Insurex has positioned itself as a blockchain solution to mainstream insurance problems. Mainstream insurance is usually transacted with too many intermediaries and mostly done manually thereby creating a lot of inefficiencies. This has increasingly caused industry players to go in search of technology that will streamline their operations. Insurex sees the sector’s challenges as an opportunity. The Insurex platform is bringing stakeholders in the industry together; from Insurers to reinsurers to brokers. The platform has mapped out this mechanism to help avoid intermediaries, reduce inefficiencies, transaction delays and ultimately create a transparent market place. Using blockchain technology, Insurex will not only streamline the downstream processes for programs, they will also help make premium and claims payment more efficient. The Insurex platform will also help create more customer-responsive policies.
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