区块链对保险行业的影响,区块链解决保险行业痛点

『一』What is the application of blockchain technology in Internet insurance products

The application is very good. For example, the blockchain startup Abbots Financial Technology The company launched the online mutual aid platform "Tongxin Mutual Aid", and its insurance protection products use online 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 launches an undifferentiated experience version for the general public, but also launches network mutual aid products for segmented groups, and selects 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 to supervise.
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.

『二』The use of blockchain technology can really solve the current situation of online mutual insurance

In the daily business of insurance companies, although transactions are not as frequent as those in the banking and securities industries , but the reliance on trusted data continues unabated. Therefore, using blockchain technology from the perspective of data management can effectively help insurance companies improve their risk management capabilities. Specifically speaking, it is mainly divided into risk management of policyholders and risk supervision of insurance companies.
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 used 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, historical claims, and high-risk users. Take the fraudulent accidental injury insurance claim of RMB 40 million in March this year as an example. Zhou from Yangzhou purchased insurance from more than ten life insurance companies, but was not discovered until manual underwriting. If every insurance information he applies for is recorded in the blockchain, it can be discovered quickly and measures can be taken in a timely manner.
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.
Risk supervision of insurance companies
During the operation of insurance companies, risks occur from time to time due to various reasons. Regulatory agencies can only take measures to review beforehand or restrict afterward. However, as the front end of the insurance business becomes increasingly open and the companies participating in the insurance market become more and more diversified, the need for in-process supervision becomes increasingly prominent. In the author’s opinion, blockchain technology is one of the effective technical means for ongoing supervision. As long as the insurance company moves its daily operational processes to the blockchain and develops an accounting node (even a read-only accounting node) to the regulatory agency, the regulatory agency can observe all the business trends of the insurance company in real time. For example, capital flow and investment composition, product underwriting and compensation data, major personnel and management operations, etc. do not need to wait for insurance companies to declare afterwards, so that possible business risks and illegal operations can be discovered in a timely manner.
On this basis, regulatory agencies can also use big data technology to analyze and predict the national insurance market, timely discover and prevent possible systemic risks, or discover potential protection needs and trends, thereby Provide better protection for the people.
At present, the first domestic blockchain startup company Abbots Financial Technology Company launched the first project Tongxin Mutual Assistance, which uses network mutual assistance as the entry point to continuously promote the application and development of blockchain technology in China. 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.

『三』What can be solved by applying blockchain technology to the insurance industry

To answer this question, let’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 It is called a distributed ledger, which means that 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. . Unlike traditional centralized accounting solutions, there is noA node can record accounts independently, thus avoiding the possibility of a single bookkeeper 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 policyholders provide false personal information to defraud insurance, or they settle claims. At that time, there were differences in the determination of the exemption clause. 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 timely discover information such as repeated insurance and historical claims, and timely identify 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, is based on the traditional mutual aid platform.With the help of blockchain technology, we can achieve decentralized information sharing, innovate and achieve comprehensive and transparent operations, and build a fair, just, open, safe and efficient open mutual aid information service platform for the public.

『四』 Advantages of Blockchain Insurance

The problem of insurance fraud has always been a drawback of the traditional insurance industry, whether it is the malicious deception of policyholders or the use of information asymmetry by insurance institutions To deceive policyholders, these are real problems in the insurance industry that are difficult to solve.

If blockchain technology is combined with the insurance industry and the open and transparent nature of blockchain technology is used, fraud that takes advantage of information asymmetry will be effectively prevented. You can also use the non-tampering and traceability characteristics of blockchain technology to effectively preserve contract terms and provide a true and reliable basis for claims settlement.

Insurance and Blockchain

And in blockchain insurance, there is no need to pay a large amount of business operating costs. In traditional insurance, funds are used extremely inefficiently. If it is changed to a blockchain insurance model, there will be a situation where the insured amount is extremely low but the claim amount is extremely high.

The above are the advantages of blockchain insurance. I hope it can help everyone understand why blockchain insurance is so valued.

『五』Blockchain application 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 This technology 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 the "pitfalls" of insurance

『Lu』 Blockchain technology + network mutual assistance can provide insurance What does the industry bring?

Online mutual aid is actually a domestic variant of foreign mutual insurance (or mutual insurance). It inherits some characteristics of mutual insurance models, such as organizational form,The management measures have also made some changes based on the characteristics of China’s insurance market and the current regulatory environment.
The benefits of online mutual aid
Online mutual aid relies on the Internet’s efficient information matching capabilities, convenient payment services, and low joining thresholds, so online mutual aid has the ability to gather a large number of members in a short period of time
Low cost
At least 50%~80% cheaper than traditional protection solutions
The value provided by network mutual aid is easily accepted by users

Flexible protection
Flexible products Diversified, mutual aid products for various groups of people can be launched
Problems with online mutual aid
Operation is not transparent
There may be problems such as the platform fabricating mutual aid events to steal user funds
User privacy
Online mutual aid platforms are generally supported by technology companies, which lack supervision and public trust, so they are easily questioned
Inefficiency
Slow compensation process
Currently the first online mutual aid company in China to apply blockchain technology Platform Tongxinshe believes that the emergence of blockchain technology provides solutions to these problems. Network mutual aid applications developed based on the blockchain platform can maximize the absolute security of funds, protocols, and information, and improve risk control capabilities.
Transparent fund flow
All fund flow details are recorded on the blockchain. The data cannot be forged or tampered to ensure the authenticity and validity of the data. All regulatory units, public media, and ordinary users can view and supervise it at any time.
Efficient execution of rules
All fund transfers are executed in accordance with public and non-tamperable smart contracts. Once determined, they can be executed accurately and without error. No one can intervene, embezzle or intervene artificially, which improves the rules. Execution efficiency
User information security
All personal sensitive information is highly encrypted and stored. Unless authorized by the user, others cannot access or steal it
The service will never go down
Run on the public chain The network mutual assistance on the Internet does not depend on whether a certain central server is online, and can ensure that the services provided will never be down

『撒』Kangbao Coin-KBC: Blockchain technology will bring new benefits to the insurance industry What a shocking change

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 picture below shows the world healthStatistics from medical organizations and the World Bank indicate 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 a lot of your private data being in the hands of insurance companies. After all, you have no idea what they will do with your information, and you may 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 regularly pays a sum of money as a certificate of joining, which is deposited with the community manager. If any member has an accident or accident later, Diseases can be compensated from the fund pool, and the money is 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 the underlying technology of Bitcoin-blockchain.Chain, whether it can solve the 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 can did suffer an accident), in one sentence: I did have an operation, but I did not need to disclose my mobile phone number or prove whether I had 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.”

Naturally, 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. Meanwhile, K.B.C 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 for a long time in a decentralized form. 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 small mutual aid platforms, it is difficult to form a long-term and stable economic model, and it is 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.

『8』 SHS uses blockchain to further explore the development of medical insurance

Insurance has high risks, strong dispersion and high sensitivity, which are natural with the attributes of blockchain Fit. The traceability feature of blockchain technology can make the medical insurance service process more transparent; the security capabilities of blockchain can well solve the privacy protection and commercial information security issues in data transmission; and the consensus mechanism of blockchain can The credibility of the transaction is further guaranteed from the source. Due to the above-mentioned characteristics of blockchain, it can largely help the medical insurance industry to realize information sharing and connection of a large number of dispersed nodes within the industry, between industries and between users, thereby greatly accelerating the space and speed of medical insurance innovation.

With blockchain technology, each participant can now individually and digitally load information relevant only to their shared contract. This way, when a transaction is being executed, everyone involved can view the status, history, and process of being authorized. Peer-to-peer (P2P) transmission and open and transparent blockchain technology are becoming very potential value propositions in the industry.

Because blockchain permanently records all transactions between its participants, it is able to provide a level of transparency that current paradigms in the insurance sector do not offer.

SHS (Smart HealthKang Sandbox) selects the SHA-256 encryption mechanism to encrypt the data in the chain. The transaction data and trader information between users can only be viewed by users with corresponding permissions from both parties to the transaction and the owner. Medical insurance based on blockchain smart contracts will provide a more optimized insurance model. Users do not need to pay expensive insurance management costs, but directly establish intelligent insurance contracts on the blockchain, with management costs close to zero, allowing users to Insurance funds are completely managed and controlled by the user. Medical institutions on the chain can also seamlessly connect with mutual medical insurance, data connectivity, and economic connectivity, allowing people to obtain better medical insurance services.

The third level of blockchain technology development is the process of common development and mutual promotion. Especially for the insurance industry, the application of blockchain technology will greatly improve business efficiency and reduce business risks.

『九』Why the insurance industry urgently needs to integrate blockchain technology

Blockchain technology, as a distributed ledger structure, has the public characteristics of being irreversible and cannot be tampered with at will. It is not only used in finance In the fields of 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, it can be widely used.
At present, domestic Internet and IT are involved in the blockchain industry, and are beginning 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 the most promising ones. 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