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HomeInvestment Pitch AIGang Token sale Nov 15th 2017 at - Aigang is DAO Insurance Prot

AIGang Token sale Nov 15th 2017 at - Aigang is DAO Insurance Prot

Investment Pitch | Season 1

Autonomous insurance network - fully automated insurance for IoT devices and a platform for insurance innovation built around data. Aspects of blockchain architecture will re-make the insurance industry. A serverless, transparent, decentralised ledger means claim histories can be permanently and definitively recorded. We'll be able to prove date and time of policy issuance, or product purchase date, and confirm subsequent ownership and location changes. The ability to authoritatively timestamp claims will see easier reconciliations for reinsurance and improved audibility. In some cases it may mitigate insurance fraud. The blockchain can deliver a higher level of transparency and trust; a welcome outcome given that 73% of people do not trust their insurer. Smart contracts, which bring together payments and programmability, mean that insurance contracts can be automatically executed. Smart contracts can trigger payments when a set of conditions are met. Combined with the ability to record events immutably, it will allow for automated claim handling. Earthquake, flood and drought information pushed to the blockchain could eliminate the need for individual assessments, allowing for more transparent payment criteria and reduced settlement times.