IUCC Combines Blockchain Technology with Insurance to Create New Opportunities
Monday, June 10, 2019 11:00 AM
NEW YORK, NY / ACCESSWIRE / June 10, 2019 / Insurance is a credit-based industry. Credit is an important basis for insurance management. The invention and existence of IUCC will solve insurance to the maximum extent. The pain point of the industry. The principle of "maximum good faith" is an important prerequisite for the existence of insurance, and it is the basic guarantee for the social efficiency of the insurance system.
With the help of network-wide consensus, algorithmic trust and distributed features, IUCC provides a new perspective and possibility for refactoring trust. In the blockchain era, algorithm trust no longer depends on a certain center, no longer depends on a specific model and technology, but through real data calculation, to build a set of scientific, fair and efficient trust. The system not only gives the reconstruction of the social trust system possible, but also gives the insurance business management model, and even the existence of the entire business with new challenges and new opportunities. The most typical challenge is the transition from the "pre-trust" model to the "post-trust" model. The IUCC blockchain provides technical realization for the establishment of the "post-trust" model, which will lead to the return of the mutual insurance 2.0 era.
The subject of insurance is the carrier of insurance benefits, the basis of insurance contracts, and also the main object of business management. "Uniqueness" is the basis and focus of the management of insurance targets, and it is also a problem. From the perspective of business management, whether it is "inspection of underwriting" or claiming damage, it involves the identification and confirmation of the "uniqueness" of the subject matter of insurance.Another typical scenario of a unique problem is pension fraud. In the current reality, social security agencies cannot truly and efficiently confirm whether pensioners are still in a state of survival, so that many insured persons have passed away and their families are still receiving insurance benefits in their name. This is outside the United States. Both are a prominent social issue.