ivault™ for Business
Advanced Blockchain Supply Chain Solutions
Problems Impacting Insurance Companies and their Clients
- 125,000 dishonest insurance claims valued at £1.3 billion led in the UK each year
- It is estimated that a similar amount goes undetected each year
- The average family pays £50 more in premiums each year to offset these costs
Slow claims process:
- Traditional paper claim forms are a painstaking and slow customer experience
- Leads to customer frustration and jeopardises brand loyalty
- Possibility to detect whether the same items repeatedly go missing or a customer has several insurance policies for the same risk
- Diminishes crime, which costs insurance companies millions each year
Ledger system: Offers a back-office accounting system that makes the supply chain more secure by using blockchain technology to record and protect all transactions.
Supply chain management: Helps companies to streamline supply chain management, and improve inventory, as well as improve maintenance / repair management to prevent fake products from entering the supply network.