Blockchain In Insurance

Drive Fourth Industrial Revolution in Insurance with Blockchain

"Blockchain offers an emerging opportunity for insurance companies to rethink the way they approach digital product development, customer engagement and risk management." - Gartner

Undesirable Challenges in the Insurance Industry

Health and life insurers need to improve the way they manage records, interact with stakeholders and execute transactions. Blockchain’s unique attributes can enable insurers to manage risk, cut costs, improve customer experience, expand their business, and, ultimately, support the bottom line

A Lack of Transparency

Questionable Marketing Tactics

Incentivization for Denying Claims

Complicated Product Offerings

Insurance Fraud

Complicated, Discouraging Claims Processes

Encouraging the Purchase of Unsuitable Products

Shaping the Future of Financial Service Infrastructure

Reinsurance
Copyright Management
Capital Markets
Innovative Products
Claims Handling
Customer Identity and AML
Underwriting
Distribution

Transforming the Financial Landscape with Blockchain

DLT holds the potential for streamlining, modernizing, and enhancing the siloed infrastructure of the Insurance industry using a shared fabric of common information. Let’s see what it does:

Simplifies Operations

Cuts down on human activities required to run reconciliation and fix disputes

Improves Efficiency

Enables real-time tracking for regulators of financial activities of entities

Reduces Counterparty Risk

No need to trust counterparties with for insurance process with smart contracts

Reduces Settlement Times

Fast and secure clearing and settlement times with smart contract-based solutions

Improvises Liquidity

Lowered locked-in capital and transparency into liquidity sourcing for assets

Minimizes Fraud

Complete transaction history and asset provenance from a single source of truth

Why Oodles For Blockchain Based Insurance Solutions

Oodles Blockchain is a branch of Oodles Technologies, which has set out to explore the potential of using Distributed Ledger Technologies within the insurance industry for assisting all stakeholders in the value chain.
We offer effective insurance solutions by developing them on a blockchain platform that’s most suited to provide better outcomes and opportunities for efficiency, growth and quality over the value chain to bring advantages to all participants including end customers. We wish to provide the insurance sector the medium to grow its community of shareholders, partners and customers and form an ecosystem of insurance services and products designed “by the market, for the market.”