Nowadays, insurance sector has begun to expose some questions, meanwhile, the new advanced technology—— Blockchain will take great changes to the industry. In other way, it means insurance markets embrace Blockchain, many Blockchain experts offer solutions to solve the present issues.

What is the market situation?

For insurance enterprise:

Fast growth for the insurance fee, enterprise profits declined

Increased market entity, types of insurance diversified

High labor cost, strong dependence

For customers:

Difficult to choose

High product price

Marketing harassment & misleading

From above questions, people has begun to realize that Blockchain is a great match for reinsurance and that smart contracts lend itself to the complexities of offsetting risk and managing multiple parties, each with a role to play and financial interest in getting it right the first time.

However, the concepts with Blockchain has yet to be accepted in insurance markets, and there is no well-developed and Blockchain-based service plarform. Many companies try to make complex technologies easier to use and experiment with. It still has a long way to do with the decentralized applications.

Shuqin Tech is a Blockchain company, they have organized to accelerate their Blockchain thinking, plane and development to the real-world projects. For the insurance smart platform, they also proposed the platform model conception:

Their first product Baoquan.com is for data attestation based on Blockchain. This platform is focusing on filling the gaps and resolve the pain point for fintech industry, and has constructed an infrastructure with “Third-party” data preservation, credit enhancement, and truth verification.

For more solutions:

https://www.baoquan.com/en/

If you are a Blockchain developer, if you are familiar with IBM Hyerledger, Ethereum, siacoin or bitcoin, if you are good at golang language, if you wanna change your position, if you wanna fight in Blockchain field, if you are seeking for a better life, please contact us: js@baoquan.com