Blocksure Looks to Help The Insurance Industry With Blockchain
Meet Blocksure OS:
Think: detailed insurance knowledge meets blockchain to replace multiple data transfer systems with a single platform, hence lowering costs of distribution. In other words, Blocksure has developed the idea of a smart insurance policy, which is an insurance policy delivered via a SMART contract. SMART because of the key elements of a smart policy:
See-through. As in ‘transparent’. The smart contract is transparent to all parties involved and cannot be modified.
Multifaceted. A smart contract can offer different views to different personas since different people may be interacting with the contract.
Authoritative. Ideally, there’s one implementation in the code of the agreement, which is authoritative = unique, identifiable and generally unalterable.
Real-Time. Code and data are shared and verified by all participants in the blockchain in real-time.
Last, at one point Blocksure CTO Joseph Goulden shared his views on the opportunities of blockchain for insurers:
Bottom Line: a proof of concept insurance operating system built on blockchain technology that is relevant for insurers or intermediaries that look to enhance their sales or claims process.