Consumers demand greater convenience and product customization. Learn how Kaleido’s Blockchain Business Cloud can help the insurance industry digitize legacy processes.
Imagine a database where every driver's policy information is immutable. When an accident occurs, a police report updates this database, repair estimates follow, and payments are automated. This reduces paperwork and simplifies processes—a future within reach for insurance.
Blockchain disrupts insurance with modern practices and faster settlements demanded by customers in today's business climate.
Traditionally, the insurance industry has been slow to change. Paperwork, phone calls, and a hassle to get claims approved met the consumer each time an event occurred. But consumers are demanding more convenience from an industry they have to interact with out of necessity. And insurance companies need to adapt.
Blockchain technology is a way for companies to eliminate overhead, automate claim processing and payments, and protect data. It is also a way for consumers to cut insurance companies out of the industry altogether, forming contract-bound communities that add funds to a pool and extract money when the group approves a claim.
Learn why companies ranging from large global institutions to cutting-edge start-ups have chosen Kaleido as the #1 asset tokenization and blockchain as a service provider.
