At Sofocle, we’re proud to introduce you to Insurra, our specifically designed solution for all things blockchain that aids insurance processes with the help of a dedicated mobile app, AI, and Smart Contracts. Of course, Insurra has been designed keeping in mind the weak areas of the insurance industry. Therefore, our main aim with Insurra is to minimize paperwork by allowing the insured to upload the documents via a mobile app.
Insurra has been made to intelligently craft a Smart Contract of the insurance agreement made between the insurer and the insured. The Smart Contract is then coded to be executed autonomously if, say, the specified condition(s) are met, which in the case of a claim are the occurrence of pre-defined events and automated verification of the claim. With Insurra, an insurer can drastically reduce the operational cost involved in collecting & storing documents and processing claims. The insurance company can easily differentiate itself from its competitors by offering an autonomous claim payout system.
After all, Blockchain for insurance industry is very crucial for the insurance companies as it allows these firms to better serve the market by saving time, cutting costs, and comply with stringent regulations. There are numerous benefits of implementing Blockchain in insurance sector for the said companies in order for them to operate in a highly competitive market. One can expect to sustain the most examined value for money proposition with Blockchain in insurance industry thanks to the most superior online experience. And this can all be done courtesy of our intelligently crafted Insurra.
Since Insurra is based on Blockchain technology
There is no central/third party authentication required, the solution itself validates the uploaded information against the Smart Contract.
Smart Contracts once created, can’t be altered.
All the details are securely stored and can be referred anytime in the future.