Smart Contracts
How a Blockchain works
Blockchain is a new technology for verifying data transactions. It is a way of securing data by breaking it down into chains of blocks to allow many functions of centrally organized information systems to be decentralized. Blockchains can be used anywhere information needs to be securely managed and verified. Blockchain technology is based on a...
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Business Case C2C Insurance
Blockchain means that intermediaries can be eliminated. Intermediates / Third parties can be done away with to the greatest extent in a customer-to-customer insurance company. Due to increasing municipal debt and cautious investment policies, citizens of the city of Herford, one of the deeply indebted communes within the region of Eastern Westphalia-Lippe , decide to...
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Business Case B2C Insurance
A British fittings manufacturer changed its strategy in 2005 so that it would be able to supply products to the international market at lower cost, and has been the global market leader in the premium fittings sector for years. Currently, the company handles bricks-and-mortar sales via a network of retailers comprised of wholesalers and property...
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Blockchain disrupts reinsurance markets
Benefits of Blockchain Technology: Decentralized consensus formation without intermediaries. The trust is placed in the network and the Blockchain technology and not so much in individual participants or transaction partners. Lower costs for operators will also have a positive effect on the transaction fees. Transparent costs and the further development of the technology through open...
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