The Power of Design and Leadership by Chief Designe...Designing Great Products: The Power of Design and Leadership by Chief Designe...
Designing Great Products: The Power of Design and Leadership by Chief Designe...
Product School
 
To Graph or Not to Graph Knowledge Graph Architectures and LLMs
To Graph or Not to Graph Knowledge Graph Architectures and LLMsTo Graph or Not to Graph Knowledge Graph Architectures and LLMs
To Graph or Not to Graph Knowledge Graph Architectures and LLMs
Paul Groth
 
AI for Every Business: Unlocking Your Product's Universal Potential by VP of ...
AI for Every Business: Unlocking Your Product's Universal Potential by VP of ...AI for Every Business: Unlocking Your Product's Universal Potential by VP of ...
AI for Every Business: Unlocking Your Product's Universal Potential by VP of ...
Product School
 
Securing your Kubernetes cluster_ a step-by-step guide to success !
Securing your Kubernetes cluster_ a step-by-step guide to success !Securing your Kubernetes cluster_ a step-by-step guide to success !
Securing your Kubernetes cluster_ a step-by-step guide to success !
KatiaHIMEUR1
 
How world-class product teams are winning in the AI era by CEO and Founder, P...
How world-class product teams are winning in the AI era by CEO and Founder, P...How world-class product teams are winning in the AI era by CEO and Founder, P...
How world-class product teams are winning in the AI era by CEO and Founder, P...
Product School
 
Connector Corner: Automate dynamic content and events by pushing a button
Connector Corner: Automate dynamic content and events by pushing a buttonConnector Corner: Automate dynamic content and events by pushing a button
Connector Corner: Automate dynamic content and events by pushing a button
DianaGray10
 
State of ICS and IoT Cyber Threat Landscape Report 2024 preview
State of ICS and IoT Cyber Threat Landscape Report 2024 previewState of ICS and IoT Cyber Threat Landscape Report 2024 preview
State of ICS and IoT Cyber Threat Landscape Report 2024 preview
Prayukth K V
 
When stars align: studies in data quality, knowledge graphs, and machine lear...
When stars align: studies in data quality, knowledge graphs, and machine lear...When stars align: studies in data quality, knowledge graphs, and machine lear...
When stars align: studies in data quality, knowledge graphs, and machine lear...
Elena Simperl
 
Empowering NextGen Mobility via Large Action Model Infrastructure (LAMI): pav...
Empowering NextGen Mobility via Large Action Model Infrastructure (LAMI): pav...Empowering NextGen Mobility via Large Action Model Infrastructure (LAMI): pav...
Empowering NextGen Mobility via Large Action Model Infrastructure (LAMI): pav...
Thierry Lestable
 
The Future of Platform Engineering
The Future of Platform EngineeringThe Future of Platform Engineering
The Future of Platform Engineering
Jemma Hussein Allen
 
PCI PIN Basics Webinar from the Controlcase Team
PCI PIN Basics Webinar from the Controlcase TeamPCI PIN Basics Webinar from the Controlcase Team
PCI PIN Basics Webinar from the Controlcase Team
ControlCase
 
De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...
De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...
De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...
Product School
 
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...
Ramesh Iyer
 
The Art of the Pitch: WordPress Relationships and Sales
The Art of the Pitch: WordPress Relationships and SalesThe Art of the Pitch: WordPress Relationships and Sales
The Art of the Pitch: WordPress Relationships and Sales
Laura Byrne
 
Leading Change strategies and insights for effective change management pdf 1.pdf
Leading Change strategies and insights for effective change management pdf 1.pdfLeading Change strategies and insights for effective change management pdf 1.pdf
Leading Change strategies and insights for effective change management pdf 1.pdf
OnBoard
 

Recently uploaded (20)

From Daily Decisions to Bottom Line: Connecting Product Work to Revenue by VP...
From Daily Decisions to Bottom Line: Connecting Product Work to Revenue by VP...From Daily Decisions to Bottom Line: Connecting Product Work to Revenue by VP...
From Daily Decisions to Bottom Line: Connecting Product Work to Revenue by VP...
 
FIDO Alliance Osaka Seminar: Passkeys and the Road Ahead.pdf
FIDO Alliance Osaka Seminar: Passkeys and the Road Ahead.pdfFIDO Alliance Osaka Seminar: Passkeys and the Road Ahead.pdf
FIDO Alliance Osaka Seminar: Passkeys and the Road Ahead.pdf
 
FIDO Alliance Osaka Seminar: The WebAuthn API and Discoverable Credentials.pdf
FIDO Alliance Osaka Seminar: The WebAuthn API and Discoverable Credentials.pdfFIDO Alliance Osaka Seminar: The WebAuthn API and Discoverable Credentials.pdf
FIDO Alliance Osaka Seminar: The WebAuthn API and Discoverable Credentials.pdf
 
Essentials of Automations: Optimizing FME Workflows with Parameters
Essentials of Automations: Optimizing FME Workflows with ParametersEssentials of Automations: Optimizing FME Workflows with Parameters
Essentials of Automations: Optimizing FME Workflows with Parameters
 
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...
 
Designing Great Products: The Power of Design and Leadership by Chief Designe...
Designing Great Products: The Power of Design and Leadership by Chief Designe...Designing Great Products: The Power of Design and Leadership by Chief Designe...
Designing Great Products: The Power of Design and Leadership by Chief Designe...
 
To Graph or Not to Graph Knowledge Graph Architectures and LLMs
To Graph or Not to Graph Knowledge Graph Architectures and LLMsTo Graph or Not to Graph Knowledge Graph Architectures and LLMs
To Graph or Not to Graph Knowledge Graph Architectures and LLMs
 
AI for Every Business: Unlocking Your Product's Universal Potential by VP of ...
AI for Every Business: Unlocking Your Product's Universal Potential by VP of ...AI for Every Business: Unlocking Your Product's Universal Potential by VP of ...
AI for Every Business: Unlocking Your Product's Universal Potential by VP of ...
 
Securing your Kubernetes cluster_ a step-by-step guide to success !
Securing your Kubernetes cluster_ a step-by-step guide to success !Securing your Kubernetes cluster_ a step-by-step guide to success !
Securing your Kubernetes cluster_ a step-by-step guide to success !
 
How world-class product teams are winning in the AI era by CEO and Founder, P...
How world-class product teams are winning in the AI era by CEO and Founder, P...How world-class product teams are winning in the AI era by CEO and Founder, P...
How world-class product teams are winning in the AI era by CEO and Founder, P...
 
Connector Corner: Automate dynamic content and events by pushing a button
Connector Corner: Automate dynamic content and events by pushing a buttonConnector Corner: Automate dynamic content and events by pushing a button
Connector Corner: Automate dynamic content and events by pushing a button
 
State of ICS and IoT Cyber Threat Landscape Report 2024 preview
State of ICS and IoT Cyber Threat Landscape Report 2024 previewState of ICS and IoT Cyber Threat Landscape Report 2024 preview
State of ICS and IoT Cyber Threat Landscape Report 2024 preview
 
When stars align: studies in data quality, knowledge graphs, and machine lear...
When stars align: studies in data quality, knowledge graphs, and machine lear...When stars align: studies in data quality, knowledge graphs, and machine lear...
When stars align: studies in data quality, knowledge graphs, and machine lear...
 
Empowering NextGen Mobility via Large Action Model Infrastructure (LAMI): pav...
Empowering NextGen Mobility via Large Action Model Infrastructure (LAMI): pav...Empowering NextGen Mobility via Large Action Model Infrastructure (LAMI): pav...
Empowering NextGen Mobility via Large Action Model Infrastructure (LAMI): pav...
 
The Future of Platform Engineering
The Future of Platform EngineeringThe Future of Platform Engineering
The Future of Platform Engineering
 
PCI PIN Basics Webinar from the Controlcase Team
PCI PIN Basics Webinar from the Controlcase TeamPCI PIN Basics Webinar from the Controlcase Team
PCI PIN Basics Webinar from the Controlcase Team
 
De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...
De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...
De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...
 
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...
 
The Art of the Pitch: WordPress Relationships and Sales
The Art of the Pitch: WordPress Relationships and SalesThe Art of the Pitch: WordPress Relationships and Sales
The Art of the Pitch: WordPress Relationships and Sales
 
Leading Change strategies and insights for effective change management pdf 1.pdf
Leading Change strategies and insights for effective change management pdf 1.pdfLeading Change strategies and insights for effective change management pdf 1.pdf
Leading Change strategies and insights for effective change management pdf 1.pdf
 

5 companies using blockchain to revolutionize insurance

  • 1. Copyright © Blockchain Council www.blockchain-council.org 1
  • 2. Copyright © Blockchain Council www.blockchain-council.org 5 Companies Using Blockchain To Revolutionize Insurance Blockchain is one of the most groundbreaking innovations, paving the way for transformational changes in a number of industries. The emphasis of this blog will be on the insurance industry, which is one of the many industries that can benefit from Blockchain. Time and resources are spent on lawsuit settlement, KYCs, paperwork, and other problems. We would expect the insurance industry to become more competitive as a result of Blockchain. 2
  • 3. Copyright © Blockchain Council www.blockchain-council.org Different areas which need attention: Before we look at how Blockchain can benefit the insurance industry and the companies that are currently operating in this field, let's look at some of the issues: 1. Claim management- Claims management is the first field that requires focus. We can automate claim submission processes with the aid of Blockchain, enabling claim management to move at a faster rate. 2. Peer-to-peer insurance- We all know that Blockchain works on peer-to-peer networking. And this feature of Blockchain can prove useful in the insurance segment as well. With the help of Blockchain, one gets instant payment in case of the insurance demand event surges. 3
  • 4. Copyright © Blockchain Council www.blockchain-council.org 3. Reinsurance – Insurance firms can directly obtain real-time data from insurers using Blockchain. As a result, the operating costs are reduced. 4. Fraud Detection & Risk Reduction – Fraud and risk detection are two important fields that must be tackled. With the support of Blockchain, arguments can be made that are far more trustworthy. It also gives the policyholder the option of paying a higher premium. 4
  • 5. Copyright © Blockchain Council www.blockchain-council.org Companies that are actively leveraging Blockchain technology in the insurance sector: ● Black – This organisation is trying to create a decentralised crowdfunding market. Black is a digital insurance firm that specialises in Blockchain-based insurance solutions. ● B3i – Companies like B3i are using the Blockchain platform to provide insurance solutions. ● Immediate – One of the most important aspects of Blockchain technology is smart contracts. It enables the automatic execution of contracts, allowing for faster payment. Immediate is a blockchain-based business that uses the Zilliqa platform. It is attempting to make policies more transparent through the use of smart contracts. 5
  • 6. Copyright © Blockchain Council www.blockchain-council.org ● Lemonade – This is yet another startup that provides homeowners and landlords with AI and Blockchain-based insurance solutions. ● Tierion – When it comes to Blockchain, the aim is to make things simpler and quicker, and Tierion operates in the same direction. It double-checks the information, files, and processes. The industry is being transformed by blockchain-based solutions. Whether it's the insurance industry or another, every industry requires technical assistance to speed up and develop its processes. 6
  • 7. Copyright © Blockchain Council www.blockchain-council.org Blockchain developers are moving in the same direction. They are working to develop the most reliable blockchain-based solutions possible. We will see an increase in the market for Blockchain professionals in the coming years. If you want to advance your career, becoming familiar with the Blockchain technology is important. To learn more about the different Blockchain certification programmes and Blockchain training, contact the Blockchain Council. 7
  • 8. Copyright © Blockchain Council www.blockchain-council.org Conclusion- The insurance industry's smooth operation is hindered by organisational inefficiencies such as unnecessary paperwork, lengthy claim payments, and the possibility of becoming a victim of fraud. All of these complexities can be easily solved with the aid of Blockchain. It simplifies and expedites claim resolution while also maintaining data protection and automating the process. 8
  • 9. Copyright © Blockchain Council www.blockchain-council.org Blockchain Council Certifications You can check out our certifications, and kick start your career in the Blockchain space today. ● Certified Blockchain Expert ● Certified Blockchain Developer ● Certified Smart Contract Developer ● Certified Solidity Developer ● Certified Ethereum Developer 9
  • 10. THANK YOU! Any questions? You can mail us at hello@blockchain-council.org Copyright © Blockchain Council www.blockchain-council.org 10