Risto and InvestorIdeas discuss the big players testing blockchain in insurance and how their Board member, Bundeep Singh Rangar from Fineqia is adding value, expertise and "blockchain based policy administration."
"Globally, it is estimated, insurance companies lose over USD 80 billion to frauds every year. Blockchain is one-stop solution to reduce/combat frauds related to insurance and financial sectors. Traditionally, insurers have been relying upon physical processes to authenticate claim information related to ownership, history item, and authenticity of the product."
The management team at Fineqia International and Black Insurance discuss their vision of being part of the insurance revolution implementing blockchain.
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