On the "release ceremony," the insurance industry chain block application of technology standards development work started and the "block chain Insurance Application White Paper" (hereinafter referred to as the "White Paper)" held recently, the insurance risk control block chain platform was officially launched, 14 Insurance company announced it has joined the alliance chain platform. At the same time, the construction of "Technical Standards for the Application of Blockchain in the Insurance Industry" was launched on the same day, with 109 industry organizations participating, responding and actively supporting the formulation of the standard.
This means that the block chain technology will speed up the application of the insurance industry, richer application scenarios, the industry is also looking forward to more of the ground application of the results.
Insurance risk control chain
Let overlapping insurance to escape detection
"Block chain and the insurance industry have a natural fit sex." "White Paper" that the insurance industry is an important area to explore block chain applications, and insurance "law of large numbers" collective consensus and block chain has a "genetic similarity "Therefore, the insurance industry is likely to become one of the industry take the lead block chain-scale applications.
From the perspective of the research and development of the underlying technology of the blockchain, the Shanghai Stock Exchange officially released the underlying technology platform and white paper of the Baojiao Chain in 2017, and iteratively completed the second-generation low-tech platform of the Baojiao Chain in 2018 and passed the evaluation and certification of the Ministry of Industry and Information Technology; In terms of industrial application scenarios of the chain, the China Stock Exchange and insurance industry institutions have cooperated to explore and launch 10 insurance application scenarios to serve dozens of insurance industries and their upstream and downstream institutions in the industry chain.
At the same time, the construction of an insurance risk control blockchain platform was officially launched recently. PICC P & C, CPIC P & C, Ping An Insurance, Land P & C, China United Insurance, Anda P & C, Mitsui Sumitomo, Shidai P & C, AXA Insurance A total of 14 insurance companies, Sunshine Property & Casualty Insurance, Huatai Property & Casualty Insurance, Yongcheng Property & Casualty Insurance, Dubang Property & Casualty Insurance, and Huaan Property & Casualty Insurance formally announced their joining the platform.
It is worth noting that this blockchain platform is an alliance chain platform. The alliance chain is between the public and private chains, which can achieve "weak centralization" or "multi-centralization". Compared to the public chain, chain alliance has certain barriers to entry, and each node and corporate entities or institutions and organizations in the chain correspond, jointly managed by the authorized enterprises or institutions, authorized by the node to join Network . The chain block generated by the accounting authority decided by consensus nodes, nodes can participate in other non-trade consensus, but without consensus.
Insurance risk control block chain platform to the insurance fraud exists travel insurance field as the starting point, aims to data sharing way, find duplicate the behavior of the insured in the insurance underwriting stage, providing more dimensions insurance risk control information for the agency to improve anti-fraud agency level, reflecting the market value of the property insured risk control information.
Insurance risk control is exactly one of the major scenarios in which the blockchain is used in the insurance industry. According to the "White Paper", the block chain in at least 11 areas with the insurance industry has a huge application scenarios, including reinsurance, pension management, insurance risk control, health care, integration, digital policy, agricultural insurance traceability, insurance alternative asset management, field digital external trade, cross-border trade insurance and mutual insurance. In these areas, currently there are many pain points, you can find a better solution through the application of the block chain technology.
The insurance industry to promote resolved
Application scene landing
Although the blockchain and the insurance industry have a natural fit, at present there are not many application scenarios, and there are still problems such as inconsistent standards and insufficient integration in actual operation. To this end, the insurance industry is also advancing resolved.
There is lack of standards and norms for the application of the current block chain-scale use, the application mode dispersion and other issues, the Shanghai Insurance Exchange, a joint Chinese Academy of ICT "Trusted block chain promotion plan" and insurance institutions to jointly carry out the "insurance industry zone the ability to block chain applied technology community standards "formulation to enhance the industry chain technology development and application of the block, there are 109 industry bodies involved, respond to and actively support the development of standards.
The standards will make efforts to solve three problems, one unified industry standard applications, reducing the friction between the different technology companies, different application scenarios, promote cooperation and consensus among insurance companies, improve the overall operating efficiency of the insurance industry; the second is clearly accelerate industrial applications the main direction, push the block chain technology breakthrough, promote innovation and development of the industry, an effective solution to redundant construction, standards are not uniform and other problems; third is to lay a solid foundation block innovation chain, set power industry to promote the chain block application of technical standards the breakthrough that could create a chain block for the insurance industry and technology integration development of open, fair, safe and efficient environment for innovation, and expand the scale application for the scene to inject new momentum.
McKinsey research report shows that the insurance industry in various industries block chain application scenarios accounted for 22%, ranking first. Boston Consulting study shows that the depth of the block chain will use the global property insurance company's operating costs reduced by 5% to 13%. PricewaterhouseCoopers study results show that if more insurance industry uses block chain technology, most of the processes are automated, can help avoid duplication of data input, reducing human error, saving labor costs for reinsurance companies save 15% -20% Operating cost.
There is no doubt that with the integration of application acceleration technology floor, gradually unified standards, block chain technology and insurance industry will be deeper, industry to bring technology to the deep-seated changes will become more apparent.