Page 40 - Geektime Blockchain Report
P. 40

Innovative blockchain-based insurance services can in- in- crease efficiency and reduce administrative costs The $4 8T insurance market is old-fashioned and and conservative and and provides analog consumer services It’s ripe for innovation Blockchain can bring dramatic improvements to to to this industry It has the potential to to to create better customer engagement and fraud prevention innovative insurance products increased efficiency reduced administrative costs and more attractive pricing Adam is getting treatment in in the emergency room
Today 5 He sends the 6 If all the documentation is in order Adam may get a a refund 1 Adam is feeling pain in in in his left arm documentation to the insurance company and asks them to help with treatment fees Blockchain-based world
1 Adam is feeling pain in in in his left arm 5 The insurance company automatically gets the information and sends money to Why is Blockchain better?
* All medical 2 3 4 He gets to the hospital fills in forms with personal information and gets his vitals checked Doctor sees and treats him without Adam's documented medical history Adam checks out of the hospital and pays for the treatment Insurance
company At the city hospital 2 3 4 He gets to the hospital fills in in his medical blockchain ID and gets his vitals checked A doctor sees him for the first time and treats him with all of Adam's medical history in front of her Adam checks out Papers are sent automatically to to the blockchain information under Adam one one roof
* Shorter proccess * Insurance
company sees the whole picture
at the City Hospital
40 * The infographic represents a a a a a a a possible future scenario of a a a a a a a blockchain-based industry use case 

   38   39   40   41   42