Historically, there were major barriers preventing farmers from utilizing insurance, including the lack of affordable and reliable insurance products, a lack of understanding about how insurance would help a farmer survive, and when and how a claim would be paid. This new blockchain technology directly addresses those issues as the insurance products are automated. This automation transforms and simplifies the claims process so that a farmer does not need to submit a claim, and, at the same time, the insurer does not need to send a claims adjuster into the field. In addition, this process results in reduced administration costs and, subsequently, a higher percent of premiums being used for claims payment and immediate, fully trusted pay-out.
This coordinated effort announced today includes
Hugo Wegbrans, the Chief Broking Officer of
Etherisc develops a protocol for decentralized insurance apps, creating an alternative to traditional insurance. The company's mission is to make the purchase and sale of insurance more efficient—reducing operational costs, increasing transparency, and democratizing access to reinsurance investments. https://etherisc.com/. @etherisc Telegram: https://t.me/etherisc_community
Aon contact: Tom