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Welcome to the forefront of insurance innovation, where technology is rewriting the rules to make insurance distribution and coverage more efficient, adaptable, and customer-centric. InsurNode’s groundbreaking platform harnesses the power of blockchain technology and smart contracts to reshape how insurance products are distributed and how coverage is provided. Let’s delve into the world of smart contracts and explore their transformative impact on the insurance landscape.
InsurNode’s platform introduces a new era of insurance product distribution, offering unparalleled flexibility and customization. With our technology, you have the freedom to:
Tailor insurance products to meet the unique needs of your clients, creating a personalized experience that sets you apart in the market.
Join a blockchain channel to access specific products and policies, ensuring a streamlined and efficient distribution process.
Enhance collaboration by sharing a single node with user-based access for your sub-organizations. Alternatively, create separate nodes for each entity, optimizing control and collaboration.
From product design (covers and policies) to policy invoicing (direct and term billing).
Click on the image to view our value chain.
Click on the image to view our value chain.
At the heart of InsurNode’s innovation lies the power of smart contracts, which are automated computer programs running on a blockchain. These smart contracts redefine insurance policy structures and streamline their execution:
The central piece of the policy structure, ensuring a structured combination of policy contract basis and covers. It manages premium and policy risk acceptance, introducing a new level of efficiency and transparency.
These contracts define specific risks insured, such as Third-Party Liability, Fire, or Mobile Device coverage. They’re attached to one or multiple risk carriers and define underwriting guidelines and risk pricing at the cover level.
Covers can be attached to multiple products and policies, offering flexibility in coverage customization.
Risk carriers can accept risks either asynchronously through binder-based mechanisms or synchronously through blockchain node-based interactions.
Acceptance can occur at the cover or policy level, adapting to the level of the binder.
Embedded insurance, where coverage seamlessly integrates into various transactions, is a hallmark of InsurNode’s innovation. Smart contracts play a pivotal role in this domain:
InsurNode’s forward-thinking approach to smart contracts is revolutionizing the insurance industry, enabling dynamic distribution models, personalized coverage, and event-based automation. Step into the future of insurance with us and experience the transformational power of smart contracts and blockchain technology.