Team Name: Fire Breathing Rubber Duckies
Team Members: Caroline Clark, Jaycee Cheong, Rozi Kepes
What problem are you trying to solve?:
There is no way to reliably obtain claim history of a customer at the moment, for insurers this causes problems such as not being able to correctly price a policy. If all claim history is on the blockchain (encrypted), insurers can use that for better pricing. This solution would also help customers switch between insurers, as they will be able to easily prove their claim history and get a good quote. New insurers will be able enter the market as there will be an incentive to switch insurers.
Why do you think Blockchain/SmartContract may be the right approach?: In is a decentralised, unmodifiable database that untrusted participants (insurer to insurer, customer to insurer) can use.
API/DATA/Gadget you are thinking about using: -
Git Repo: https://github.com/CarolineClark/BreakTheBlock
Team Name: Fire Breathing Rubber Duckies
Team Members: Caroline Clark, Jaycee Cheong, Rozi Kepes
What problem are you trying to solve?:
There is no way to reliably obtain claim history of a customer at the moment, for insurers this causes problems such as not being able to correctly price a policy. If all claim history is on the blockchain (encrypted), insurers can use that for better pricing. This solution would also help customers switch between insurers, as they will be able to easily prove their claim history and get a good quote. New insurers will be able enter the market as there will be an incentive to switch insurers.
Why do you think Blockchain/SmartContract may be the right approach?: In is a decentralised, unmodifiable database that untrusted participants (insurer to insurer, customer to insurer) can use.
API/DATA/Gadget you are thinking about using: -
Git Repo: https://github.com/CarolineClark/BreakTheBlock