Polish insurance company Link4 has partnered with a RegTech startup Coinfirm to streamline document management and storage with a blockchain-based system.
The blockchain-enabled tool developed by Coinfirm called Trudatum reportedly allows the firm to transfer and store electronic documents and ensure their immutability.
Stało się! Jako pierwsi na rynku udostępniamy swoim klientom dokumenty publiczne z wykorzystaniem trwałego nośnika stworzonego w oparciu o #blockchain, którego dostawcą jest @RzecznikKIR. Projekt zrealizowaliśmy we współpracy z @Coinfirm_io. Szczegóły: https://t.co/h2TuQUuQvI pic.twitter.com/9MPCO6VMF8 — LINK4 (@Link4pl) April 20, 2020
Customers of Link4 can access their insurance papers and verified online, thereby reducing the overall amount of paperwork for the company.
Launched in 2003, the company Link4 considers itself the leader of the direct insurance market in Poland and was allegedly the first on the local market to sell motor insurance exclusively via phone and Internet.
Agnieszka Wrońska, president of the Link4 Board:
“For a long time, we’ve been focusing on modern and secure solutions, and this undoubtedly fits with blockchain, which guarantees the permanent saving of documents without the possibility of editing them. It is a benefit for our clients who will always find documents such as the product card or general insurance conditions in the same place, in unchanged form.”
The blockchain-powered solution has reportedly been approved by the Office of Competition and Consumer Protection, a local custodian.
Source: Cointelegraph | Pexels
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