RATE Group | Ethereum Blockchain Being Used to Help Hurricane Victims with Insurance Payouts
42124
wp-singular,post-template-default,single,single-post,postid-42124,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum Blockchain Being Used to Help Hurricane Victims with Insurance Payouts

12 Sep Ethereum Blockchain Being Used to Help Hurricane Victims with Insurance Payouts

Posted at 22:51h in Ethereum News by

[ad_1]

Between Harvey, Irma, Maria, and now Florence, the United States has seen an unprecedented amount of disastrous natural disasters that have devastated communities and have left billions of dollars’ worth of damages in their wake. Ethereum’s blockchain is now potentially being used to solved many of the resulting problems.

The sheer number of insurance requests to cover things like damaged or lost homes and cars has posed a huge issue for the insurance industry, as they have to rapidly approve requests for funds in order to replace or repair any home/auto damages caused by the hurricanes. It now appears that the industry is turning to blockchain technology in order to increase their efficiency.

Using Blockchain is the Next Step for the Insurance Industry

The current process of approving the vast quantity of requests that come following a natural disaster is quite complicated and starts with a team of adjusters and agents working to filter out fraudulent requests from people trying…

[ad_2]

Source link