A new era for the
Today’s insurance industry still relies heavily on yesterday’s paper-based processes. But, while these processes work, they also lead to significant levels of human error and fraud. The implementation of blockchain technology would not merely remove these problems at source, but open the door to value-generating opportunities like index-based and P2P offerings.
The use of blockchain will help the insurance industry to cut acquisition, management, documentation and compliance costs, while also lowering the barriers to market entry, particularly in developing countries. But the historical lack of standards in the blockchain arena, coupled with its siloed nature, has led to a widespread lack of consistency in blockchain platforms. Without a solution to interoperability, the insurance industry will not benefit from one of the most powerful technologies to emerge in recent years.
Quant technology delivers the true and universal interoperability required for the insurance industry to fully realise the benefits of blockchain technology. We are currently working with a multinational IT services provider on a proof-of-concept project which could mark the beginning of a new era for the world of insurance.
Our solutions for insurance are built using our patent-pending products:
Explore the future
Blockchain could completely transform the insurance industry. Find out why.
Built for enterprises
Led by an experienced team from large corporate, financial and regulatory institutions, we enable existing financial infrastructure to operate with new decentralised networks.