Benefits of Applying Blockchain to Claim Processing in Insurance
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The document discusses the benefits of using blockchain technology in insurance claim processing, highlighting reduced turnaround times, enhanced security, and decreased fraudulent claims. It emphasizes features such as real-time integration, audit history, and scalability while mentioning the advantages of smart contracts. Overall, it presents blockchain as a modern solution for managing trust in the insurance industry.
Benefits of Applying Blockchain to Claim Processing in Insurance
- 1. Benefits of Applying Blockchain to Claim Processing in Insurance
- 2. Processing Claims in Insurance Reduced TAT Redundunt and secure data No inconvenience to beneficiary Reduction of fraudulent claims processing requests Enhanced scalability No single point of failure Real time integration Audit history available Consensus based trust Global and local reach
- 3. BlockChain is a new Way of Managing Trust