Insurance Sector Disruption Using Blockchain Technology Training Ppt
This set of slides provides information about the benefits of blockchain technology in the insurance sector,such as increased efficiency,improved trust,automated claim processing,and smart contracts.
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Slide 1
This slide illustrates an overview of insurance as a blockchain application in financial systems and the current problem faced by the insurance sector. Insurance can be done via blockchain accounts using Ethereum smart contracts and decentralized apps, offering increased automation and tamper-proof audit trails. The inexpensive nature of smart contracts and associated transactions means that many items may be made more competitive in underdeveloped markets in developing countries.
Slide 2
This slide lists advantages of blockchain application in the financial system under the insurance sector.
Instructor Notes:
- Increases efficiency: Many operations in the insurance industry are manual and time-consuming, blockchain can help simplify paperwork and reconciliation
- Improves trust: Blockchain cryptography guarantees that transactions are safe, verified, and verifiable while protecting client privacy
- Automated claim processing: Blockchain provides real-time data gathering and analysis, it can significantly accelerate claim processing and reimbursements
- Smart contracts: These programmable contracts include logic executed automatically when certain circumstances are satisfied
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