- Insurance companies have advanced slowly in the distribution of data due to the significant risk of data privacy.
- The problem with the current way insurance companies work is how they manage their data.
- Causing delays for insurance payouts and increasing expenses for insurance companies occurs from the numerous copies of data being stored individually by each party that is involved in the process.
- Startup InsureX is building a platform that uses blockchain to solve insurance data sharing while ensuring data privacy.
- Based in London, the team is building a marketplace for insurance companies that wish to buy and sell insurance products in real-time.
The Insurance industry has yet to find an effective way to share data, and is considered by many to be outdated. Insurance companies have advanced…
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