Archive | insurance

Umbrella Coin Aims to Change the Insurance Industry

It is exciting to hear about cryptocurrency projects disrupting the status quo in many industries and helping consumers save money. One such industry that could use some shaking up is insurance. A project called Umbrella Coin is looking to change the way consumers think about insurance claims. Its goal is to democratize the whole process and provide policyholders with benefits when […]

Indian Insurance Company Bajaj Allianz Speeds up Claims Process with Blockchain Tech

Bajaj Allianz General Insurance, an Indian insurance major, has announced a successful implementation of blockchain technology into its operations. The new solution, targeting its travel and motor insurance products will speed up the claims settlement process. The announcement by Bajaj Allianz, a collaborative initiative between Indian auto major and German Insurance giant, comes weeks after […]

Japanese Merchants Might Soon Get Insurance Against Failed Bitcoin Transactions

Bitcoin has gained the status of a mainstream currency in Japan. The growth in adoption of a new mode of payment comes with its own set of challenges due to the decentralized nature of the cryptocurrency. Merchants including Bitcoin as a method of payment are a bit apprehensive about possible failed transactions which might force […]

AIG Issues Its First Insurance Policy on Blockchain

AIG, the multinational insurance provider, has announced its first blockchain based insurance policy, that was issued to UK’s Standard Chartered Bank. The blockchain policy termed the “master policy” governs multiple policies for the bank’s operations in various countries. The insurance sector has found that blockchain technology can offer them loads of benefits at a fraction […]