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Aug 2020

Taiwan: Blockchain alliance starts trial to improve insurance operational efficiency

Source: Asia Insurance Review | Aug 2020

By leveraging blockchain technology, Taiwanese insurance customers with policies from multiple insurers will now be able to update their personal information or file claims by applying through just one of their insurers.
 
According to Taiwan News, the Chain of Insurance Industry Alliance along with 11 insurers started a six-month trial on this project from 1 July onwards in order to streamline applications and reduce redundancy.
 
Members of the alliance currently include Cathay Life Insurance, Taiwan Life Insurance and Nan Shan Life Insurance. However, Prudential, BNP Paribas, and AIA Group have also expressed interest in joining the alliance. A 
 
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