Insurance sector witnesses Transformation through Blockchain

Blockchain ecosystem works as a risk mitigating factor for the Insurance industry. According to Uday Kumbhare, Consultant – P&C Insurance Practice, L&T Infotech; claim handling, fraud prevention and increased customer satisfaction can be achieved if blockchain technology is used effectively. Uday, the product owner of two of the strategic solutions developed by L&T Infotech, explains what makes this system more transparent, efficient and tamper-proof.