Benjamin Franklin became the founding father of the insurance industry in 1752, for Insurance of houses by loss of fire. Just like 270 years ago, paperwork and face-to-face processes still prevail in the industry. Until recently, there were too many disconnected technologies to make significant changes within the industry.
Insurance is the next industry to benefit from blockchain technology, encrypted security, authentication, and the digitization of paperwork, and processes.
Abacus Life Settlements is leading a new process pathway, in collaboration with the BlockCerts Blockchain platform, to digitize the insurance process and create numerous new benefits for the policyholders, the company, and the industry.