Blockchain For Insurance Debuted By India’s Bajaj Allianz

A new Blockchain implementation for the insurance industry has hit India as Bajaj Allianz deploys two products aimed at travelers and motorists.

As local news publication Business Line reported last week, Bajaj, which is part of the global Allianz empire, is using Blockchain technology to reduce claim turnaround times drastically.

“This is helping us to bring down the current settlement turnaround time for some plans from days to minutes,” the company’s head of IT, web sales and digital marketing Sourabh Chatterjee explained.

Blockchain has been making increasing inroads into both the insurance sector and Allianz’s business strategy.

Full story at http://bit.ly/2uIEWmo

Source: CoinTelegraph

 

 

 

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