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RE: CryptoKitties Give-A-Way~~~~Virgin Pair
@rawdawg What would they have to do in order to make the final process of insurance claims work better on Smart Contracts? Would it lead to higher premiums?
@rawdawg What would they have to do in order to make the final process of insurance claims work better on Smart Contracts? Would it lead to higher premiums?
Smart Contracts would lead to lower premiums for the consumer as the cost of processing claims would be reduced. This has been tested on a small scale already, the company AXA is using smart contracts for flight delay insurance.
http://www.businessinsider.com/axa-turns-to-smart-contracts-for-flight-delay-insurance-2017-9
IMHO, if smart contracts are successful in smaller areas of insurance such as "flight delay" we will see wider adoption as firms begin to catch on to smart contract capability.
Good info, thanks for a real world example