If you were wondering what Blockchain is all about, at least as it relates to the insurance industry this article from Baker McKenzie thought leaders Huhnsik Chung and Nicholas Secura explores how blockchain could benefit the insurance industry. Fraud is estimated at over $40 billion for non-health insurers – that’s where the property and casualty insurance focus of Chartwell is. What does Blockchain promise the insurance industry? Claims reporting could be streamlined. Personal data could be encrypted and redundancies will facilitate the transfer of information in applications and renewals. Read more here.
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