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More and more industries are deciding to implement technology blockchain to your business. Now it's the insurance sector. Well-known Polish insurance company - LINK 4, announced the implementation of a durable medium together with KIR and Coinfirm.

New perspectives for the Polish insurance industry

LINK4 is the first insurance company on the Polish market to provide clients with public documents based on a durable blockchain medium provided by KIR.

The company is also involved in the project Coinfirm.

The medium in question allows to provide the recipients with relevant documents in an electronic version, while ensuring invariability and indelibility in time. Thanks to this solution, not only will communication be significantly improved, but also paper correspondence will be limited to the necessary minimum.

Banks are already testing similar solutions (e.g. PKO Bank Polski and BNP Paribas Bank) - now it's time for insurance companies.

Also check: Blockchain BIK - a new face of bank communication with clients

According to KIR representatives, blockchain technology has enormous potential that can be successfully used in the insurance industry. It will enable companies to generate savings while ensuring regulatory compliance.

Coinfirm role

The British-Polish startup Coinfirm will be responsible for integration with a durable medium.

The solution used is based on technology Hyperledger Fabric.

LINK4 customers will have access to the new service through a special platform for presenting and checking documents published on a durable medium, directly on the insurer's website.

Coinfirm in cooperation with LINK4 will use its proprietary solution called "Trudatum ". Thus, the company will grow to the rank of the main innovator in the industry.

benefits

The new blockchain solution implemented by LINK4 will enable the company's clients to verify the authenticity and integrity of documents at any time, and they will be able to do it both directly on the insurer's website and on the website KIR.

This process does not require logging in - you only need to use a special, digital-numeric identifier.

Documents (such as the product card or contract terms and conditions) will therefore be available quickly and conveniently, and above all secure.

Also check: Revolut offers the traditional banks

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