Allianz will use blockchain to optimize insurance payments

The benefits of blockchain for the insurance industry

One of the largest insurance companies in the world, Allianz SE, is developing a token-based blockchain system for its corporate clients that will help optimize cross-border payments.

The international holding expects that the future ecosystem will make it easy to make transparent and instant money transfers for various types of insurance payments.

Allianz will use blockchain to optimize insurance payments

Allianz said the project is still in the experimental stage, but the basic infrastructure has already been formed and tested. Next, the company plans to work out a mechanism for making electronic transfers using tokens in a limited amount and within a short period of time to confirm the hypothesis..

Previously, the management of the insurance company did not hide their skepticism about cryptocurrencies, but studied the potential of their use in their business..

The world’s largest companies continue to integrate blockchain into various areas of their activities. Amazon recently announced that it plans to use the technology to host and control ad data, and Commerzbank has developed a blockchain solution to automate payments. unmanned vehicles.

text: Ivan Malichenko, photo: s3wfg

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