保险公司区块链应用研究,保险公司区块链应用领域

Ⅰ What are the practical applications of blockchain technology

1. Financial field

The application of blockchain in international exchange, letters of credit, and stock rights Financial fields such as registration and stock exchanges have potentially huge application value.

2. Internet of Things and Logistics Fields

Blockchain can also be naturally combined in the Internet of Things and logistics fields.

Through blockchain, logistics costs can be reduced, the production and delivery process of items can be traced, and the efficiency of supply chain management can be improved.

3. Public service fields

Blockchain is closely related to people’s production and life in public management, energy, transportation and other fields, but the centralization of these fields Characteristics also bring some problems, which can be transformed using blockchain.

4. Digital copyright field

Through blockchain technology, works can be authenticated, prove the existence of text, video, audio and other works, and ensure the authenticity and uniqueness of ownership. sex.

5. Insurance field

In terms of insurance claims, insurance institutions are responsible for fund collection, investment, and claims settlement, and often have high management and operating costs. Through the application of smart contracts, there is no need for the policy holder to apply or the insurance company to approve it. As long as the claim settlement conditions are triggered, the insurance policy can automatically settle claims.

6. Public Welfare Field

The data stored on the blockchain is highly reliable and cannot be tampered with, so it is naturally suitable for social welfare scenarios.

II Application of blockchain in insurance companies

Although the application of blockchain technology in the insurance industry is mostly in the technical verification stage, the rapid development of application scenarios has already heralded the technology’s It will have a transformative impact on the insurance industry. Some IT giants such as Microsoft, IBM, Oracle, Alibaba, Tencent, etc. have begun to deploy in the field of blockchain, and some have even launched products or services based on blockchain technology.
According to the "In-depth Analysis Report on Business Model Innovation and Investment Opportunities in China's Blockchain Industry" by the Qianzhan Industry Research Institute, the current application of blockchain in the domestic and foreign insurance industry mainly includes the following categories: The first category is the use area Blockchain technology can complete insurance contracts in accordance with established rules when a certain condition is triggered when data is scattered at multiple points, such as flight delay insurance, unemployment insurance, etc.; the second category is in the field of reinsurance and co-insurance. In the transaction matching and settlement of mutual insurance business, blockchain is used to enhance the efficiency and transparency of transactions and settlements; the third category is used to track the production/growth process of commodities, using the traceability characteristics of blockchain for tracking The farming process of agricultural products or the production and circulation of valuables.
In the long run, the application of blockchain in the insurance industry has broad development prospects and numerous business convergence points, and is very likely to bring about revolutionary and disruptive changes.

Extended reading: [Insurance] How to buy, which one is better, and step-by-step instructions to avoid these "pitfalls" of insurance

Ⅲ Blockchain application in the insurance industry

Answer this question alsoLet’s first introduce the core technology of blockchain and the current problems in the insurance industry.
Introduction to the core technology of blockchain
Blockchain mainly solves the trust and security issues of transactions, so it proposes four technological innovations to address this issue:
The first one is called distributed ledger , that is, transaction accounting is completed by multiple nodes distributed in different places, and each node records a complete account, so they can all participate in supervising the legality of the transaction and can also jointly testify for it. Different from traditional centralized accounting solutions, no node can record accounts independently, thus avoiding the possibility of a single accounting person being controlled or bribed to record false accounts. On the other hand, since there are enough accounting nodes, theoretically, the accounts will not be lost unless all nodes are destroyed, thereby ensuring the security of the accounting data.
The second one is called symmetric encryption and authorization technology. The transaction information stored on the blockchain is public, but the account identity information is highly encrypted and can only be accessed with the authorization of the data owner, thus Data security and personal privacy are guaranteed.
The third one is called the consensus mechanism, which is how all accounting nodes reach a consensus to determine the validity of a record. This is both a means of identification and a means of preventing tampering. Blockchain proposes four different consensus mechanisms, which are suitable for different application scenarios and strike a balance between efficiency and security. Taking Bitcoin as an example, it uses proof of work. Only when more than 51% of the accounting nodes in the entire network are controlled, it is possible to forge a non-existent record. When there are enough nodes joining the blockchain, this is basically impossible, thus eliminating the possibility of fraud.
The fourth technical feature is called smart contracts. Smart contracts are based on these trustworthy and non-tamperable data and can automatically execute some predefined rules and terms. Take insurance as an example. If everyone's information (including medical information and risk occurrence information) is true and trustworthy, it will be easy to automate claims settlement in some standardized insurance products.
Policyholder Risk Management
In today's insurance operations, disputes between insurance companies and policyholders often occur. Either the policyholder provides false personal information to defraud the insurance, or the exemption clause is not correct when settling a claim. There are differences in the identification. The key to these problems lies in the lack of an authentic and credible data collection and storage method for the personal information of policyholders.
With the advancement of national systematic projects such as the digitization of medical information and personal credit reporting systems, more and more authoritative data sources appear. If these data can be introduced and stored on the blockchain, it will become Along with each person's digital identity, the data on this is authentic and trustworthy, cannot be tampered with, is synchronized in real time, and is valid for life, which will bring great benefits to the risk management of policyholders.
First, it is to connect the data between different companies and refer to each other, so as to promptly discover information such as repeated insurance and historical claims.information and timely detection of high-risk users.
Second, introducing data from different industries into the blockchain can improve the accuracy and efficiency of underwriting and claims verification. To give an example of critical illness insurance, if all the medical treatment records of the policy holder and even the medical records of immediate family members can be queried on the blockchain, we will have a first-hand understanding of the policy holder’s current physical condition, disease history, and family medical history. information, effectively preventing you from taking out insurance while you are sick.
For example, Tongxinhuzhu, the first network mutual aid platform in China that uses blockchain technology as its core, uses blockchain technology to achieve decentralized information sharing based on traditional mutual aid platforms and innovatively achieve comprehensive and transparent operations. , to build a fair, just, open, safe and efficient open mutual aid information service platform for the public.

Extended reading: [Insurance] How to buy, which one is better, and teach you step by step to avoid these "pitfalls" of insurance

IV Kangbao Coin-KBC: Blockchain technology is needed again What shocking changes will it bring to the insurance industry

KBC

1. What do you think about medical insurance?

However, with the improvement of living standards and the opening of ideas, we have begun to have a new view of this slightly derogatory term, and slowly begun to accept it into our lives. For example: purchase various types of medical insurance on a regular basis, even if you have not been to the hospital for several years.

This is by no means a waste of money, but you are gradually starting to pay attention to your health. Since you are not sure what kind of accidents will happen in the future, you choose to reduce the risk through medical insurance - especially When the cost is acceptable.

The chart below shows statistical data from the World Health Organization and the World Bank, which shows that medical consumption as a whole has been on a fluctuating upward trend in recent years.

Medical consumption (trillions of US dollars)

However, you may also find that the development pace of insurance companies does not seem to keep up with the speed of this era. In this era, more and more attention is paid to In the Internet world of product user experience, you start to get tired of the tedious processes and low processing efficiency when handling insurance business, and you also need to pay a lot of service fees.

You are also beginning to get used to the fact that a lot of your private data is in the hands of insurance companies. After all, you have no idea what they will do with your information, and you even occasionally worry about some small insurance companies. Will he suddenly go bankrupt or even run away?

So is there a better option?

2. Mutual Aid Community - an optimized version of the insurance company

The business model of the "Mutual Aid Community" is very simple, just like when we were in school: each student pays 10 yuan As class fees, they will be kept with the class leader and used for future class expenses.

"Mutual aid communities" are similar to class fees: some people spontaneously form a community, and each person pays a sum of money regularly as aThe certificate of joining is stored with the community manager. If a member has an accident or illness later, he or she can receive compensation from the fund pool, and the money will be shared equally by everyone in the community.

This is a great idea - you thought so at first, after all, it means no more paying service fees to the insurance company, and no more cumbersome and complicated forms. But as time goes by, you need to consider other issues: because the money is placed with the community manager, there may be problems with false reporting of information; of course, if you know a little bit about economics, you will also know that due to annual inflation, your funds will The funds in the pool will depreciate year by year (because they cannot generate current income).

The "inflation" statistics of medical costs are shown in the following chart:

The above chart shows that the rise in medical costs has always been more serious than monetary inflation. To put it bluntly, if the treatment of a certain disease cost 10,000 yuan 10 years ago, then today, 10 years later, the cost of treatment will be 23,828 yuan, an increase of nearly 140%, and a compound annual growth rate of 9%. If this growth trend continues, medical treatment will become increasingly luxurious.

If you begin to agree with and have some concerns about the above issues, you may be able to look forward to the arrival of blockchain technology.

3. Blockchain: the solution that emerged

Since there are such obvious pain points, you will naturally be more concerned about how to solve these problems, and as With the popularity and rise of digital currency in recent years, even if you are in other industries, you have heard more or less relevant information. Of course, you are more interested in whether the underlying technology of Bitcoin, blockchain, can solve the problem. Current pain points.

1

Trust issues

The primary feature of blockchain is decentralization, which means that rights are distributed by a single institution to various users. This means that economic value and governance are distributed among network stakeholders, and all property transfers are recorded, so that you can follow all public data of the community, thus avoiding the modification or concealment of any key information.

2

Inflation issue

Digital assets on the blockchain generally have a clear upper limit on the total amount, which can effectively weaken inflation. And it can flow globally, forming asset hedging.

3

Personal privacy issues

The distributed system of blockchain can perfectly solve the problem of personal data privacy.

You can fully control the disclosure level of your data through your own private key, and only disclose specific information to specific parties (such as notary agencies) when needed (such as applying for compensation) (you I did suffer an accident), in one sentence: I did have an operation,But I don’t also need to share my cell phone number or prove whether I have a driver’s license.

At this time, companies have begun to make plans in this field, such as KBC, which has begun crowdfunding. In an interview, Campbell, the founder of its product, also emphasized the importance of blockchain technology to their business:

“Blockchain technology essentially solves the problem of trust and in the actual business process. Among them, there are cost issues caused by trust. At the same time, the information Internet will inevitably transition to the value Internet. Therefore, blockchain technology will also inevitably optimize the business model of the insurance industry, remove intermediate costs, and promote the efficient transmission and sharing of information and value. For example Liquidation efficiency, optimization of compensation, industry interconnection of user data, etc.”

It is natural that KBC will also try to create a corresponding mutual aid community through blockchain technology.

Recently, KBC has cooperated with OK-Burma Digital Asset Exchange to build a global blockchain healthy mutual aid community. The decentralization, data transparency, and non-tamperability of smart contracts of blockchain technology perfectly fit the concept of mutual assistance. In the era of blockchain revolution, it has become possible to change the production relations of the global health security industry. Kangbao Coin-KBC came into being and is committed to building a global health mutual aid community through blockchain technology.

KBC will leverage OK-Burma’s most complete data model and operational experience in the global digital currency industry. Based on the strategic partnership with OK-Burma, it is expected to provide KBC with a cold start market of one million users within half a year. At the same time, KBC will be open to global users and organizations to join through its own encouragement mechanism to truly form a global healthy mutual aid community.

In the KBC global blockchain health mutual aid community, members around the world share the health risks of serious diseases. If one person gets sick, everyone will share it equally, allowing members to use a very small KBC (Kangbao Coin system token) ) expenditure to obtain stable health protection. KBC allows any individual and organization to use KBC to join the community and become a community member or extend membership. When a user suffers from a serious illness, the compensation application will be reviewed by a global notary body elected by decentralization. After passing the review, you can get a large amount of KBC as compensation. After converting KBC into local legal currency through a digital currency exchange, you can pay huge medical expenses and obtain health protection. KBC forms an agreement through smart contracts and operates automatically in a decentralized manner for a long time. KBC obtains market value through liquidity, combined with the growing risk funds in the system. The three factors work together to enable KBC to implement perfect health protection for its members.

4. Integrate scattered mutual aid organizations to achieve win-win results for the entire industry

The scale of mutual aid groups directly affects the stability of the entire community ecology. Therefore, whether it is foreign mutual insurance or domestic smallIt is difficult for any type of mutual aid platform to form a long-term and stable economic model, and it is also difficult to avoid vicious competition. Illegal operations and outages of individual organizations have a great impact on the protection of mutual aid members. As a decentralized global mutual aid community, KBC is committed to integrating the current status of the industry through its solid user base, stable data model and effective incentive mechanism to achieve a win-win situation for the industry and users.

IV The important entry point for insurance application blockchain is

The important entry point for insurance application blockchain is the use of encryption technology by blockchain. A modern insurance system must have a sufficient number of risk individuals and a collection of insurance funds so that risks and losses can be effectively dispersed. In the operation of insurance, the core appeal is to realize and coordinate the collection of individuals, reach a collective consensus, and manage insurance funds fairly and fairly. Blockchain also has significant social characteristics. Its important premise is the consensus of the entire network, that is, the collective consensus of all participants. At the same time, decentralization makes this sociality not dependent on a tangible center, but realized through distributed technology. Self and democratic management. Blockchain uses encryption technology to build a credit system based on computing. This kind of trust is more objective, independent and credible.

VI What is the application of blockchain technology in Internet insurance products

The application is very good. For example, the network launched by the blockchain startup Abbots Financial Technology Company The mutual aid platform "Together with Mutual Aid" and insurance protection products use network mutual aid as the entry point to continuously promote the application and development of blockchain technology in China. Tongxin Huzhu combines open source code with practical applications to achieve a deep match between blockchain technology and network mutual assistance.
Together, we innovate in both technology and products. Technically, through blockchain and big data technology, we can eliminate the shortcomings of the traditional network mutual aid model and establish an open and transparent new network mutual aid platform. In terms of products, it not only launched an undifferentiated experience version for the general public, but also launched network mutual aid products for segmented groups, and selected IT practitioners in the hardest-hit areas to be the first to enter the group, creating a precedent for model innovation in the network mutual aid industry.
The technical characteristics of the blockchain determine that Tongxin Mutual Aid has three major characteristics:
First, all fund flows are open and transparent, cannot be forged or tampered, and every user can exercise the right of supervision.
Secondly, all fund transfers can only be executed in accordance with public smart contracts and cannot be misappropriated or interfered by humans.
Finally, each user's personal sensitive information will be highly encrypted and cannot be accessed by others.
Based on the above three points, the existing doubts about the traditional network mutual aid model have been resolved one by one. Not only that, in order to ensure the authenticity of the orders issued, Tongxin Huzhu established a new "jury" system in the supervision mechanism, forming a professional identification system including lawyers, doctors, judges, police and other public officials to ensure that every order is compensated. It is authentic and reliable and completely eliminates the most criticized shortcomings of traditional network mutual assistance.

VII What applications can blockchain technology have in the insurance industry

Blockchain technology also has unparalleled advantages in the insurance industry. From the perspective of data management, the application of blockchain technology by insurance companies can effectively improve risk management and control capabilities, including the risk supervision of insurance companies and the risk management of policyholders.

The application of blockchain technology in the insurance industry can strengthen the internal risk supervision of insurance companies. Blockchain technology can record the daily operating processes of insurance companies on nodes, and can achieve in-process control over the company's capital flow, investment status, compensation payments and other businesses, and improve the company's risk management and control capabilities.

In addition, blockchain technology is safe, reliable, and cannot be tampered with at will, ensuring that the information obtained by the policy holder is true and effective, thereby enhancing the policy holder's risk management capabilities.

ⅧHow to apply blockchain How to apply blockchain

1. Financial field:
Blockchain is used in international exchange, letters of credit, equity registration and stock exchanges It has potential huge application value in other financial fields. The application of blockchain technology in the financial industry can eliminate the need for third-party intermediaries and achieve direct point-to-point connection, thereby greatly reducing costs and quickly completing transaction payments.
2. Internet of Things and Logistics Fields:
Blockchain can also be naturally combined in the Internet of Things and logistics fields. Through blockchain, logistics costs can be reduced, the production and delivery process of items can be traced, and the efficiency of supply chain management can be improved. This field is considered to be a promising application direction of blockchain.
3. Public service field:
Blockchain is closely related to people’s production and life in public management, energy, transportation and other fields. However, the centralized nature of these fields also brings some problems. Blockchain can be used chain to transform. The decentralized, fully distributed DNS service provided by the blockchain can realize domain name query and resolution through point-to-point data transmission services between various nodes in the network, and can be used to ensure that the operating system and firmware of an important infrastructure are not Tampered, you can monitor the status and integrity of the software, detect bad tampering, and ensure that the data transmitted by systems using IoT technology has not been tampered with.
4. Digital copyright field:
Through blockchain technology, works can be authenticated, proving the existence of text, video, audio and other works, and ensuring the authenticity and uniqueness of ownership. After the rights of the work are confirmed on the blockchain, subsequent transactions will be recorded in real time, realizing the full life cycle management of digital copyright and also serving as a technical guarantee in judicial evidence collection. For example, MineLabs, a startup company in New York, USA, has developed a blockchain-based metadata protocol. This system called Mediachain uses the IPFS file system to realize copyright protection of digital works, mainly for copyright protection applications of digital pictures.
5. Insurance field:
In terms of insurance claims, insurance institutions are responsible for fund collection, investment, and claims settlement, and often have high management and operating costs. Through the application of smart contracts, Can Tan Orange does not require policyholders to apply., and does not require the approval of the insurance company, as long as the claim settlement conditions are triggered, the policy will realize automatic claim settlement. A typical application case is LenderBot, which was launched in 2016 by the blockchain company Stratumn, Deloitte and the payment service provider Lemonway. It allows people to register customized micro-insurance products through the chat function of Facebook Messenger to provide insurance services between individuals. The high-value items exchanged are insured, and the blockchain replaces the third-party role in the loan contract.
6. Public welfare field:
The data stored on the blockchain is highly reliable and cannot be tampered with, so it is naturally suitable for use in social welfare scenarios. Relevant information in the public welfare process, such as donation projects, fundraising details, fund flows, recipient feedback, etc., can be stored on the blockchain and transparently and publicly disclosed conditionally to facilitate social supervision.

Ⅸ Why the insurance industry urgently needs to integrate blockchain technology

As a distributed ledger structure, blockchain technology has the public characteristics of being irreversible and non-tamperable. It is not only in the financial field, It can be widely used in supply chain management, intelligent manufacturing, culture and entertainment, financial services, medical and health, IP copyright, education, Internet of Things, sharing economy, communications, social management, charity, social employment, and e-government.
At present, domestic Internet and IT are involved in the blockchain industry, and have begun to develop or launch a series of solutions for basic application cases. In the current development trend, integrating blockchain technology into smart life, the Internet of Things and other fields, integrating massive physical business application scenarios, carrying out blockchain + physical industry projects, and realizing the physical transformation and upgrading of the physical industry are among the most promising. One of the representative blockchain application directions.

Extended reading: [Insurance] How to buy, which one is better, and step-by-step instructions to avoid these "pitfalls" of insurance