Insurance and Compliance

There are many ways in which AERO can help solve challenges in insurance. The first is the development of smart contracts for insurance policies and fasters processes for claims. This process will become more efficient, transparent, and customer-focused, and build on trust. The claim process takes the form of a customer making a claim request via a call to a customer care center or by an application on a mobile or laptop device. With AERO system, the creation of a more direct link between the claimant, insurer, and necessary third party is enabled. Data is uploaded directly to this link and the audit trail becomes more readily available

AERO also offers the ability for the insurance company to automate underwriting and claims with defined rules and data availability. This will reduce the handling cost for consumer claim submissions and pay-outs for these insured consumers can be triggered when the claim is submitted. Improving customer satisfaction to boost customer retention and the speed, low cost, and efficiency of the blockchain can help to boost this.