Blockchain for Insurance: From Preventing Fraud to Automating Claims
Published in
1 min readApr 16, 2019
Insurance is exposed to a variety of fraudulent schemes: from sharing an insurance plan after divorce to withholding critical information that may influence risk assessment. In this regard, blockchain can address some of the pain points found in the insurance industry. This study explains how the technology helps to improve security, mitigate fraud, automate record sharing between organizations, and cut operational costs. Finally, the paper covers some technical aspects of implementation and highlights scenarios where blockchain fits best.
