Application scenarios of blockchain vehicle damage insurance

1. To answer this question, let's first introce the core technology of blockchain and the current insurance instry<

Introction to the core technology of blockchain
blockchain mainly solves the trust and security problems of transactions, so it proposes four technological innovations to solve this problem:
the first one is called distributed ledger, which is that transaction bookkeeping is completed by multiple nodes distributed in different places, and each node records complete accounts, Therefore, they can participate in the supervision of the legitimacy of the transaction, but also can jointly testify for them. Different from the traditional centralized accounting scheme, no single node can record accounts separately, so as to avoid the possibility that a single bookkeeper is controlled or bribed to record false accounts. On the other hand, because there are enough accounting nodes, in theory, unless all nodes are destroyed, the accounts will not be lost, thus ensuring the security of the account data
the second is called symmetric encryption and authorization technology. The transaction information stored on the blockchain is public, but the account identity information is highly encrypted, which can only be accessed under the authorization of the data owner, thus ensuring the data security and personal privacy
the third mechanism is called consensus mechanism, which is how to reach a consensus among all accounting nodes to determine the validity of a record. This is not only a means of identification, but also a means of preventing tampering. Blockchain proposes four different consensus mechanisms, which are suitable for different application scenarios and achieve a balance between efficiency and security. Taking bitcoin as an example, the workload proof is adopted. Only when more than 51% of the accounting nodes in the whole network are controlled can a nonexistent record be forged. When there are enough nodes to join the blockchain, this is basically impossible, thus eliminating the possibility of fraud
the fourth technical feature is called smart contract, which is based on these trusted and tamperable data and can automatically execute some pre-defined rules and terms. Take insurance as an example. If everyone's information (including medical information and risk occurrence information) is true and reliable, it is easy to carry out automatic claim settlement in some standardized insurance procts<

risk management of policyholders
in the current insurance business, disputes between insurance companies and policyholders occur from time to time, either the policyholders provide false personal information to defraud insurance, or there are differences in the determination of exemption clauses when settling claims. The key to these problems lies in the lack of a real and reliable data collection and storage means for the personal information of the insured
with the advancement of national systematic projects such as medical information digitization and personal credit system, more and more authoritative data sources appear. If these data can be introced and stored on the blockchain, it will become the digital identity of everyone. The data above is authentic, can't be tampered with, real-time synchronization and life-long validity, It will bring great benefits to the risk management of the insured
the first is to get through the data between different companies and refer to each other, so as to discover the information of repeated insurance and historical claims in time, and discover high-risk users in time
secondly, introcing data from different instries into the blockchain can improve the accuracy and efficiency of underwriting and claims verification. For example, if you can query all the medical records of the insured, even the medical records of the immediate family members, on the blockchain, you will have first-hand information about the current physical condition, disease history and family history of the insured, effectively eliminating the insurance with diseases
for example, at present, China's first network mutual aid platform using blockchain technology as the core is concentric mutual aid. On the basis of traditional mutual aid platform, with the help of blockchain technology, it realizes decentralized information sharing, innovates and realizes comprehensive and transparent operation, and builds a fair, just, open, safe and efficient open mutual aid information service platform for the public.

2. Although the application of blockchain technology in the insurance instry is mostly in the stage of technical verification, the rapid development of application scenarios indicates that the technology will bring transformative impact to the insurance instry. Some IT giants, such as Microsoft, IBM, Oracle, Alibaba and Tencent, have begun to lay out in the blockchain field, and some have even launched procts or services based on blockchain technology
according to the in-depth analysis report on business model innovation and investment opportunities of China's blockchain instry published by foresight Instry Research Institute, at present, the application of blockchain in the insurance instry at home and abroad mainly includes the following categories: the first category is to use blockchain technology to complete insurance contracts according to the established rules when a certain condition is triggered, such as flight delay insurance, flight delay insurance, etc Unemployment insurance, etc; The second is reinsurance and coinsurance. In the transaction matching and settlement of reinsurance and coinsurance business, blockchain is used to enhance the efficiency and transparency of transaction and settlement; The third type is used to track the proction / growth process of commodities. The traceable characteristics of blockchain are used to track the breeding process of agricultural procts or the proction and circulation of valuables
in the long run, the application of blockchain in the insurance instry is likely to bring revolutionary and disruptive changes e to its broad development prospects and numerous business convergence points.

3.

Blockchain technology also has incomparable advantages in the insurance instry. From the perspective of data management, the application of blockchain technology can effectively improve the risk management and control ability of insurance companies, including the risk supervision of insurance companies and the risk management of policyholders

The application of

blockchain technology in insurance instry can strengthen the internal risk supervision of insurance companies. Blockchain technology can record the daily operation process of insurance company on the node, realize the in-process control of the company's capital flow, investment situation, compensation amount and other business, and improve the company's risk management and control ability

in addition, the blockchain technology is safe, reliable and can not be tampered with at will, which ensures that the information obtained by the policyholder is true and effective, and enhances the risk management ability of the policyholder

4. The car damage insurance covers the loss of one's own car. The third party insurance is to compensate the other party's loss. It's very important not to count the dectible. When you bump into someone, you are fully responsible. If you don't count the dectible, you have to take part of it yourself.

5.

Insurance editor to help you answer, more questions can be answered online

Can you cover the damage if you don't buy it? To solve this problem, we must understand the basic situation of car damage insurance, but car damage insurance is a kind of business launched by insurance companies. Since it is a business, it will definitely proce certain expenses, so the problem arises. I believe that many car owners buy their cars with loans, so the expenses of vehicle loss insurance must be reasonably considered, whether to buy or not. As far as the cash society is concerned, this kind of insurance expenses can not be saved, but let's get down to business. If the owner hesitates when buying a car and doesn't want to take out car loss insurance for his car for the time being, then the problem will come. If the owner's car is damaged in this case, the owner will surely ask if he can't take out the car loss insurance? The conclusion is yes
can you cover the loss if you don't buy it? Although it is feasible to insure your car against damage when your car is damaged, please note that the insurance company will not pay for the repair cost of your car. Please calm down and think about it. It's reasonable for car owners to claim for the next vehicle loss. Comparing insurance companies is like an enterprise. If everyone wants to take advantage of this loophole, then the normal operation of insurance companies will be a problem, which is obviously impossible. Secondly, in such a situation, car owners should also remind themselves that we should be far sighted. After all, it would not be good for us to have a life like impact on our own life because of saving the cost of car damage insurance
a little tip about whether the car damage insurance can be covered if you don't buy it. The car damage insurance can be compensated, but it will take effect only after you get off the car. Many car owners will surely think that it's not covered at all. It's not like this. Although you've borne all the maintenance costs of the car this time, you'll make up for it next time. It's not too late to make up for it
after all, car damage insurance is only a part of the economy. According to the current situation, it is impossible for any car owner to say that there will be no collision damage in his life, so these are all worthwhile expenses. Please do not save them

6. Car damage insurance: e to natural disasters or accidents caused by the car damage, the insurer is responsible for compensation! For example: something blown down by a strong wind hit the car! Normal driving, get off and hit the guardrail..... Hope to adopt!!!

7. On July 6, 2011, Wu insured his car for motor vehicle loss insurance in an insurance company. The insurance amount was 58000 yuan and the insurance period was one year. On March 5, 2012, when Wu was driving an insurance vehicle, he was hit by Xu's vehicle, causing damage to the two vehicles. According to the traffic police department, Xu was fully responsible for the accident, while Wu was not responsible for the accident. The loss of Wu's vehicle was estimated to be 26000 yuan. Wu applied to the insurance company for compensation. The insurance company refused to pay compensation on the ground that Wu was not responsible for the accident and the insurance company did not bear the liability for compensation according to Article 19 of the insurance terms. Wu sued the insurance company to the court. Insured motor vehicle loss insurance is to ensure that when the insured motor vehicle loss occurs, the insurance company can give certain relief to the insured vehicle loss, so as to rece their own losses. As far as the "indemnity according to liability" clause itself is concerned, if the insurer makes compensation according to the liability of the insured motor vehicle driver, it will inevitably lead to the unfair phenomenon that the insured can get insurance compensation when the driver is at fault, but the insured can not get compensation when the driver is not at fault. This is not in line with the purpose of the insurance contract, but also contrary to the principle of fairness.