Currently, the insurance process is very manual...
There are plenty of opportunities to jumble paperwork and loose details in typos and translations.
Information was difficult to keep track of and multiple verification points were always needed.
The customer data and updated information become a process in its own right.
Has everything been reported correctly ?
Have I updated my address ?
With Hyperledger these companies can share information that is always valid and up to date.
This streamlines the overall process.
The Story of Allianz Global Corporate & Speciality (AGCS)
This company found that insurance and settlements can be significantly accelerated and simplified...
Details of this company's journey into Blockchain can be found in the following article:
Allianz Prototypes Blockchain For Global Self-Insurance Client
https://www.forbes.com/sites/tomgroenfeldt/2017/11/14/allianz-prototypes-blockchain-for-global-self-insurance-client/#70e3e6cb78e6
Peace & Prosperity,
Native